Retracement strategy, a must for traders.
Trading strategy that works wonders besides the supports & Resistance is " Retracement strategy ": The strategy that has wor...
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I 'll always be there for you. To make you feel that you're secured. And even if the rain is pouring hard and the sky is almost dark... -
5010-5039 supply zone proved a ST resistance. 5002 proved a break down point. 4945 to 4982 proved a corrective rise, monitored with an ... -
Trading strategy that works wonders besides the supports & Resistance is " Retracement strategy ": The strategy that has wor...
51 comments:
@satheesh
Excellent..keep it going...
Reposting:
Chart of Bearish Pattern complete in 5min NF
http://4.bp.blogspot.com/-wIz56F-7VK0/TnGAeDKzIMI/AAAAAAAAAS8/evf5Pl11g-0/s1600/Bearish+crab+complete+in+5min+NF+sept+15.bmp
If the 61.8% retr is reached then it would reach the resistance line drawn joining the lows of 4720 and 4911.
Why one must have confusion with JNSAR...?
JNSAR for the day is 5037... (I have made it 5027 to initiate it after profit booking- you could ignore it if it leads to confusion)
The SAR for this Long @ 5037 is 5037-20=5017.
Now you are short @ 5017 with a SAR @ 5037.
You could part book near pivot or S1.
Being an "eventful day" with RBI rate decision, make use of the volatility to capture some points.
I have also hinted at the completion of a 5-sub waves from yesterday's low (almost) and it has got completed with today's high.
If 4970-4985 holds, upside possibilities will remain. 4940-45 is the next support.
@ DR,
Sudharshan Sukhani does not visit "Indian bloggers". He likes only Foreigners.
This must be someother sudarshan.
All kinds of labelling people do. One should stick to the one that has balance.
Dear ilango sir, i am Sudharsan from chennai. working for KALAIGNAR TV PVT LTD (news editor)
.
@sudharshan,
your numbers are possible. I need to look at that range. I went with
what ilango sir game me as the impulse down.
1=5740-5497 ( 240 )
2=5497-5702 ( 200 !!! )
3=5702-4720 ( 1000 = 4*Wave1 )
4=4720-5170 ( 450 = 50%* Wave3 )
5=5170-???
We have been discussing based on this. It will be very useful
to look at a degree above too. Problem I saw ( based on
aarvee's long term EW analysis and I think Sir is also
same opinion ) is that we are in a Primary Wave 4 since 2008.
And we are in some kind of flat or irregular after that.
I want to get into this Wave 4 sometime this weekend
and get more understanding hopefully.
Sir
That's dear DR's lolz :) :) haha u took it seriously??
Sir,
I believe RBI policy review is tomorrow... not today... so today may not be so volatile
.
@piyush,
"why it cant be flat in 4th wave a 4722-5169 zigzag, wave b zigzag going on ?"
By my understanding, zigzag wave A should be proportional
to previous wave 5. Previous 3.v was 4966 to 4720.
But if iv.A ended at 5170, then it is too big ( 4720 to 5170 ).
Whereas currently iv.a is 4720 to 5065 which is also
too much but atleast close to 3.v.
I am so new to EW that I AM the wrong person for such
complicated Wave 4 stuff. I hope ilango sir can answer
more of your question.
Gm Illango sir
Sir Did conservative also reverse or wait till 4960?
I am still holding long so asking
Good morning blogmates,
If NF holdS 4950 & starts trading above 4995,
we can see 5088 today only.
From today's cach high, retra 5062/4911
61.8% lvl is 4969 & that is hold as of now.
I think bleeding is over.
pdd
@Ilango
looks like wave (iii) of v started
RBI policy..5.ii completion :) ( Inflation has been
high ).
@sir
somebody told me he visits but doesnt comment
@gd
previous wave 3.5, i guess is 5195-4722 4966-4722
is 3.5.5 this wave is correcting entire 5701-4720
even i am learning ew like u r.
sir if possible ur views
""why it cant be flat in 4th wave a 4722-5169 zigzag, wave b zigzag going on ?""
the implication will be in medium term only 4722 will not break for a long time if 5th is on it might break by early next week
like we were expecting 5th to break 5177 in feb 2011 but it never happened till many months.
61.8% retr completed in NF for 4909 - 5047 at 4959.
Fast rise in 5min NF charts invalis below 4950
@Ilango
a 5 mins chart EW label could be used to cross check.
hope you can upload that :)
Good Morning Sir and Warriors
sudharsan said...
good morning all. Wave 4 cannot make a daily close into the closing range of wave 1 which is (5195 NS). pls correct
It can
Wave 4 does not overlap with the price territory of wave 1,
except in the rare case of a diagonal triangle.
There is a standard joke shared by technical analysts that if you were to put twelve Elliott Wave practitioners in a room, they would fail to reach an agreement on wave count and the direction in which a stock is headed.
Robert Prechter, the undisputed leading expert of Elliott Wave, has made some excellent forecasts using the theory, particularly in the '70s and '80s - he forecasted the horrific crash of 1987. But Prechter's record at the end of the twentieth century has not been stellar. In fact, his book "At The Crest Of The Tidal Wave" (1995), which publicly called for the end of the great bull market in 1995, was nearly five years and many Dow points premature; he was advising clients to exit the market even though the ascent was nowhere near its end.
Read more: http://www.investopedia.com/university/advancedwave/#ixzz1XzpZheF8
.
@piyush,
I am going by Sir's counts. See chart above. By that, 3.3 is clearly
an impulse and with the numbers he has, 3 fits in as a normal
impulse. But assuming that 3.5 was extended, still 4.a fits in
at 4720-5015 because recommended 4.a is 50-78.6% of 3.5.
5015-4710/5195-4722 = .62 !!! So you might be right about 3.5
but i think sir is right about 4 having completed.
Seniors, please confirm if Fast Fall Setup is developing on hour chart.
@Amit.
Yes, if starts moveing down in this hour. Sorry, as i m not a senior here.
PT,
Thanks for ur evening mail to me.
pdd
Gm Illango sir
can i enter in nifty now....
@manish,
I saw ur post and you might be right. ( that is why i removed by
other post on 5.ii.c ). We completed 5.ii.c yesterday. So
we should ( if 5.ii were only a simple flat ), then
we are starting 5.iii.
We need to break 4920 this time. If this is 5.iii, then
we finished 5.iii.(i) and playing 5.iii.(ii) to 5000
and then big drop of 5.iii.(iii) to 4840.
Dreams again...
@ PS,
I have uploaded for your benefit "How 4th wave zigzag can unfold, provided 4810 is protected".
since last 30 min,
ncash has tried to hold 4980 as
sir's range of 4970/85.
up fibonanci lvls are
4989/503/5015/5026/5034/5041....5062
pdd
@ Manish,
I have uploaded the 5min-NF for your comfort.
Sir still conservative hold longs or in Short?
.
5.iii.(ii) might end at 5020. Forgot the impulse.
.
@ilango sir,
In zigzag chart, 1 of A is so extended - more than 3. That
is so uncommon. That is why i liked the A-B-C there itself.
Thoughts ?
@ musti,
Conservative, if booked profits at the open, could sell here(5010) with a SL 15 points.
gd,
Whenever markets are extended(downwards), the first reversal always overdoes things.
Well, these are possibilities. We should identify "tradeable direction with appropriate numbers" and leave much of the debate in the evenings "while relaxing"...
@Ilango
thx a ton:)
so 5012-20 should be a shorting level
.
@ilango sir,
You have told me this point 2 times now in 2 days
and i forget that. Awesome.
I am totally open to evening chat - you might feel
sorry for having volunteered though. I ask too many
questions. I am still learning - not trading.
Thx
Dr
Yesterday you were mentioning about "Black Friday"
Does that count still validated
All market studies are tools to be used at various situations to "make money in the market".
These tools are like our mind. They are just to be used... Mind is not us. These tools are not markets.
One who gets under the spell of mind.. becomes a monkey. And one gets under the spell of these studies becomes "confused".
"Confused" state will not take correct decisions.
Amzaing Market ---- For the first time in the last 4 months getting whipsawed --
As said na Market is Supreme
When we get a correction of a correction of a correction of a.... we need to stop and correct ourselves and wait till a clear picture with much less possibilities emerge. :)
@ Manish,
This bounce from the lows could continue after some sideways action, giving it more time. 4965 & 5026/5037 are to be watched.
See how the 2nd wave in this move down from 5169 was "elaborate".
4720 low has not been disturbed for long time. And 5169 has not been disturbed for 5 days now. SO until these two are not breached, a lot of trading moves are possible.
Market, reflected by marketmen's thoughts, is in a state of indecisiveness...
Small trader
No body can predict future - so I dont even try it
Bro I am always against perdition
If todays closing is above JNSAR I will be long
I follow my levels Religiously.
but tom being RBI meet, my exposure will be minimal
@Ilango
point noted :)
5042 also as we have labeled it as ii
so 5012-37 can be used to short with sl 5042 as if 5042 is crossed then count will have to be changed.
Sir - thanks for your advise :)
DR - am not following my levels "religiously" that's the problem often will try to do someway better after your tips.
Demotion of Salmankhan - 2009 -Wanted=IPS
2010 - Dabang = Inspector
2011 - = Bodyguard
Upcoming films - 2012 = Securityguard
2013 = Watchman
2014 = Postman
2015 = Fireman :)
Good Morning Everybody!
Sensex is down, Gold & Property not affordable. Invest in relations & friendship, the only promising investment to get returns.
Well said FIRE, we must wait for clear possibilities:)
This week hay hinge on the bullish potential of a Mercury-Jupiter aspect that is exact on Wednesday and early Thursday. Both of these planets are positive influences, and previous aspects involving Jupiter have produced solid gains in recent weeks around the time of its retrograde station on Aug 30. But Jupiter may be losing some of its power as it picks up speed, so the upside could be fairly limited here. Venus enters sidereal Virgo over the weekend, so that is a background negative influence that may exert some influence over Monday's session. The late week looks more vulnerable to declines as Mars forms an aspect with Neptune on Thursday and Friday.
modernvedicastrologydotcom
Thanks again sir,
5003NF = 50% retr & 5013 NF would be the 61.8% of the fall from todays high 5047NF to low at 4959NF - and this forms the C of Bullish gartley in 5min NF. The retracement levels would take Nifty to 4966 and next to 4944 NF. which would reach the bottom of the channel marked in the premarket chart!!!
thank u sir,
i was thinking 4th flat. wave a 4720-5169 is clear
3 like in wave a of flat(internals wud be a zigzag.
wave b again a 3 wave structure like zigzag, one set 5 wave done. more of medium term relevance
@gd
i'll answer to u later. its not the question of
right or wrong only correct application of knowledge. whenever market is in trading mode multiple counts always open up.
@sujatha - LOL.
Dr
Even I don't try to predict. But yest, you spotted in chart and just wanted to know about the validation
New Post Done.
Who is Sudarshan Sukhani ?
Khudi ko kar buland itnaa ke Khuda bande se .........
For day traders, every day is good DAY, The period 11 AM to 1 PM having good momentum, specially range breakup or down.....So just play, keep away long term , short term etc..
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