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...
86 comments:
@ Ram Charan,
You've got it correct.
Thanks Sir.
BOOKED OUT OF LONGS AT 4887
Parminder/Piyush and all - extremely sorry that is 4806 babre blunder mistake. onceagain sincere apologies.
It's better i hv to be away from system "got cut in 2 fingers" :P
Ramcharan - i did many times for a single lot slowly increase my trailing SL actually i closed my all positions yesterday. but closing i bght again suddently "hawala" strikes. that is my SL. today morning another option for SL of mine is LBB 4797 to 4818 + 4806. (wherever i am comfortable)Am talking about september. My october is open unless short term 4911 taken out decesively.
Sir is it advisable to short here around 4885-4890 with
SL of WLEMA @ 4914 or 4924 23.6% retracement of the fall
from 5169 to 4847. Pls sir need ur guidance.
Thanks
Good Morning......
@ramcharan,
From your comment, correct me if my understanding is
right -
If below LEma, and lead indicator ( 14-D or 35Hr-D )
is above 20, opportunities to short until lead indicator gets to 20.
Can be used in lower timeframes.
Fib numbers ( 4168 to 4847 ) -
23.6% - 4,923
38.2% - 4,970
50% - 5,008 ( common W2 retracement )
78.6% - 5,045
Have you faced such questions:
Many relatives friends who do not know much of stock
markets get suddenly active on post huge down days with
"I told u so" all knowing looks and statements like
"stock market down" "how are you doing" "Isnt it
loss" etc etc - The main feeling being Envy and being
pleased at someones loss.
The joke is that they do not know that people earn
money in downfalls also in the stock market :)
Havent u felt amused at such times.
@ashish,
80% rule not yet violated. See sir's premarket view.
@Ilango
around which level you thinking of shorting again?
fibo i see in above TT are 4891 & recent lows of 4911 rest no level nearby
@sbsb,
That is why many countries are thinking ( or done )
of stopping shorting markets.
Sir what are the parameters for Lead Indicator Stochastic?
%K=
%D=
etc.
Ilango Sir,
I saw TT yesterday and Traded weekly support 4948 on long side and exited at 4890. After several days I have started Applying the prices I see on the screen than fixated with what I think. Thanks for your Gyan
@all,
My previous fib number post. Meant 5168 not 4168.
@aashish,
I think so too. I am going by ilango sir's experience. He has seen these waves
so many times.
Prashant shah -- thanks a ton. it's really helpful your "hawala" but read it now only :P u people came late to JN :) yesterday.
Jiggs - i always remember ur gold now Rs. will it not consolidate atleast @ 50-51 and back down?? no chance at all means then equity market??
Brijj - too greedy :)
Ramcharan - out :) If 4901 holds then 4918/34 in NF calling??
GD believe me when I try to explain to such ppl
that one can sell in the stockmarket without even
owning anything they cannot believe it and think I am just bluffing and
trying to put on a brave face amidst huge losses. :)
I have stopped elaborating and just smile.
@STBSTB
Several times I faced.
“Valthalum aesum veelthalum aesum
Viayagam ethuthanada”
Good morning Ilango Sir and all blog mates
@aashish ( and other EW folks )...
If we are in some minute Wave 4 of the fall from 5168 to
4848 ( 5168-5010, 5010-5045, 5045-4848 ), then Wave 4
usually retracts to middle of W3 which comes to around
5000. Else if we finished 1 of 5 at 4848 from 5168, then
2 goes to 38-50% which also comes approx same range.
Is my understanding right ???
@sujatha i dont any consolidation in rupee but it will take little time, and u know what will gonna happen with equity market so no need to write abt market but i ask u to write what will happen tell us.
@Sujatha
Itching Today :) for 4950 - 4987 :) :)
@Sujatha,
it seems you miss typed 4806 instead of 4906. NS high 4906.45 :)
sujataji- am still holding my puts.i bought one more at 4891 61.8%. final lot at hour low ema with 4944 SL.
Sujataji- day lead indicator has just turned down. i will comfortably hold puts until it is 40. from 40 to 20 i will be very cautious. also, as u said weekly lower bb is 4806. i am keepin my eye on that.
GD: if your observe sir's EOD post, whenever u short after day lead indicator goes below 80, it has been a promising trade. u can comfortable hold it till it reaches 40 and be little cautious from 40 to 20.
@sujatha last DIWALI was the best in past many years now i feel this DIWALI will be the wrost
What u says?
Problem with simpleton like me is that we do not understand "proper implications" of various observations; I wish, somebody state SIMPLY as for example:
http://lalitlk-blogviewelliot.blogspot.com/2011/09/comment-on-elliot-wave-india-bloggers.html
blogger stated so plainly; implications of his observation on 20th instant missed WHERE he stated this big fall
@ashish
I already mentioned yesterday at sir's eod post about gold
@aashish,
If this is 2 of 5 right now, 23.8% is too small
a retracement. Not that it wont work but common
is 38%. Also 1 of 5 took 2 days. I feel today this
could be 4937 first ( a of 2 ), 4937 to 4875 ( b of 2 ),
4875 to 4960-70 ( c of 2 ) which brings us to 38%
retracement of 1.
DONT TRADE BASED ON THIS NOTE.
now below 4870 nf new low possible i get that with intra fibo let see
JIGS SIR... usd is giving bullish signs in all daily weekly and monthly... so if usd rises gold will not weaken... please enlighten me sir..
dinish sir missing today...
From the lows, it did a 5-wave up and if it does not fall below 80% retrace(4860), then it is likely to be a zigzag and at its next move up above 4906, one can look for selling.
GD,
pls clarify.Can we still keep the option of ur ABCDE triangle theory? At what point does that get invalidated or is it already invalidated by the ferocity of yesterdays fall?
Ilango Sir what are the parameters for Lead Indicator Stochastic?
%K=
%D=
etc.
Since it has broken 4860, zigzag is negated.
@azad,
I follow ilango sir 's expertise for EW.
So by his 80% rule, Wave 5 is not confirmed. So
ABCDE is still alive ( although chances seem low ).
@ Marketgyan,
Download the excel file from the link at the top right corner of this blog - "JustNifty TA(23rd Sep) and you'll get them all in it.
@prabha
You are right and thats why i am too bullish in gold
Already gone below 4860...no chance to resell :(
@Ramsharan as in above chart posted by sir lead indicator is in
oversold(i think that bottom part of the chart which is arround 20)
and you say it is just turned down? can u guide I dont
understand what is lead indicator is it macd or stoch?
Sir,
Is it wise to add to shorts if 4810 is breached?
@Praba - I wish and pray "hawala" should protect for this month (joined prashanth sha's view) if not 4806 breakes means fast 4777/4720 on the cards. Hawala breakesssssssss :(
Jiggs - possibilities open to "worst" only :P anything may happen becoz usual october meham come in september itself. Or wantedly slapping more now and diwali "lift" ?? only time will tell. But i am "sentiment" on diwali trading "how it moves" the whole year will be "mostly like that" :) :D
PS : yesterday 4100 october put 9 rs. 34 rs. nowwwwwww
Why JIGS SIR TOO BULLISH... explain please...u can give ur views even after eod... thank you in advance
GD,
Thx for ur response.
pos div in 5min chart.
Sir it is 5,3,3. Am i right sir?
Hi Sam: What you see above is 35HR D charts which is oversold. Pls look at yesterday's EOD post. which is a daily chart.
jigs said...
@musti
I am bearish in silver till 60k.
And gold always buy on dips. Gold is in correction and gold may correct more too, i already gave my view till 32k but believe me i am seeing great great upside in gold. Price level i can't write here but keep counting once 1920$ is crossed
September 16, 2011 2:17 PM
@musti u here?
i will try prabha
What the readers tend to forget in most of the downtrends is:
The higher T/F reasserting; Lower T/F staying in Oversold region; Not able to sell at the break of critical levels such as ORB, retracements, etc; TT continuing to be in Total RED; And Most importantly, the higher T/F such as Day & Week "just turning down" - would the down move end in a day or two...??
@ramcharan,
thanks.
@Ramsharan आपले धन्यवाद , but what is "D" in 35 hr D?
sorry for my typing mistake .. (as my one hand is having plaster on it)
its little difficult right now,
but i will try my best only after today
@ramcharan,
I am assuming you are not trading just using lead
indicator alone. Because that can go back as well.
Do you combine that with ema's ? ( DLEma, DHEma, 5Ema )
- basically trend as well.
Sam: Maalik..i am ram"c"haran :) Accept ur thanks with gratitude.
What is D, sir or seniors can tell. even i dont know.
What happened to ur hand?
Ilango sir, as first upmove was 5 waves, now this comes to be irregular correction..now where to resell??
Thanks
GD: with lead indicator, JNSAR, BB. sometimes 20 and 50 ema in 30 min charts also.
Vix has touched 37.55 all time high since Aug 09. could some one elaborate on the implications pls?
Not to forget there are 2 more lead indicators: SUJATA N KUMAR indicators as well. They are super leading indicators :)
Sam: Maalik..i am ram"c"haran
i m sorry for this but as i told u that i m having
plaster to my left hand so not able to type fluently n making some mistakes.(and i m left handed)
@Ram Charan i had a small accident while traveling
by a bike ... fracture at wrist(left hand)
HIgh OI addition in 4600 puts now
Ilango Sir it is 5,3,3. Am i right sir?
GD most of the times div on 5mins dont yield good result. Hourly is reliable.
@aashish,
23.6% - 4,910
38.2% - 4,959 ( acceptable retracement )
50% - 4,999 ( common W2 retracement )
62.8% - 5,039
78.6% - 5,096
Now we atleast had a semblance of a 5-wave impulse
of 1 of 5 complete ( i think :) ).
Ashsish, Thx. but in the past market seems to go up after vix has reached abnormally high levels.
@natti,
Completely agree. I have lost so much money playing
divs.
Namaste Ilango sir and all,
Hour TF Bullish shark pattern almost complete with max retr of 224% of 5017-5170 NF.
Chart Update
Take care Sam. Now dont do intraday, do positional trades and no intraday so that your finder dont hurt :)
I meant fingers.
@satheesh,
I will send you a gift voucher if we reach 5100+
next week.
@Satheesh,
What is the tgt. of this Bullish Shark? Except unprepared traders, of course. :D
@ Sateesh:
Can u please clarify What target does that imply?
@all
Everytime i talk about gold silver i advocate do not trade in silver plz,
Why, reason is in front of you
sell at open rate again?
Ilango sir plz tell where to sell again??near 4900??
Thanks
@Ram charan i will take care and thanks. i m typing only with my right hand..
not using the hand with plaster.
@ilango sir,
Now can we think 1 of 5 complete ? ( although 80% not
broken. But close enough ? ).
@ Bizagra,
Wait.. Let it come closer to 38% retrace of 5168 to 4830.
Thanks Ilango sir..
As long as 4810 is not broken, complex corrective possibility remains.
= = = = = = = =
N E W P O S T D O N E
= = = = = = = =
now above 4885 nf a new high
GD,Is there any level which rules out W5 and suggests a complex corrective on?
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