Elliot's Impulse waves.(Part-5)
IMPULSE WAVES :- The Basics Waves that move the market in the direction of its main trend either up or down are called Impulse waves. 1....
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5010-5039 supply zone proved a ST resistance. 5002 proved a break down point. 4945 to 4982 proved a corrective rise, monitored with an ...
48 comments:
Thanks for the reply sir!
May be i overlooked at JNSAR updated in chart during intra :(
Any ways, my Q about reversing JNSAR position during gap up/down's like today is still unanswered.
Ignore if your time doesn't permit right now.
H-JNSAR triggered. Last trade - 85 pt loss.
Dear Ilango Sir & Blogmates,
OI Update at 10:00 AM
Happy & Prosperous Dhanteras to all
Thanks & Regards,
Sanjay Kr Jaiswal
..Now Yahoo chart is working...
Last 5 trades on Jnsar have not worked :(
every system had draw back thats fine.JNSAR has given great trades so many times :)
Dear Ilango..
Though NSE site,Google site & terminals are showing
5111.35 as low, is it advisable to take the practical
low as a "low" for TA Table?
@ Ravi,
Needless to say, just as you sold JNSAR on friday as it triggered, you also buy when it triggered today at the open.
How many trades must a trader make before he/she becomes independent...!!
@Ilango
Prices continue to indicate a resistance 10-20 points
above day high ema at 5123....seems to reflect Friday's
price action....would then, a sell on rises, be a
prudent move at this stage????
@ Mynac,
Often the official high & Low versus the actual High & low as per Hour data, there is a difference.
It is there even in NF values. Taking actuals is the right way.
Thanks Dear Ilango..
..HIGH....LOW.....CLOSE..JNSAR
4,991.15 4,882.05 4,979.60 4,894 +
5,045.10 4,964.00 4,974.35 4,880
5,109.80 4,997.65 5,099.40 4,880
5,136.20 5,067.75 5,077.85 4,898
5,141.40 5,056.60 5,132.30 4,932
5,160.20 5,084.50 5,118.25 4,969
5,057.50 5,011.05 5,037.50 5,005
5,148.05 5,075.30 5,139.15 5,032
5,099.00 5,033.95 5,091.90 5,054 - & +
5,120.75 5,037.95 5,049.95 5,067 PB & -
5,144.70 5,113.60 5,136.55 5,072 +
GM sir and all :)
Happy Dhanteras to all.
Jiggs - What about "Shubh jewellery" shall we buy gold here? is it worth (rajesh export's unit) if anybody knows also please post me.
bhel, itc, hul, hdfc, tcs, hindalco - what happend to all these today? which closed in bearish engulfing on Friday.. (I may be wrong also correct me) :P anybody chart specialists pls.
Pichikoooooooo shorters trapped…hehe – this week “longers may trap” bit commonsense and knowledge game apart from technicals?? Grinder on… one intra downmove pending ???
happy dhanteras to all :)
Happy Diwali to all!..."discounting" the future on Dhanteras :D
Sir
Please u do not have to give any explanations no system is foolproof and it is the traders view point about how he takes his trade
Also how many people booked shorts at the end considering it was weekend and weekly closing was above WEma so atleast shorts as per higher TF was not advisable
@Mynac acc. to the vol trade if 5129 protected we can go in for intrady buying and viceversa if not protected can we short?
@SR
GM
Happy Dhanters and sensex tgts?please
I know that last few trades in JNSAR has not
worked. But we also know it is a Wave 4 ( triangle )
within 100 pts range. So whipsaws are going to happen.
AshishAg
Hi Welcome back
I held Nifty tightly till u were abroad
How was your tour?
Now game is yours take it for ride of w5 :D
@Dr Sir,
pls update copper lavels.
Nilesh
Dinesh Rishi said...
Falling wedge in copper
booked long no fresh commitment
but will not short
Gud nt
बगुला भगत
http://photoquoto.com/wp-content/uploads/2010/04/100405.jpg
October 21, 2011 9:50 PM
Dear Bhavan,
As it is protecting 5130 & the the O.I.is still on
very lower side, even not much roll over today
inspite of up move,if I want to go short then
I would prefer to wait for more up side/more some time.
Thanks DR sir
thanks Mynac
@Bhavan - 17111/188/211/308 am looking for 188/211 level for reaction
thanks Sujatha
LAST WEEK HIGH OF
5160.20(monday) &
NEXT ONE 5148.05(wednesday)
is not crossed so far.
NCASH is only above Friday's high.
mynac observation looks rewarding.
pdd
ATP
OCT 5144
NOV 5163
pdd
muhurat trading 4.45-6pm as per msg frm my broker
@ilango sir,
4729-5168 was 7 days. Wave 4 is in its 6th day now ( if it
is still 4 ).
If Wave 5, then maybe some retrace for 2 of 5 ( 38% is 5090 ) ?
On Friday,Intraday Nov.NF addition was 50lac.
Today upto 11.40 AM 22lac O.I. addition is there ,so
another 30lac addition is expected from here.
Nifty is showing strength only. May well close at the high today. If this is not the 4th, and B instead, then this JNSAR long can be one of the most rewarding trades.
Maybe ii is taking form of an Irregular Flat in 5-min chart? Just a thought.
H-JNSAR seems to make big losses mostly when
we initiate a trade and next day there is a big
gap up/down against. ie the trend changes. Even a SL will
not help in taking big losses. Any ideas to
counter this ? Maybe not take certain trades ?
To me, Wave 4 is one such scenario where not to
take any JNSAR trades. Issue could be that you
might lose a lot of points if the gap up/down
goes in your direction. The DLEma and DHEma definitely
help a lot in making decisions to close a trade or
not. Like on Friday. Or the 4751 close couple of
weeks back ( we opened at 4922 next day !! ).
@ gd - watever it is monthly closing below 5110 - i am -ve :(
Satheesh - என்னப்பா பட்சணம் பண்ண போயாச்சா நான் இனிமேல்தான் ஆரம்பிக்கனும் ஏதாவது புது ஐட்டம் (ஈஸி) இருந்தால் எனக்கு கொஞ்சம் மெயில் தட்டி விடவும், அதற்குள் ரிப்பன் பக்கோடாவை கொஞ்சம் கவனித்துவிட்டு வருகிறேன்,
Was there any indication on Friday except for closing
above DLEma and Wave 4 - abcde possibly completing
to go long ? Only based on TA ?
gd - why u want to dig more abt "JNSAR' Only? lots of methodsr there find out 3-4 keep handy and trade or else "stay away" frm mkt still ur "method" comes into play..every system has some -ve depends upon the "mkt behaviour" can you show me "one system" which is 100% profit?
??If u r not comfortable in JNSAR leave it use "your own method" :) like me
PS ;don't ask wat i am using..pity i can't tell as i am usingsensex for nifty trading :) + options
"How many trades must a trader make before he/she becomes independent...!!"
Ilango,
It took approx 1300-1400 trades for me(still can't say am 100% independent. Somehow sometimes demon sits in my mind to take wrong trading decisions)
Am sure min.average would be 1000 trades to start the thought process and around 1500 trades to become self-reliant :)
@ GD,
The tool that should have been used during last week was "Pattern trading by Contracting triangle".
Ilango said...
@ Indus,
Narrowing triangle - Resistances/ Breakout point coming down. Supports/ break down point moves up.
12.00Noon Close was below HHEma & Hr.pivot - the aggressive signal.
It has stopped at Day pivot presently. If unable to move past 5107, it could move to the lower support. That would complete "5 parts of the triangle".
It is likely to be a close within the range today - leaving it open to a gap down or UP.
October 21, 2011 12:49 PM
@gd,
Week EMA holding and 14 Hr-RSI (or higher) bouncing from trendline.
Namaste Dear Master Ilango and all friends
Last week saw big swings.
At the lower end 16650 (5000) is crucial to start new lows, which is not very far. On the higher side 18000 (200 DMA) is crucial for confirmed bull market which also is not very far.
Nifty made many attempts to move above 5170 but could not.
@Golfdude : please confirm 5th is about to begin.
regards
Anybody see an ascending triangle with base 5011 and top 5148
and height 140 ? Target: 5280 ???
@sujatha,
I question to improve it. Not reduce its merits. I
have done decent back testing to see its merits. How
can we make it better to avoid a week like last one ?
I didnt trade much last week as I thought this was
Wave 4. But for folks trading purely by JNSAR
( who have another day job unlike me :) ), maybe
this analysis might help.
GOOD MORNING ILANGO SIR AND SENIORS
CAN ANYONE TELL ME WHICH BROKERAGE IS GOOD WRT LOWER CHARGES AND GOOD SERVICE (LOWER DOWNTIME AND GOOD CONNECTIVITY)
@GD yes friend it is an ascending triangle
New Post Done.
As per NSE circular: The market timings for Muhurat trading session will be as follows:
Normal Market open
16:45 hrs.
Normal Market close
18:00 hrs.
Set up cut off time for Position Limit / Collateral value
18:15 hrs
Trade modification end time
18:15 hrs
@Golfdude
if it (ascending triangle) closes above 5150 then it may target 5280
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