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...
40 comments:
@ Ilango
Then are we trading 3rd wave sir?
LV
sir,
shouldn't it be 5011+ 430= 5441
the trendline from 6337 also gets brroken above 5450
Good Morning...............
test
@DR
Exam is going for Bear/Bull
Internal test is of no use :P
Does ORB scenario still hold true ? More than
an hour since open now.
@5400, Nifty has hit the Daily Channel upper boundary.
this test was from my phone
Now I need not type I speak and my fon
converts my voice to text
AshishAg
Hi GM
its available on youtube
full movie and in 8 parts also
Must watch
I have saved it on my fon & feel like watching again & again
"Paseena main bhi baha sakta hoon aur A.C
ki aadat mujhe bhi nahi hai"
@Ilango
If it does fill the gap of 5330-5323, could we consider
that as a rebuy area????.....
@ Indus,
6339 to 4720 was a clear 3 waves ending with an "Ending diagonal". It is safe to assume that another "3 waves" may be unfolding retracing that fall - 50% or 61.8%-5530 to 5721.
Monday's month close would give additional clues.
This current rise from 4728 to 54xx would be "a", followed by "b" and then another "c" to complete the retracement. Once the current rise gets completed, a frustrating "b" would unfold - the most challenging part.
5230-5323 could be treated as "rebuy zone" only for the very short term.
master is it 5330 instead of 5230.
@Ilango
As always, thank you for the time you take to answer
my queries....truly appreciated
@Ilango
so now Daily EW will have to be changed.as it has entered wave 1 region.
@ Parminder,
When Nifty fell from 5740 to 4720, it left a gap @ 5323 to 5230 on 5th August.2011.
Today, it has left a gap @ 5224 to 5330.
Hence, 5323 to 5230.
Thanks master for the confirmation
@ Manish,
It will be treated as 6339 to 4728 as an "abc".
And from 4728, looking for a similar "abc".
If unable to break past the channel resistance firmly, this rise could be labelled as an "alt.X" wave and another "abc" down could unfold.
Todays down load
Money Never Sleeps
Master,
Could you please check mail at your convenience?
Dear Friends and GD - I trust your Diwali and fantastic as was mine - Was long with JNSAR - due to Europe meet of Wednesday to protect my longs in future had bought 5200 puts at 113 - squared them today at 54 - so i loose on good profit as well with my strategy of hedging - but had Europe not bailed then it would have been different story now - Like i said i would always like to profit from future side - Thanks and regards Deepak
@ Ilango
Thanks :)
Deepak,
That is the safest way to trade. The futures would
have made more profits. As sir says - slow and steady.
@ Fire,
Weekly channel resistance starts from 5410 onwards. A firm close above 5410(200sma)would lead to larger rally.
Deepak & GD
This is not the way to trade JNSAR :D
System has to be followed Religiously
Hedging means u dont have faith in your system
Take out fear of LC or UC
LC or UC come one in one or two years and the loss can be recovered in one month
and normally JNSAR will be on right side so think positive :D
Strange that we had a huge runup and still the
slow stoch dropped in hourly.
Good morning Sir and friends.
Dineshji, Te Scam written by Debashish Basu gives a good account of the 1992, 2000 scams.
I did not know about Gafla, i will watch it.
Now ORB breaking up
Brokers have given final call to their client
submit margin or their positions will be square off
This is called short covering and short squeeze
@dineshbhai,
two days of continuous holidays ( diwali was just
1.25 hrs) creates more problems . atleast i think so. market has to react to two days of global cues rather than just overnight. the environment
was highly news driven with 50-60 points gap just
on greece news overnight. i hedged my longs
for this reason.
shr
any ebook?
Link plz
@DR,
"ORB breaking up". Can you explain ? Thx
piyush sharda
one must trade as he feels comfortable :D
the thing is EOM account should be positive or flat
but its should not be negative.
@ilango sir,
Feels like a 4th wave action today. 4th of 5th ( from 5039 ) ???
Master,
Thank you. Obviously above 5480-5500, the count has to be modified.
Dinesh ji, I do not have ebook. I had got the book and another book by same authors Facevalue with a 2 year subscription to Moneylife mgazine (http://moneylife.in).
Flipkart shows book is out of stock - http://www.flipkart.com/books/8186112758?pid=cw23f1waxd&_l=GOondWnomHOpT1nYHiHhRg--&_r=f%20AnZewcURH_v5eKJHYLuA--&ref=e27f2e54-1837-4f2c-ad8b-3427dd6fc66e
BN 5 Figure
@dineshbhai,
not yet reached the stage where all months are positive. for me it depends on type of month like
i cant make money is rangebound months yet.i lose money. but
sticking with jnsar atleast all quarter flat/positive
Any "C" wave or 3rd wave are sharp & swift.
To deal with them, put them in larger time frame structure and they will look normal.
How & when the game changes, no one can say it surely. All one could do is to deal with them using certain methods/ studies. Following such studies rigidly would lead to whipsawing errors.
For eg:
Trendline break-out with overbought readings would lead to false break-outs.
Contracting triangle's pattern breaks below lower support line by a few points and then reverses.
If one develops patience, the art of "doing nothing most of the time in the market", he/she will be able to spot great opportunities and then it is left to your belief/ trust.
There are some who always look for drawbacks in any study and there are those "few" who will look for the strength of a study/ method and use such studies/ methods judiciously.
In the end, it comes down to YOU.
New Post Done.
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