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 ...
63 comments:
Prices are trading above
Pivot&R1
JNSAR
3DMA
5HEMA
Cama weekly H4
If 5045 is taken away, then we have new 10 day High.
@DR,
H-JNSAR and D-JNSAR are both triggered up.
I am still short. Something is wrong with my trading :)
DR sir,
Diwali jaldi aajayega is baar?
CD: Diwali se yaad ayya. Good part is we usually get our salary before diwali. Bad part is 80% gets spent by the time diwali is over :(
@Bulls,
Its a trending move. But please keep an eye on the Hour MACD Histogram. Keeping watch for trend exhaustion is as important as trend-following.
Even a legendary Trend-follower like Ed Seykota learnt this the hard way, when he was trapped in his longs by 3 consecutive lower circuit days. :)
RC. No patient gives me bonus for diwali. but from watchman to maid everybody takes bonus from me :(
@ GD,
If you made money shorting, then it does not matter.
Every uptrend has "Shorting opportunities" and every downtrend has "Long opportunities".
Opening trades against an established trend requires keen study and useage of right tool. For eg: At OB conditions & at resistance level at yesterday's open, ORB tool was quite useful.
If the trader wants simplicity, then look ONLY for dips to buy in an uptrending market and look ONLY for rises to sell in a downtrending market.
The current uptrending market shows some fatigue at 5045. If it surpasses, it could rise into the gap area of 5060-5110. Corrections could also come in the form of "Time".
So revise your SL to 5045.
cooldent
First rule of trading
http://www.youtube.com/watch?v=KMT1FLzEn9I
@ilango sir,
Thanks. My SL is 5045.
it seems nifty may reach 5110 today itself !!
Yes DR sir. Learnt it at a very expensive school
ilango sir is conservative also revise sl to 5045 ?
@DR Sir,
Nice One
@Fire - Is hour MACD histogram showing any -ve sign??? including stoch??
tks n advance.
@ D R sir. How does one handle the changes in premiums.
It makes placing orders very difficult.
GD I'll book after this rise
cautious cos hrly & day will be OB
and will wait but cant join ur club :(
we should wear sun glasses while trading?
Yash and Dhan
If you are able to catch trend all gaps and premium will be in ur favour
dont worry we are also not making much mkt is RB
every trader is sweating
@DR,
I went short based on OB and 5045 resistances. Went against JNSAR and am out now.
Reposting:
Sir, previously you had mentioned that a triangle is preceeded by the next wave. IN 5min NF a trianlge is formed but an ascending triangle. Is it significant??
Sir, can you please post the 5min wave count chart??
CD : now i remember why my maid was working extra yesterday. she was cleaning walls,windows etc without even asking. I guess diwali question is round the corner :(
Rejection from 50 sma.Now what?
Look for 1.00PM close; Intra rises will not alter TA parameters but the closes.
Below 5035 & 5029, it is weakness again for a sell.
Sujatha 5056 is Month H3 - Sell area
@ Satheesh,
There is no ascending triangle I see.
But -ve div persists.
Last 2 H-JNSAR trades resulted in SLs getting hit. But still
gains are 455 pts in past month.
A bearish Hour candle is being formed in the current hour. 1.00PM Close will confirm it.
GD: if its not too much of trouble, can you tell me whats avg points nifty moved above HJNSAR?
@Sujatha,
If u see the Histogram and compare the last two peaks, u will see that the current one is not only much lower, it is actually embracing the Zero line. That means absolute lack of power. Sometimes it gives better clarity than MACD lines.
@ram charan,
I dont understand ur question.
GD: i meant, did u keep a log as to how much rise was there after trigger of HJNSAR each time.
Last hour(12.00Noon), closed below pivot & HHEma - Sell on rises at OB conditions. It did rise above 5045 but fell below 5035 again & continuing dn.
Fire what are the MACD parameters?
@Ilango
HOURLY CLOSE HOURLY CLOSE......the lesson of the day!!!!
Thank you
Fire - thanks :) what's the set up u r using for stoch and macd histo
Sir - குட்டி கரடியா- பெà®°ிய கரடியா நன்à®±ி
GD: in short i was asking avg points per every hour JNSAR trigger.
Indus - not only that Dear 'DR" announced his "book out" market down :D :D :) :) IT people watching DR :)
Hourly JNSAR triggered!!!!!!!
lol sujata ben
is dinesh sir wear new sunglasses?
BB reference points again:
Nifty below mid BB. nifty lower BB at 4968 and expanding in 30 min charts.
Thanks DR sir.
Yes the lesson of life hrly close.Thank Ilango sir.
Weekly JNSAR sell trigger ?
@Sandy & Sujatha,
The MACD setting is default 12,26,9. For Stochastics, I use 5,3,3/10,6,6 and 35,3,3 in Hour charts for different TF.
Bhushan - :) :)i "bow" to his discipline ..am not ableto follow his/sir's footsteps yet :P will do in advance and "painful waiting" whether buy or sell :( he no need to wear any glasses he is having his own "third eye" + having special power in his carnia
Upmove showing signs of exhaustion, but DJNSAR is still
up. Gap of Sept 21/22 a big hurdle. Bulls need to cross
this convincingly.
Wait for Hour close below H.JNSAR (5003)
Namaste Ilango Sir and all friends
europe in the red, asia mixed
@Fire, i would like to say that there is negative divergence on MACD
histogram since yesterday on ST (15 mnts) chart
regards
i am sell 5007 plz sl
Brave Heart Special
Time for optimism
day traders plz dont read
http://www.sharekhan.com/CMT/Upload/NewsLetter/Report/BraveheartSpecial121011.pdf
PUNTER'S CALL
http://www.sharekhan.com/CMT/Upload/NewsLetter/Report/Highnoon-Oct12_11.pdf
@Parimal,
I follow Hour & 5-min. only. In trending moves, generally Double Negative Divergence is more reliable. And when the last peak can't go much above the zero line, that's a whammy. You can check a similar event in Gold Daily. I suggested to my friends to sell@28150 for a target of 26500 and 25300 seeing this very phenomena in MACD Histogram. :)
Buildups on puts side, shedding is not seen till now...lets see
Sis
R Red-Indians collecting wood?
ilango sir from recent low 4759 look like 5 wave move 5th complete at 5056 and a complete at 5007 b is on...?
How many sold when H.JNSAR Triggered?
Red Indians Story
http://www.e-pao.net/epSubPageExtractor.asp?src=leisure.wj.Red_Indians_Story
Ilango sir, wht sud b SL for shorts taken today??for conservatives?5060?
@ dr - hahaha nice story
Real move starts after leaving out the weak hands on the street. Process of kicking out the weak hands is what we are witnessing today. Don’t be a weak hand!!
New Post Done.
is it forming rising wedge in 15 min chart?
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