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 ...
46 comments:
@fire
what it implies..??
nanjil said...
Have tight grip with this or the max is next JNSAR trade in nifty and bank
nifty. minimum 40-50% ROC you will get. Am smelling something big.
September 30, 2011 2:27 PM
......................
Above comment was posted after JNSAR sell took place at 4954.
We are 200 points down.40% returns in couple of days.
Either you develop a system or follow a developed and well tested system like JNSAR.
And you must believe it that is the very important part.
In any SAR trading, there is a indicator before the big ride starts. Whipsaws will frustrate you. You
decide to stay out of the trade due to stress and when you stay out, the big ride starts without you participating in it.
Even in today’s trade, before making a big fall, NF cleared day high. If you are shaken, you are out.This is how the weak hands will be thrown out of the ship.
Only solution to win big - STAY!
……………………
guru ji always ROCKS, Patient is key
dinesh sir can help, this patient thing
@DR,
JNSAR explained by SAM,
20-25 pts filter when JNSAR is used to entry and 50 /100
pts partbooking tgt , trail followup with daily JNSAR ,
for remaining and to reverse
now am i right sir,
as my understanding JNSAR is diff from PSAR, JNSAR is
calculated and updated by master
explain this too
nifty getting prepared for 2:40 show...
@ AshishAg,
What if this is "still the 4th"..?
The week has turned down last week along with Day. The testing time is tomorrow. If today's close is below WLEma, it would add to the 5th scenario.
When prices retrace a particular fall faster, that would give an early clue. Till then stay with the Pref. view.
Yes
ilan kaalai
Now you got it
Cheers !!!!!!!!!!!
and start minting
nifty unable to retrace 38.2% (4782).
4870/4728
pdd
Previous swing low 4720 not broken today.
It will give lots of talking time to so called different experts today on bussiness channels if it will be broken or not. :))
Adios.
Sir is this resell zone or wait for more upsides.
@DR ,
today JNSAR @4945 so sell mode running , i ddnt enter still
when i can...?
some one said doji today in morning
Plz raise your hand
otherwise........
ilan kaalai
If missed bus dont ever try to catch running buss
(cos our profit we use as SL or TSL)
wait for next opportunity
Mkt is forever :D
Is there -ve diversion on 10 min charts? Seniors pls
confirm.
DR sIR,
I am for Dojiii.
& considering, i covered my short near 4840.
& then horror show started....
pddd
DR sir,great saying.never feel left over,wait for next oppurtunity,mkts are for ever.ZINDABAD
Sir, can the 4th wave make 50% retrace from the day low 4730 ? I think 50% retrace would be around 4800.
@Dr sir,
What you say?
:)))
5th starting ?!
@drsir
Present sir
Marubozu closing black
Hitendra
You said Doji
listen to this son now
ae ji o ji ae ji o ji lo ji suno ji
(today no doji)
main hu man mauji karta hu main jo woh tum bhi karo ji
http://www.youtube.com/watch?v=TkRD8-C80Dg
Cheers!!!!!!!!! dont take it seriously :D
jigs
Marubozu
is circuit candle :D
38.2% retracement done .Now what next ?
@drsir
In full form!
Lol
Sir +ve divergence in hourly chart? pls confirm sir.
A perfect Flag in intra charts.
@DR
ok sir,
but how we usr hour JNSAR for reenter? or advance reversal sign
@ Fire,
A big flag in the morning & then a break down.
Now a smaller flag & poised for another fall.
jigs said...
@drsir
In full form!
Lol
"money makes mare go"
If trade goes against dont feel like posting :(
DR Sir,
I am not taking seriously.
Confessing.
cnx midcap near low........
But, now confident as has broken 2 days short move.
pdd
@ Number game,
Yes. there is +ve div in Hour. But this being a considered "iii"rd wave, I'll be cautious. Often the +ve div in "iii"rd wave fails.(Traps).
ilan kaalai
focus on EOD JNSAR only for first 6 months
@Anil,
Diametric is 7-legged corrective pattern, labelled as a-b-c-d-e-f-g. At the end of g, the next impulse begins. Its alternate legs show similarity in price and time.
In the morning, I noted that every intra rally from yesterday was getting of about 40 points. Then I remembered this pattern and it was a perfect fit. You start from the morning low of yesterday and u will be able to label it quite easily in the 5-min. chart. It enabled me to add some shorts at the end of g (Also the end of ii as marked by Master. Got plain lucky.) :P
from 4790/4728.
down retrac lvls are
4777/4768/4760/4760/4752/4741/4728.
pdd
Dear FIRE!
When you are holding bear flag then no worry for bears, then whole october must enjoy red Deewali:)
Master,
Thanks a lot. Any word from you gives me a lot of courage. Now please bless us bears for the 4626 to come soon. :D
@fire
thanks...got it now..
Satheesh got lazy today. Not alerting about the nice Fast Fall setup now. :P
Can u become a millionaire by trading?
yes
But you need to be a billionaire first
Hour chart update:
http://3.bp.blogspot.com/-LxFf0ZSSyMI/TorVYKo_gOI/AAAAAAAAAWo/rr6GyqzFE_4/s1600/Oct4+hour+abcd.png
If the current low holds or from 4685-4720 then it is a bearish shark Pattern. If the low breaks then it becomes a Bullish ABCD pattern with much lower targets.
Remember what sir said yesterday,
mkt waiting for moving average to catch up, today
morning hourly jnsar came and mkt got sold off..now again it seems waiting for hourly emas to catch up...
@ilankalai,
I don’t know if you are serious about trading. If you are serious, then my experience below.
When I entered trading business, I visited all the forums. I read all the articles. Nothing went into my mind. Acted on every tom, dick and harry’s advice. Failed heavily. Wasted lot of nights searching for very good TIPS service and subscribed to them. Failed miserably. Read all business papers and watched all TV shows and acted on them. Lost all the savings. Confidence level was at rock bottom.Left the market for some time but was watching all the activities. This blog was also not helping in my early days. I was clueless about what was happening!! I had no idea about how Ilango makes Table. I followed his comments and traded and still met with loss due to misunderstanding. He might have replied for short or long term but I took it for intraday and vice versa. Lot of noises here distracted mine and couldn’t pick up anything. Finally, read most of the articles again and again. Read some of the old day’s comments too (for example, some bigger movement day’s comments). Reading old day’s comments helped how Ilango approaches trading and how he created the table and how he follows it.
I never asked even a simple doubt here with anyone. I knew that it will not help me. Teaching will make things live for short time. How many of us know the year of first and second panipet war and salt march dates. Because it all came from teaching. Learning is the only way to educate yourself. So, I refused myself to be taught but I learnt myself from this blog and from many other trading articles and books.
Don’t feel bad as you are alone and also don’t think that everyone else is making money and you aren’t. It doesn’t mean that all active voices are making money. People who makes money never speak out because they have enough work in hand and don’t have time to speak.
Am sorry if you feel am underestimating you. But this comment is not only to you but to all the freshers who are lacking direction.
@ fire
:) - Bent on pulling my legs today !! it's okay!!! I alerted about the fast fall set up today morning!!!
Busy with puja schedule at native place away from chennai. So late updates!!!
bye bye........
dandia @ dow in nightttttttt
pddd
For Anil,
"A diametric formation is a NEW pattern I (Glenn Neely) made in 1990- about two years after I finished Mastering Elliott Wave. As a result it is NOT mentioned in the book.
A diametric is a 7-legged formation (Triangles are 5 and Flats/Zigzags are 3) that does NOT involve an x-wave. As a result, instead of a-b-c-X-a-b-c, I had to continue with the alphabet, labeling it as a-b-c-d-e-f-g. The distinguishing factor of a Diametric is the similarity of each wave segment in time and complexity to the other six. In Flats and Zigzags, time/complexity differences are extreme between waves a, b and c. In Triangles less so, in Diametrics similarity is the rule.
In general, Diametrics appear to occur in two main categories. One, which is a period of expansion, is evident during waves a-b-c-and d, the period of contraction for waves e-f and g. or the reverse occurs. Contraction first during the first four wave segments then expansion second for the remaining three.
This creates the look of a bowtie for the first series and a diamond shape for the second."
--- Glen Neely
@Fire
Thanks, i am not that much EW focussed, my intention
more on tech table and i play momentum more...but
really appreciate your help...in my earlier days i
used to read about vivek patil but never understood..
i sway..but what sir here taught us, is simple and not
at all comlicated..if one doesnt understand EW, tech
table is the guide for them...
after many days now its red all over...
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