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:
@Ilango
If the closing price is below tomorrow's JNSAR and
tomorrow's pivot, I would trade according to tomorrow's
JNSAR by 3.15 pm today
Ilango sir what is the value of JNSAR for tomorrow ?
o% brokerage at or rather watch out for cool offers at
ebay....
you know where to check it...
Hi animotra,
the value is 5032 and given in the table
Indus,
Basic lesson in trading – Follow the price. Early entry or early exit mostly lead to failure. Not to discourage you but heard this basic lesson from almost all the succeeded traders.
friends,anyone please give link if any,for auto refresh 5 min candle chart. thanx.
@ Indus,
From the TT, there are quite many trade set ups could be extracted.
For the day, the opening was @ Wk.Pivot-5052 and trading below it, it could reach Wk S1 @ 4962 which coincides with 20sma as well as Month Pivot-4957.(ST traders main support)
DLEma less 10-20 poins @ 5002-5112 has given a pause but the Hour TA still shows still Down.
Now regarding JNSAR trade, it is upto you to make the necessary adjustments. If you can not, stick to the basics. The idea is to remain independent. Being independent too, you can win consistently with discipline.
Tomorrow's JNSAR can be read from the TT.
Durga
Scroll down
therz link in Rt col
@Parminder thanks I am working with mobile where the table is not showing properly.Regds.
My Conviction about Kashmir !
Posted on October 18, 2011 by annahazaresays
Ralegan Siddhi
18th October 2011
My Dear Sisters and Brothers,
Namaskar!
Some people talk incoherent things about Kashmir related issues but they are unaware of the fact that when I was in the army I had taken active part in India-Pakistan war as a soldier. All my colleagues attained martyrdom on the border during the war with Pakistan. But I miraculously survived.
It was then I pledged the rest of my life in the service of my country.
Even today you can see the marks on my forehead left behind by Pakistan’s bullet. This is my active conviction that Kashmir is an integral part of India and will remain so. Today once again if I have to, am ready to take part in war against Pakistan. But some people can only speak and don’t do anything on ground (in reality for Kashmir) and this is unfortunate.
K. B. Hazare (Anna)
50 DMA has supported bulls so far. Will it do so for the rest of the day? :)
@nanjil
Basic lesson in trading – Follow the price: means buy when price is going up and sell when it is going down ?
Sir,
Till this, today range is only of less than 50 points.
5057.50/5011.05
though, there is another gap down from last close.
is it island reversal?
pdd
it seems market is ready for another new day low ?
@ Hitendra,
It is definitely not "Island reversal".
Kalyani,
That reply was specifically to Indus who wanted to sell based on JNSAR. As per JNSAR, we are still in buy i.e, price is yet to travel into sell zone.
thanks sir,
regards,
pdd
Howz ur day?
mine was
http://www.youtube.com/watch?v=xr6hRpIeFMs&feature=related
rex comments:
Next week, the Nifty is likely to face resistance around 5,230-5,295, and on the downside the index may seek support around 5,035-4,970.
finished sub minuette 3wave B : 5036-5017 = 19 pts (76%xA)
now C UP in play tgt = 5017+25 = 5042 to 1.618xA = 5057 :-)
Lets c , where nifty ji leads us :-)
best rgds
@ DR sir
Did you correctly bang your head sir?
LV
Venky
Cant I? :(
doctor dont get Sick?
Still cat on Wall
Ilango sir 2morrow's JNSAR developing at 5032 is it now
consider that Long trades should be executed at 3.15 PM.
GA Everybody....
Dinesh Rishi said...
Rule 1: Never Jump the gun
October 18, 2011 11:17 AM
how many jumped?
@ Number game,
JNSAR is in Uptrend with 5005 as SAR for the day.
If it opens below 5032 tomorrow, it would be a "Short". Even Now, it is struggling below 5032.
Tomorrow's pivot is 5034.
Yesterday's conservative suggestion was "Trade & Hold and Use Day Pivot".
@DR sir.
Thanks. Even doctors also can become sick.
For others:
The correct way to get head banging
http://www.youtube.com/watch?v=KgpiN9i45XM&feature=related
LV
Ilangosir advisable to carry over shorts? Kindly guide
@ Bullish cartel,
It depends on Where you shorted.
"Closing above Low emas but below High emas" means it is in a sideways mode.
Though Nifty went up to 5011 still there is not
that much addition in NF.Good writing @ 5000 CE & just 3%
unwinding in 5000 PE confusing market players.
Tomorrow shall be interesting trading day.
Bulls may try hard enough to give a close above 5040.
Let us see.
Thank you sir
@ Shriram,
"B" waves of any kind can have all kinds of patterns. It is part of the corrective that is correcting a fall or rise but is in the direction of that fall or rise. Hence, it is the most challenging one. Most traders lose in this part of the correction.
Nifty found that a lot of traders are confused on whether to add to longs or open shorts and hence decided to close above tomorrow's (developing) JNSAR to put all speculation to rest.
Venky
Thanks for the detailed procedure
Keep on guiding us
With regards
:D
fibo up lvls are
5046/5068/5086/5103.
we may see 5086/5103, if western cou are up.
pdd
and at last bullls win
Yes illango ji,
Tks , i will keep tat in mind.
Can u pls look again @ the alt labels from 4720-5160 as a RUNNING FLAT
Kindly let me know, if this move today is the strat of a new impulse?
urs
http://www.weirdlyodd.com/wp-content/uploads/bull.jpg
Ilango,
Is it possible to avoid JNSAR trades in the flat or corrective phase?. Is it advisable to tone down the exposure in such phase?
A or 2 finished? Wouldn't that be just groovy!!! :P
Though a lot of confirmations needed yet. :(
@Hitendra,
A gap up tomorrow can create an "Island Reversal" probably. If it comes, confirm from Master.
http://www.incrediblecharts.com/technical/island_reversal.php
@FIRE,
Did you mean 'A' OF 2 ? If so, this will be a huge bull
run !!! Wave 1 is 4729 to 5160 !!!
EW folks -
Do you think this wave from 5160 to 5010
1. Is a Wave 2 of a major bull run ( starting from 4729 )
2. Wave 1 of the beginning of Wave 5 ( or 3 )down for the fall from 5740 ???
@shriram,
Another thought that is going around in EW folks
for S&P ( which is very similar to Nifty ) is
Wave A - 4720-5168 ( end of Aug/beginning Sep - 8 days )
Wave B - 5168-4729 ( very complex abc-x-abc )
Wave C - 4729-5160 ( 8 days ) - just completed
So some folks are calling for a straight fall down
as Wave 3 ( or 5 ).
Let me know your thoughts.
hi GD,
agree wid ur lables , i have similar thoughts for FLAT as 4720-5168-4729-5160
But, the sub fracs do not 100% support the B wave 5168-4729
Alt option is :-
W: 4720-5168-4759-5034
X: 5034-4729
Y:4729-5160 ** in play
This is wot i see
best wishes
SMO
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