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 ... -
Trading strategy that works wonders besides the supports & Resistance is " Retracement strategy ": The strategy that has wor... -
If the steady FIIs inflow reflects in the prices, 5405 should be protected going ahead and market may encounter minor corrections and keep m...
75 comments:
Gm Illango sir,
Plz accept my Belated Birthday wishes.
I am back to my place after 3 months & just visit here to say a
hello to all.
Still all hourly closes above JNSAR is the only
worrying factor.
Respected Sir,. can intra longs be initiated with an hourly closing above DLEMA or they shud be treated with repective hourly time frame only i.e. with a close above HLEMA?
@ Golfdude, Very nice trading system HLEMA- HHEMA.
Plz post more about it in ur free time.
Tomorrow is a working day for trading.
Timing 11.15 to 12.45.
my broker told me.
dear Ilango sir,
I had shorted nifty @4718 as per j10sar for daily basis( positional trade) , now what should be the reversal point, i.e. filter will be used now or we will be waiting till tomorrow.
thanking you with regards,
Hi musti !!
There is unusual buidup in 4300 PUT..almost 27% OI ,
with ATP 13.67...also 4700 CALL writers seems ultra
buidup eventhough on intraday basis...
Hello Doc hoe are U & ur trading?
ilango sir at this time hourly is OS but daily is OB so how should deal with such situation.
@ Navtash,
Know in advance your "Total trading plan of your chosen system/ method" before execution of trades.
Once chosen and made a plan, simply go by it. It would start bearing "gains" over a period of time. There will be some whipsaws taking out 20 points from you...there will be adverse gap ups/ downs occasionally but overall your system will ensure you are in the "big-gain trades".
Namaste Ilango sir and all,
Supports:
Week Pivot -4680
Day Lema -4690
100 Hr MA - 4690
The 50 Hr MA is at 4701. So a fast rise set up in Hourly charts with 50Hr MA and 100 Hr MA.
Resistances:
10 Day EMA - 4718
13 Day EMA - 4722
Month Lema - 4730
There is a potential fast fall set up in Day charts with 10 DEMA and 13 DEMA.
Will Hour gain over the Day??
Good Afternoon Master and copy to All
@ Sarvesh,
Always have a combination trading system such as:
Week/ Day TA for positional.
Day/ Hour for Short term as well as Intraday.
After Day closed below DHEma, the week/ Day presents a sell on rise but without down momentum as the closes have been above both WLEma & DLEma.
As for Day/ Hour combo, similar sentiments except that Day hasn't triggered a sell by closing below its DEma yet.It could be today.
As the colours in the TT changes, you can feel the strength & weaknesses of different time frame.
As long as the higher T/F is in sell mode, treat the greens in the lower T/F as a ST play only till other "credible reversal patterns & divergences emerge".
Nifty Hour MA chart:
Click Here
Time for a puli
Girl : Can you be the sun of my life?
Boy : Yes ofcourse, why not. I am dying to be the
sun in your life.
Girl: OK then. Go 1 lakh Kms away from me!!
Thank you, Sir!! will try to implement it...
dear Ilango sir,
Thanks for the reply , what i mean to say is , if a fresh trade is taken today , does it require to have sl for reversal for today also ,
thanks
@ Shivan Gupta,
At such situations, you could reduce your long positions (after the close below DHEma) till the day reverses or the sideways pattern ends decisively.
Aggressive traders would take clues from the prices stagnating at certain points to initiate "counter trend shorts" for the ST with a reasonable appropriate SL.
@Satheesh,
Keeping something for everyone? :D
20/200 Fast Fall setup for Bears and 50/100 Fast Rise setup for Bulls!
In which TF? Hrly or Daily
Sir,
I have a doubt. For the past almost 3 days from jan 3rd, except for the 20Hr MA, the 50 and 100 Hr MA"S are almost constant. i.e - whatever be the movement within the Hour the Hour close has almost been uniform. Now Nifty is held between 100 Hr MA and 200 Hr MA.
Does it have any significance??
@ Fire,
Do you see a chance for 4570 - 4580 as per my posting.
@navtash.... Read previous green boxes... of today...
you will get your answer.
Good Afternoon Sir,
I want to trade in lower t/f. But when I make a plan.
there have so many numbers in my eyes. monthly,weekly,
daily and hourly all t/f emas/sma, Gap up, fibonacci,
sometime all these nos comes in 50-70 points range.
then conflict each other and confuse me. what i can do.
I think, I have lot of numbers in my bag, but I enable to
make then systematic. most of time I waithaged them in
wrong sequance.
plz help. how I came back from this situation.
Heartly Thanks.
Yesterday's HHEma-HLEma trade ( short ) at 4748
is going good and has made 24 pts as current
HHEma is 4724. Also we are trading below D-5Ema
which is good for bears and 4690 is DLEma.
Fire,
There is a fast fall in day charts too with 10ema and 13 ema.
With close below 4730 I vote for Bears.
@marketrider,
That's why,we follow JNSAR provided by our Master.
Ilango sir ,
I am short right now ,
trade plan says ..
At 1:00 close look for close above /below
1)Day 5 ema at 4818 / hour 5 ema at 4717 .
If above then close position If not carry it .
Before that 4710 will act as resistance , if that is crosses upside then I will be cautious.and if closes above 4718 then I will act and close the position .
Am I on right path ?
Warm regards
Smita
marketrider
एक साधे सब सधे ( Ek sadhe Sab Sadhe )
@ Navtash,
If a SAR trade is taken based on "Close" prices, intra management would not arise.
There are times these "close trades" miss out on big initial gains.
If a SAR trade is taken during intraday moves, it needs to be managed with a reasonable filter and reversed if need be.
There are times two or more whipsaws happen in a day.
You have to choose one and stick to it.
More clues of strength & weakness may be gauged by:
Whether JNSAR is triggered after Day had closed below its DEma.
Some monitor also whether J10SAR is above JNSAR for strength and below for weakness.
Keeping it to simplicity will reduce conflicting thoughts.
@ Marketrider,
Quite simple:
"Golfdude" has chosen HHEma & HLEma and he has been "steadfast" with it and shares his experiences with them here.
You too could choose one of the number and stay glued to it.
Let this sink deeply in your mind:
No number could provide "fail proof" trades. having a number that gives less whipsaws help.
In the end, it comes down to your "obedience to your chosen method over a long period" and keeping yourself from distractions will make the difference.
Jayaraman sir - thanks.. "garlands" on your way to "house" :)bring me 4588 atleast yeah by next week is enough nothing hurry for today only :D by the way will market obey to me :P "NOOOOO i have to obey" :)
satheesh - thanks..don't allow even to 20 level
Vaccination for tension free trading ::: JNSAR
NF 15min showing bear flag
@ Smita,
If that is the number which decided your entry into a short trade, then that is the number should also guide you further.
Let us not transgress from one no. to another.
Heartly thanks to
@Ilango Sir
@ Dinesh Rishi Sir, and
@Parbhakar
for your Guideline and valuable thought.
thanks again.
Sorry Parbhakar sir
read as @ Parbhakar Sir,
Sorry again.
JNSAR just missed the tsl by 3 points
@marketrider: It seems you are in tension mode... Lolzzzzz
Thank you sir .
@Sanjay Sir: Any noticeable changes in OI for deep OOM puts (4400 & 4300) ..? Are bears gearing up for a sharp stab to nifty?
Prabhat -since 2 days "bears catwalk on dalal street" @ 2 pm only??? by the way i request mynac to look into this puts.. mynac pls. and check mail ..someway prabhat is giving approval??
@ Sujatha ji,
Thanks for your kind Words. I am encouraged by your comments. After lot of analysis this is what the calculation comes. As Illango Sir often reminds us to stick to our plan as per our belief based on your studies. Though I am confident, bit of fear is hunting me. Finally, it is the market which is going to say to what extend I have traveled in the path of learning.
Regarding Fail-proof systems, I remember reading an interview of Steven Cohen (arguably the greatest trader of our time), that the best trader in his team has a success-rate of about 55-60% and he has got a phenomenal return! :D
Good Afternoon Sir
Namaskaar!!
Special trading session tomorrow, 11 - 1.
Is that correct?
Jayaraman,
Obviously possible. But the day I learn to count waves successfully like Master or Aarvee, I would be able confirm or deny any count. Still not eligible for that.
@ Fire ji,
Gleen Neely also says that 50% success rate is the excellent achievement. He goes on to add that this applies to even best of technicians.
Dear Sujatha,
Just Observation
Since last two days, FII behavior & intra NF O.I. addition/deletion is very interesting …On intraday basis, there was almost 12 to 15 lac O.I.addition in NF but in EOD Bhav copy, there is not that much reflection of the same, & FII became net buyers since last 2-3 days, which is probably suggesting, just profit booking @ higher level and Bulls changing the hands. Even today, the fall has normal day alike volume support in Nifty FNO section, particularly in NF. Since last 3 day’s PE ratio for index option is rising which favors Bulls, slightly more is my understanding. The cooling off from 4800 was need of the Hr.due to over bought conditions but still weekly & monthly charts are not that much suggestive for any deep fall, nevertheless Price & JNSAR is always there to decide the best.. Lot of hopes are there for 4660-4690 which may hold this fall, as they are weekly supports as per my understanding..& lot more is depend on the gap up opening from up 4637 to 4675, on 3rd Jan .So let us see whether there shall be any more cooling off in Hr & Day tech table or not?
Disclaimer :Market has proved me many times wrong.
Thanks and Bye everybody
Get Rich Slowly !
http://www.getrichslowly.org/blog/2008/12/16/how-much-does-the-stock-market-actually-return/
@ all pattern experts
sir,
making a bearing cup & handle in RELIANCE hourly.
Plz check and confirm it.
bearish (typing mistake)
Jayaram even the bear flag is targetting your specified range!
Fire - see he is a true trader..calculating the success rate also "with FIBO NOS" :) :) thanks for the input
Jayaraman sir - looks like 'over respect" to me :P pls not still i remember your "4760" levels so extra breakout 83 is a bonus that's all for timebeing??
mynac - thank you very much..if u r a small bull also a worry for my position
this may be last attempt by bulls to break abv
55ema in 5min charts
bank nifty is only hope for bulls,
@ Sandy ji,
Thanks for your confirmation.
JNSAR SL hit? Now reverse or wait for hourly close above HHEMA
IT and midcap index at res of 55mema and
ns also near sirs immed res of 4723
@Sujatha Ma'm: I am long on nifty @4725 spot with
SL of 4690 spot.
I feel today's closure is very imp. In case nifty:
1. Closes below 4690, then I think of going short here with 4640 & 4550 as tgts keeping 4710 as SL.
2. In case it closes with 4690-4710 spot, then I feel we are still due for a tgt of 4825 before the next leg down. This is most frustrating since the nifty grinder will again come in.
But somewhat I get the feeling that every fall is being supported by buyers. But accumulation of deep OOM puts (as 4300 today) worries me.
Stop loss hit.
Bye for today
Have you booked your?
UbiSlate 7+ (Upgraded Aakash)
http://www.ubislate.com/
Fast Fall set up in 5min Bank Nifty Futures. invalid above 8420
@DR Sir,
I booked my but .... I got for the month of March.:(
SATHEESH,
IS THAT IN NIFTY?
SAM
any idea when they will deliver March booking?
DR Sir,
same. march month.
4783/4687
38.2% is at 4723.
resisted till now.
New Post Done.
No in 5min Bank Nifty futures. In Nifty there is a possibility but has not formed clearly!!
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