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 ...
41 comments:
@ Manish,
Averages may be aligned bullishly but the "most important price" is below "all of those averages".
It will start to look mildly bullish only if it closes above 200sma first.
Remember: Good news during downtrends are opportunities to "Resell". Never forget this. Only exception would be (rare) when the price itself is exhausted & at its terminal stage with +ve divergences.
Sell NIFTY around 5124-5078 with SL-5186(Weekly closing basis)
Major reversal point is 5078. Safe Selling zone is below 5078.
Sure SELL call if 2-3 days or weekly close below 5078 level.
Below 5078, NIFTY will target 4775 (minimum). My target is 400-500 points (ie around 4700-4600 level)
Above levels are my predictions, trade carefully
c of 4th may be ended with ending diagonal..5 min chart
Illango ji,
Possible corrective ABC to 5279-4990 in play ??
A done ysday as an impulse : 4990-5125 = 135 pts
B in play to 50-61.8% = 5057-5041 sir possible ??
Sir,
Trading within levels mentioned by you along with Fib.
Great results.Sincere thanks.Would like to learn Elliot
wave theory also.Is it available on our site.
Pl Guide.
Thanks again
@ Prasad,
Elliott wave in 4-Parts
@ shriram,
If 5040-61.8% holds, it is possible.
Thank you Sir
Ilango - I undertand that it has to touch 5040NS today or
tomorrow before any further movement on any side. right?
Thanks Illango ji,
so.. wot do we do here, ur advice?
The way price is failing to close above 5Hrly CEMA , not getting clues :-(
@ Janak
Tellipathy
@ shriram,
After a sharp fall on 04th, a sharp recovery on 07th but below the middle point of 04th fall and today is a keen tussle between bulls & bears....resulting in many intraday swings.
A decisive move is likely tomorrow.
Camarilla Intraday Update/Follow Up:
L3@5077
One more chance!
@ illango ji,
tks sir
@ master
Thanks for the EW readings and for the Guidance.
Regards Always !
Holding the lows, another trading opportunity.
previous fall 2008: (1st)6357-4449=1908 points
(2nd)4449-5545=1096 points
(3rd)5545-3790=1755 points
(4th)3790-4650= 860 points
(5th)4650-2253=2397 points
current fall 2011-12: (1st)6338-4531=1807 points
(2nd)4531-5630=1099 points
(3rd)5630- ?? may be 38**..
SAM JI must read why i am holding short.
the word may be
Is very dangerous for bank account
An interesting article for investors: http://www.uttarakhandportal.com/2012/05/must-read-article-if-you-invest-in.html
Or at least for passing Nifty's grinding time lol
What a grinding near day's low...
Camarilla Intraday Update/Follow Up:
For BUY L3@5077
SL 5057 is 20(JNSAR filter)
Reversal Only Below L4@5039
(if hits!)
Today Lunch
Kadhi Chawal (Yogurt Curry with Rice)
https://lh3.googleusercontent.com/-uRb3w8q51t0/TXLsqanvl_I/AAAAAAAACcs/9_TsAG-08QE/P1000063.JPG
Dinesh Rishi Sir : Nice one Sir, but we can't trade in nifty with this small..
DR sir
my lunch today
http://www.bobspeanuts.com/blanch.jpg
Camarilla Intraday Update/Follow Up:
SL Matched.
Now new trade Above L3/below L4!
One of My Observation in CAMARILLA TRADING
When Market Open Between H3 & L3
90% of the days BUY above Resistance
SELL below support won't work much.
*Especially I mean the ORB.
Its just an observation I may be totally Wrong,
bactest from your side.
@ J.R.Julius,
HL5 5254 Immediate upside target after Break Out
HL4 5191 Break Out on the Upper Side
HL3 5152 Go Long above these
LL3 5076 Go Short Below These
LL4 5038 Break Out on the Lower Side
LL5 4974 Immediate lower target after Break Out
The above is as per the camarilla file I received.
Accordingly, there should be a sell at the break of L3-5076. Isn't it?
back from lunch -->
Illango ji,
B : 50% done @ 5055 , C up 135 pts , worth it sir ??
wot wud clinch this EW label ?
Sir
I usually calculate from here
http://www.pivottrading.net/pages/advancedCamarilla.php
Just a Music - Stress Buster
to who takes everything Cool
in their life.
Especially Dedicated to
My Beloved Guru Mr.Dinesh Rishi.
http://www.youtube.com/watch?v=4QRpqibDvKA
@Mr.Illango,
HL3 is SELL
LL3 is BUY
as per original Camarilla Trading Rule.
Today Opened in between H3 & L3
*Scenario 1
Open price is between H3 and L3
For Long
Wait for the price to go below L3 and then when it moves back above L3, buy. Stoploss will be when price moves below L4. Target1 - H1, Target2 - H2, Target3 - H3
For Short Sell
Wait for the price to go above H3 and then when the price moves back below H3, sell. Stoploss will be when price moves above H4. Target1 - L1, Target2 - L2, Target3- L3
Kumar Sir
Lolzzzzzzzz
TAARE ZAMI PAR:)
@ shriram,
It is already unfolding, holding 5057-50%.
The counter trend trades are always risky but the "c" waves are highly rewarding if spotted correctly. You need to follow them with trailing SL oncve the moves are underway beyond c1, c2..
Doubt is closing below HEma-5079.
@shriram
should't the c wave comprise of 5 waves?
@Mr.Illango,
As per http://pivottrading.net/pivot/pivot/advancedCamarillaPivot.php
site
CAMARILLA
https://lh3.googleusercontent.com/-F_Kcq_nOXiw/T6jZYJ6Wh0I/AAAAAAAAAoE/cl-8LtLvPTQ/s397/CAMARILLA.png
if ns breaks abv 5976
is it a buy as per cam levels ???
sorry its 5076
New Post Done.
@ illango ji :
many tks sir, ur view gives confidence in trade !
@ The_Unprej_Obsv :
YES! "C" waves can either be 5fifer Impluses or 3-3-3-3-3 Ending Diags
@Mr.STOCK4SURE,
Above 5076 BUY with 20pts SL/your own SL.
Below 5039 SELL with 20pts SL/your own SL.
Wud like to share my view on Nifty
http://lalitlk-lalit-lk.blogspot.in/2012/05/nifty-wolfe-wave-set-up_07.html
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