@IlangoTwo hourly closings below 34 hr sma, closing below all HHEMA and 5DEMA....early indications of a ST reversal?
@IlangoAlso BN as lead indicator...weak and desperately unable to hold above 34 Hr sma
Ilangoji,This Wave b is forming what kind of corrective pattern ?Are these labels appropriate::Wave A - 5866-5924Wave B(a) - 5924-5892Wave B(b) - 5892-5920Wave B(c) - 5920-5883Currently Wave C or B(X) is on...from 5883
probable EW counts ..A 5965-5865 = 100B a 5865-5925= 60 b 5925-5892-5921-5884 ( Irregular Flat) c 5884 -**** Equality to a ( 5884+60=5944) Break of 5865 before making a new high invalidates this count.
@ Waquar,This is precisely what was observed earlier.... a likely new high for the day in "(c)" of b.
pt4 nearly done in WW pattern prev postednow may dip towards 5875 to form pt 5any shorts at 5908 cmp may have sl abv 5917
@ Indus, Sustain falls are possible only after an EOD signal. Even here, there are possibilities of a counter attack.However, simpler guideline such as "Closing below DHEma resulting in sell on rises" provides a trader with innumerable opportunities to make trades. Last 3 days are proof enough as it did on many instances in the past.People get confused when they mix up time frames and not taking caution @ extreme conditions.
@Waquar,Do you have ramki's Book??
Dear Ilango Sir & Blogmates,OI Table Update at 1:00PM, VAH:5972, POC-5918, VAL-5898, WPOC:5946, Pivot:5943, VWAP:5941Evenly matched at 5900 Level, with ceiling for the series seems done at 6000 and the floor around 5800, Nothing much in Intraday….Thanks & Regards
@Prithvinope, but i learnt EW from Robert pretcher's book and Balan Robert - Elliott Wave Principle, rest i read the writeup's posted here by ilangoji, if u want i can mail you these above mentioned ebooks.
Crossed the MBB at 5908. Next resistance at UBB at 5947.
1.00PM TT & Chart Updated.
In my opinion, you won't find anything new in ramki's ebook, wave principle is very simple, but the only way to learn it is by constant application of it...
Ilango sir what is the ideal stop loss two hour low or threee hour low?
@Waquar,Please send me,
Trading close to 34-Hr SMA...
emas converging in ns 5 min charts25-30pt sharp move is expected anyside soon
heavy buying visible in NF, premium close to 44
s4s sir,is WW trade still active, why anyside?
Again resisted @ 5912 and fell.
WW pattern has now become channel pattern so may dip towards 5880-85 range and then may move upif breaks below 5875 then may trgt 5838 again
Ilangoji,Now it looks more like a triangle formation.a- 5866 - 5924b- 5924 - 5883c- 5883 - 5914d- 5914 - 5890e- 5890 - XXXX (Approx 5910) and then fall...
Good afternoon Ilango ji and friends
NF premium not ready to come down today, still at 44
Watch for 5882 to hold or not . biased may not hold
Ilango Sir,what is the relevance of increase in NF while nifty is below yesterday's close?Thanks
@ Sai Bhakt ,Market is at a critical stage.Current trend, being UP, the prices are being bid higher, hence the premium.One needs to be cautious as the current upmove has been considered as the "terminal move" of the corrective bounce.
@Ilango,As per the charts above the 5884-89 region earlier provided resistance and now this region is trying to act as a Support....Correct?
Thank you sir,I am learning technicals but dont know what is a terminal move.Regards
Ilango ji,Re-phrasing ysdays doubt:Cant C.3.v have finished @ 5965 (having done =C.3.i+5549) ??
@saibhaktTerminal definition: A point or part that forms the end.
Short finally trigger now as per Master's
thank you indus sir
New Post Done.
@WaquarEven it will b helpful for me if u send me too. email@example.com
Dear WaquarThanks a lot