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 ... -
Will not be available to intra update . Suggest one of our readers to update on DHEma-HHEma-HCEma & HLEma for possible support points fo...
18 comments:
jai hind master dr ji n all
Nifty grinding in ATR Sell zone since morning.
HI all, I feel that we are making a wedge in 5th wave of C. if my observation is right, then if 6160 doesnt cross in the next 8 trading days, then we might make a top in next few days and then the next bear phase of market should set in. here is the link to the chart Click here
Friday is operator day,
Nifty may close below 6000.
This is only wild guess not for technical based
a 6063
b 6079 done
c upto 6035 running will complete before 1:45 pm
Dear Vikram a g:
In an Elliott 5wave sequence, pls note wen 1=3 %, then 2 options present themselves:-
1. 5th is =< 0.618X(smaller of 1st or 3rd)
or
2. 5th does > 1.618X(smaller of 1st or 3rd)
5th has already done > 0.618 x 1 or 3 ... pls re-check the count
@shriram,
YOur understanding of EW is different than mine. EW is subjective.
@Shriram,
If as you say 1=3 then what difference does it make to count the smaller of 1st or 3rd?
Dear Ilango Sir & Blogmates,
OI Table Update at 1:00PM, VAH:6055, POC-6034, VAL-6013, WVAH-6037, Pivot-6042, VWAP-6083
PE writers still better off, but CE addition has gained momentum from the last update…
Thanks & Regards
@ Vikram: Ok, then i hv nothign further to contribute to ur count, tks
@ ITradeFor Profit Daily:
Pl read again, said " %" wise, since this is a Higher degree count
In this case C.3 = 103% x C.1 (3>1)
If So, then 5 either has to be small (to allow both 1&3 to Rxtended > 1.618x5
or
5 by itself will super-extend , doing @least 1.618 x (1 of the waves 1 or 3)
Hope this helps
rgds
6059
Sir, is this make or break for intradayers ?
@shriram,
Yes i misread your observation.
Still am new to this EW nomenclature.
@Ilango
If NS were to close below 6070, could we infer that a temporary top is in place and we are on sell on rises?
@ Indus,
There is minor -ve div in Hour charts and the correction is on from the "Rising wedge resistance zone of 6080-90".
Only a close below 6059(DHEma) would confirm a "Sell on rises", a new signal.
Nifty,BankNifty and MidCap are NR7 day (As of now).
New Post Done.
operator's game start at 2.15.
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