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 ...
47 comments:
Reposting...
Master in your stockwealth blog...green means jnsar for the stocks has changed to buy...please confirm master someone asked me when i referred to him...
Like Prakash I too lost a lot & found the fault in putting a predecided SL. If I decided AND ENTERED a SL along with the order, then only it paid. Otherwise, my mind does not allow me to bear the S-LOSS when the market reaches that price in negative direction.
@ prakashbkc,
You should also find such reason/reasons, admit that here honestly and try to overcome the deficiency while trading.
Wish you all the luck.
2270-80 is resistance range for SBI in ..
464-65 is resistance range for HUL
Ashok Mehandiratta
for Swing trading rules are
1. When the word trading comes remember its not a part time job, if you cant devote full time trading is not your cake. Investment can be done on basis of EOD charts but not trading.
2. Capital and position size, if capital is 50k only one NF.
3. At any given time there should be only one open position in terminal either long or short as per JNSAR.
4. Entry should be only and only when fresh signal triggers, no catching the running train.
5. Trade all signals and be ready for 3-5 Stop Losses, more the SL next trade will recover all loss and give profit also, we dont know which trade will turn out to be the best trade of the year.
6. JNSAR + kar itbaar = Profit beshumar.
Ilango ji,
Seeing the oscillator moves , can ED C.5 from 5666 be a realistic option ??
Thanks sir, you always promptly come forward to help.
@ JN Fmly
Willing to learn EW. But hard to digest. Any appetiser? pls do suggest....
rgds
@Ilango
My observations are as follows and I would welcome your comments:
1. Bank nifty continues weakness and is below JNSAR
2. NS trading 10-20 points above DHEMA
3. NS 5970-75 is the sell of zone on three occassions
Case for sell on rises?
GM sir and friends :)
Crossover of 5954/56 may come after 1 or 2 pm?? looks like.. (but can't sustain i believe) :( so enjoy the week end grinding or downmove.
Prakash ji - me too lost heavily. 199% i am not the right person to advise you..but from my experience "if anybody gives us guidance/tips multiple support level/resistance level etc., etc., v should know one and only thing that is "v should understand the direction of trading"..
Example- v hv bearish engulfing candle but mkt moved swiftly. yesterday is bullish engulfing candle so far it's not sure "for upmove" . so it's time to think of "direction of trading" not the "candles" or "pattern" is my humble view. (am not against any chartists or analysist)
All the best for your future trading.
can any one tell, where to book profits in ASIAN PAINTS. As of now I'm trailing SL. You guys this still it is good to add more. I'm long from 4350 levels. Can we see 5800 levels in this rally ?
சுஜாதா,
H3-L3 நாள். புலிகேசி வரார் வரார் வரார்.
Ananda please keep strict sl as it is trading at upper range of price channel .. profit booking si on cards for asian paint ...
Cobra in market pivot is coming ??
@ Shriram,
"5945" being pre-mkt's resistance has acted as one and it is upto
"5910"-pivot cum 34 hr sma for aggressive traders and
"5885 or 5873", the dev. JNSAR/21 hr sma & day JNSAR" for conservative traders.
Oscillators give conflicting views at certain points when it is not in alignment with all T/F.
Shriram ,
how about WXY from 6112, sir has also marked red X
please let me also make some money on my shorts :)
anm ji - nifty spot bach gaya with "one run" (5899 low 5900 huh) but a small itching whether future level may touch 5897 atleast??
Dear Ilango Sir & Blogmates,
OI Table Update at 11:00AM, Pivot-5898, S1-5847, R1-5991, ATP-5945, VWAP-5945
The 6000CE writers are on the verge of creating a ceiling for this move, whereas 5900PE holding on, could see some ranged move till 5900CE writers are not active…
Thanks & Regards
Namasthe ilango sir and friends,
Today’s quote received :
When we act, we move…
When we move, we change…
When we change, we grow...
When we grow, we win…
Hence,
Keep
..acting
....moving
......changing
.........growing
...........at last winning.
range in market 5820-5980. (5800-6000) , 5915 is imp.
Ilango ji : tks sir
@ chetas : wave structre of rise 5793-5945 was 5fifer.. so cant be a Y.b :
Multi possiblities to EW eyes
1. If Y commenced from 5971 , then
(i) y.b can end near 5971 (Flat)
(ii) y.b can do max 1.382 > (5793+ {5971-5793}*1.382)
Note: y doing a ZZ is out as y.b > 80% y.a
2. Move up from 5666 is a MOTIVE WAVE
(i) If IMPULSE, then will tgt 6.3K plus
My pref view seeing 3wave ZZs right now:-
(ii)If DIAGONAL, then A &B are done & we may see C as
A 5666 5971 -305
B 5971 5793 178 -58.4%
C 5793 6037 -244 80.0%
Remember this:
No one could save you from the results of your actions except yourself....by taking prudent steps.
Gaining rich knowledge and meticulous application of the same would take you to riches.
If you pay heed to "people who act as though they know the markets", you will end up tossing like a "twig in the ocean".
If you are not yet educated enough, go and learn first before casting your net to catch the riches.
Riches are there...you can come in anytime to earn it.
Firly, learn...learn & practice.
@ N Ram, thanks for the levels
BN gone in its double century mode ... this time down.
Namaste Dear Sir and all friends
Have a nice day of trading
5886.86 is 0.382% retracement of of range 5791.75 to 5945.65
A 5 waves seem to have been done from 5946 to 5893.
38%-5913
50%-5920
61.8%-5926
80%-5935-strenth above this only.
Below "5892", it could impulse down.
Shriram
Thanks a lot, great explanation
till now a move from 6112 has complied with requirement of diametric.. or anyone see any violation?? now it look like contracting..
MASTER allow me to say something on JNSAR SYSTEM
IF We are talking about System , Lets Discuss more about JNSAR .As one of our blog mate & many other get benefit from it after long time trading experiencing it practically it is best one can do . Every system has its drawbacks, JNSAR manage with good rules come over best in this.
Rules I made for JNSAR Trading
1. Always trade with 2 lot , 1 lot book only when gain is 50 Points not less than that ( resone I will explain ).
2. Continue with 2nd lot till reversal.
3. Always Use 20 Points SL as par NS rate.
4. If Gap up or Gap down made in opposite side of our position , then wait for Hour to close . for eg we are in Buy as par JNSAR & next day made a gap down then wait for first hour If Low of hour break then reverse your position with 20 points SL.
With above Simple 4 Rule I have back tested JNSAR with hourly data I have . MASTER gave me those data .
Avg Points in 2008 :- 480 Points
Avg Points in 2009 :- 330 Points
Avg Points in 2010 :- 200 Points ( Only 2 month –ve return, JULLY & OCT)
Avg Points in 2011 :- 360 Points
Avg Points in 2012 :- 210 Points ( 3 month –ve return, APRIL, OCT,DEC)
Avg Points in 2013 :- 110 Points so far .
So its In an average 300 Points for 5 years , which is 18 % monthly Return on investment of 80K ( 20 K keep as a extra margin ) . If We skip 2008 & 2009 year as return in those year are high then also can get 250 monthly avg points which is 15 % monthly return . If Can do compounding in this Then as MASTER says one can definably Getting RICH SLOWLY.
Pure dedication , discipline, patience required for this . those three words required high degree of professionally act because FII , DII are participant so we are in competition with them as all are trading for money .Only Strong Mind will survive. Don’t just read this feel it .
Ohhhhh.....Sir,
Sometimes tears roll down reading your golden words which can save us from many our weaknesses.
Many many thanks.
if diametric then one more round of selling for 5850 which is 62% retracement of 5792 to 5946 possible.. Caution- follow master.. i am still a learner..
Master,
Golden Words..... "Master Stroke"
Regards
@ N Ram, thanks again for ur SL. can we reverse if it is hit ?
Is there any clue from midcap index?
Suja mam
The daily eve star resisted this morning.
One more eve star is seen at work in 30 min chart.
When everyone is so bullish may be a chota bear may work.
What say
@sandeep bhoite
we are in Buy as par JNSAR & next day made a gap down then wait for first hour If Low of hour break then reverse your position with 20 points SL.
It means gap down blow JNSAR or above JNSAR for wait for first hour?
@ saptharshi
only when gap down bellow JNSAR in this case as you may need to create new position.
@sandeep bhoite
Below JNSAR as per jn rule sell position na?
@sandeep bhoite
Thanks for making that effort. Can you please tell some details like -
1) Total trades
2) Total Gains
3) Total Losses
4) Number of winning trades
5) Number of losing trades
Am i asking too much ? :D If you have the data in excel you can simply find that by selecting the data :D It will help in finding the Risk:Reward ratio and probability of the system (is it necessary if you know that you will be profitable in the long run? :D)
Thanks again
hi sir please let me know is there any counter trend indicator
@ www.moneypower.com,
When Day TA is in uptrend, hour TA reaches overbought zone and start to move down, then that is a counter trend move as long as EOD day trend remains up.
Such a counter trend indicator may be found in one lower T/F.
should we go for call or put option currently?
@ A J
Yes I do Have All data that you are asking for . I will give u after market plz ..
@Master
If price closes below 5892. can we name as 3 black crows.
thanks
@sandeep bhoite
Sure :)
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