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 ...
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NS on way of century....
@ Vishnu,
The price study suggested that recent resistances were 5749(earlier support) & 5739, recent high. Similarly the supports were the recent lows 5674-64.
Above 5739-49, the ST bias turns +ve.
How you take advantage of these studies should be left to "individual's choice".
There are times we take next day's JNSAR and there are times we apply filter to even the day's JNSAR.
"5777" also happens to be weekly camrilla's "Go Long Above" number.
Whatever you do, keep a small SL.
Respected Sir,
Thanks a lot for clarification.
Sir though in the morning the JNSAR in graph was 5796 and thereafter the same has been changed to 5776. Thus considering the said changes I have bought at JNSAR level. Thanks once again for the clarification.
5777- tmrw jnsar
5779- 0.618 of 5850/5664
5781- DHEma & 0.38 of 5971/5664
looks for larger retracement of 5971 and 5664 have a nice Time bye.
Respected Sirs, Y'day I shorted Apr Nifty Future @5731 and today morning again @ 5779. Now it is @5830. Can I hold the short or I have to square it off. Kindly guide me. Now I am in confusion as i lost heavily in Feb holding on to longs. Now I am incurring losses in shorts also. Kindly guide me.
Seems like an Extnd 5th within impulsive rise from 5666,
if so will end now somehwere near 5790-5800
@Master,
ANy Change in Conservative Trade SL & SAR Level? or 5805 intact for the day.?
Thank You!
suja mam
if ur still around
the retracement suggested in the morning is over.
anything more is a bonus and risky. so closing shop.
thanks
sir ji,
wave-c completion and then acting, HELPS
@ Nitin Kadam,
It remains the same for the day.
Sirs, Plz respond to my query above. I know I am troubling this elite fourm. But I am in total confusion. Plz guide me.
Bullish Kicker Signal on Daily Chart.
sir its looking rising wedge on 1,2,5,15,30 min time frame from 5725 ur view please...
@ marina s rao,
Never keep a position without a "small SL" - we maintain 20 points for most trades and it may be extended to 25 or 30 in rare occasions.
I or any other individual has no "certain knowledge" of what the market will do next.
Most do guess work & predict and markets often oblige to deceive.
When short covering sets in, it is difficult to say how far it could go.
@ Master,
If this is the wave-4 and also you mentioned the target near 5600 or 5505 than can we use it for short at this time???
option masters:
is there any writing in 5800PE/short covering in 5800CE?
thanks.
@ Master,
After 3PM the next day JNSAR 5777 consider for long?
Plz spot price update me for 2/3 sticks
thank you Ilangoji for your advice
5785.5..???
Isit 5781 now?
hello friends
prices are resisted at lower keltC....to negation down trend prices must close inside the keltC. and tom follow-up action is also required.
thanks.
debdeep sir
yesterdas candle was a japanese paper umbrella a classic reversal candle needing confirmation of course . which has been got today.
todays candle stick cannot classically be called kicking (keri ashi) as both the candles must be marubozu( gregory l morris candle patterns).
just a viewpoint
Deepak,
Is today daily candle a Bullish Kicker candle ? I think it requires confirmation tomorrow ?
rishi M
it is not a classical bullish kicking is what i was suggesting.
but a almost marubozu bullish candle with a gap up and a paper umbrella preceeding does call for further upmove and is short term trend reversal.
along with jnsar long i think longs are good for now or on some pullback till 5816.
also a careful look at last 5 candles before today
1st bearish engulf
2nd a harami bullish
3rd bearish engulf
4th bullish harami (low)
5th bullish harami ignore lower penetrating shadow
then today a bullish marubozu
now this is a goodset up for an upmove.
will it deliver tomorrow.or in a few trading sessions or will be tempered by the bearish trend medium term we will wait and see.
but at least it advises shorts out for now.
hope i have clarified ur query
DP
Deepak,
Below are the two conditions for a Kicker signal.
First, in a Bullish Kicker Signal, the predominant trend should have been downward. The first day of the signal would have opened, traded down, then closed lower than where it opened (Yesterday was a red candle my friend).
Day two should have opened equal to or above the open of day one and then closed higher than the open of day two (Today).
Hope this clarifies your doubt.
an inverse head and shoulder in nifty is in the corner.
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