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 ... -
Trading strategy that works wonders besides the supports & Resistance is " Retracement strategy ": The strategy that has wor... -
If the steady FIIs inflow reflects in the prices, 5405 should be protected going ahead and market may encounter minor corrections and keep m...
79 comments:
@ Shri Ram & @ Ding a Dong,
Let me look at my databases...will follow up during the day on this request.
Raghavendra
@ Ding a Dong:
The maths suggests , that X-over of MAs does not have 1:1 co-relation with Trend reversal.
Trend Reversal needs 3 things:
1. OTM OI Addition to extinguish the TREND
2. Prev. RES / and or TL / Fibbo Exten. RES zone
3. hiFreQ osicll vibration
Simple Low-FreQ Filter (MA) x-over is not 100% as a signal
Fibo.table is updated tentatively.
Weakness would be below Day's low "aggressively".
shriram can please co relate the points to present numbers for a better understanding of points.
thanks in advance.
Good Morning Sir & Blog-mates,
Magic Numbers for trading don’t exist, but a trader who can follow the trend using relevant numbers can do Magic.
Camarilla Keylevels - Nifty Spot
H4@6081 ↑
H3@6062 ↓
L3@6025 ↑
L4@6006 ↓
By watching Camarilla levels, You will start to Notice the Market in a new perspective. It is not a Holy Grail, But a Map.
Scenario#2
H4@6081 ↑
H3@6062 ↓
Backtest Rules - 20pts SL - Partbook 1:1 - Remaining TSL using TL/MA
@ Ding a Dong:
Currently observing LT
1. OTM CE OI build up @ 1600 strike hints @ conc. writing
2. Mnth TA TL RES from 1720 top now in 1595-97 spot
3. St. MnHiEMA @ 1585
4. On Day TA the oscillator is hinting that price is OB
Put 2-2 together , we get a Hi-prob SHORT SET UP in L&T , SL: EOD basis close > 1595
Lets c, rgds
respected sie u labeled r1 as 6068 and market made hg of 6070 ad returned three times from that level is there anything to learn from is the market showing resistance ad will go down for today
@ Raghavendra:
Am querying about the situation after the REVERSAL from 4531 & 4770... when did +Ve X-over happen on Day TA between DayJNSAR & 10DEMA ??
Did market reverse in 2 days after the Bull x-over ?
Suprabhatam Master Ilango and all JN friends,
This is my first post on the blog. I am following the blog for past few days and intend to take JNSAR trades whenever it gets triggered.
respected sir sorry for typing error of sie insted of sir
a small contracting triangle pattern developing in ns 2 min charts in
6055-6065 range
break may give 20 pt either side
cmp 6060ns
@ Shri Ram & Ding a DOng
Here you go...could nt resist to post it early.
J10SAR data : From 19th Dec to 22nd Dec 2011
Date J10SAR
19-Dec-11 4,772
20-Dec-11 4,730
21-Dec-11 4,723
22-Dec-11 4,725
JNSAR data : From 19th Dec to 22nd Dec 2011
Date JNSAR
19-Dec-11 4,833
20-Dec-11 4,795
21-Dec-11 4,766
22-Dec-11 4,721
Nifty made a low on 20th December @ 4531 and JNSAR cross over to J10SAR on downside happened on 22nd December ( +2 days with the limits ).
Observation on Nifty low @ 4770 in May 2012 and confirmation on J10SAR to JNSAR cross on downside happened on June 6th (Actual low on June 4th @ 4770). You can check the blogs archive.
Raghavendra
+ ww in 2 min intra chart tgt 6095 approx
@ Shri Ram,
I couldn't fully understand the questions.
What is Bull Cross over you are referring to ?
Raghavendra
Thank you shriram.
@ Raghavendra:
Bull x-over : when day JNSAR > 10DEMA
Bear x-over : when day JNSAR < 10DEMA
@ Jitendra Mishra,
Since market did more than R3 yesterday, for today @ R1, the day trader could attempt "selling". The trade's efficiency should get confirmed with a break of day's low soon enough. If not, the trade could go wrong in which case the SL should get tightened.
6053.75 cmp of nifty
which is 55ema in 2 min charts
may expect some bounce again
vksoni said...
+ ww in 2 min intra chart tgt 6095 approx
cant see it
plz help
@ Shri Ram,
I generally relate it to intermediate wave on EW labelling by Ilango sir.
Bull cross over observed @ 4531 (Dec 2011) , 4789 (May 2012), 4770 (June 2012), 5216 (Sep 2012) , 5623 (Nov 2012) .
Bear cross over observed @ 5449 ( Aug 2012 ), 5815 ( Oct 2012 ) , 6041 ( Jan 2013) etc.
Will add more by end of day.
Raghavendra
@ Raghavendra:
Specifically, can u tell the dates when, Day JNSAR came up from below and closed > 10DEMA , on these 2 occassions:
1. after making low of 4531 ?
2. after making low of 4770 ?
Did market again FALL within 2 days of these dates?
@ s4s
pt 1 6049
pt2 6070
pt 3 6053
pt 4 6067
Orb broken on the Downside
respected llango sir thank you for guiding me on the path of learning sir
pt 5 may be 6046 done
Namasthe ilango sir and friends,
Today's quote received :
Sometimes We Need To be.
Hurt- In Order To Grow
Fail- In Order To Know
Lose- In Order To Gain
SOme Lessons Are Learned Best Through Pain
ORB broken downside ,may be 'v' clear in morning
with u parminder
Watch this :
http://www.youtube.com/watch?v=8oWHYFhd2QU
Namste Ilango Sir and all,
Bullish bat pattern in the making. Crossing decisively above 6112 - it would be relabled as an ABCD pattern in Month charts.
CLICK HERE Nifty Month chart
CLICK HERE NIFTY WEEK CHART
@vksoni
that pattern is contracting triangle
now possibility of a +ww developing
6049-6070-6045(done)-----6058-6040-6070 pending
Dear Ilango Sir & Blogmates,
OI Table Update at 11:00AM, Pivot-6031, S1-6005, R1-6077, ATP-6060, VWAP-6060
6000PE writers are on a roll, but will they be able to sustain till EOD, some addition seen at 6000 and above CE levels. Base building on around 5900 Level…
Thanks & Regards
thanks s4s
6058 (pt4) of +Ww also done
probably now ns may trade in tight range for some time be4 making a lower low near 6040ns
cmp 6051ns
P=Positive
A=Attitude
I=In
N=Negative situations
defination of PAIN
Hourly trendline broken from the lows of 5500
today correction looks like a falling wedge
Master, sent a mail, please check at your convenient time.
Parimal
FW or RW?
Breaking of 6033 fast fall
6038ns
a lower low also done but came faster than expected
now may move towards 6065-70 range again
a negative crossover of 21hrsma and 34hrsma is about to occur
Dinesh Rishi
it is FW in 5mnts chart
Camarilla Update : Nifty Spot
H3[SELL]@6062 reached profit booking level@6042
and remaining TSL to breakeven & maintain.
Good Afternoon master & dear friends :
NF profile values : (http://marketpulse-snp.blogspot.in/)
Day:
VAH: 6049 POC : 6028 VAl : 6007
Weekly VAH : 6023.
Now NF below PDH 6057, and below PDC 6050.5
Now daily POC and weekly VAH is the next support.
Hi julius how are you !!1
6070 top form now downside. who is with me SL 6113.
Sriramji,
Namaskar ani Dhanyawad. LT cha analysis ekdam baro bar ahe. me warcha bhavat short kela ahe SL as you have mentioned.
today also ns may trade in 78pts intraday
considering if lows made at 6034 then 6034=78=6112 may be trgt
if high is made at 6070 then 6070-78=5992 may be trgt
@ Shri Ram,
- - - - - - - - - - - -
Specifically, can u tell the dates when, Day JNSAR came up from below and closed > 10DEMA , on these 2 occassions:
1. after making low of 4531 ?
2. after making low of 4770 ?
- - - - - - - - - - - -
Its the other way round. Day JNSAR closed below J10SAR to identify the bull cross over.
Dec 20th Nifty made a low @ 4531 and J10SAR was 4730 and Day JNSAR was 4795.
On Dec 22nd JNSAR was 4721 while J10SAR was 4725 . This identifies that "low" is made.
Similarly :
on June 4th Nifty made a low @4770 and J10SAR was 4907 and Day JNSAR was 4934.
On June 6th JNSAR was 4914 while J10SAR was 4917. This identifies that "low" is made.
Post this occurence...there was not a bear cross over ( JNSAR going above J10SAR in an uptrend) til June 18th level of 5055.
Raghavendra
in last 2 days largest correction had been of 40 points
nifty had done 36 this time
@Chetas,
fine & you? nice to see u again with profile.
now@POC.
Camarilla Update : Nifty Spot
L3 Reached. Price Action Should be Watched.
@ Raghavendra:
Ok, very good. So, as per obsv. 10DEMA is a faster MA than Day JNSAR.
If so, if the 10DEMA gave a Bull -xover wrt DayJNSAR on 6th June'12, did market REVERSE DOWN after 2 days i.e 8th June'12??
@Julius,
Very good, nice to be back after a break.
bounced from WVAH/ POC
in downside 6011-01 levels .
@Master,
80% 6025 protected so far , can we make re entry to buy here , or wait for any support area ?
or sell on rise would be new signal?
6040 is confluence of 21ema and 55ema in 5 min charts
may give res to nifty upmove
abv it bulls will gain strength
@master & seniors of JN
I went long with 2 lots at 5860 based on DJNSAR.
Booked 1 lot at 6050 today.
Present DJNSAR is @ 5945
how to manage the trade?
105 points profit is there on 1 lot.
White metal on MCX for July delivery focuses to again gain a past movement on domestic market, today MCX silver open bit positive at 44882 it last close is Rs 44861.
commodity tips
intraday commodity tips
105 points gap btw DJNSAR and LTP NF
how to make this blog to get auto refresh?
Ding A Dong,
If you are using Chrome, Search for "ChromeReload extension".
@Ding A Dong
Partial booking, re-entry is a great thing for any mechanical system.
I will tackle the question in two parts with my limited knwldg and experience.
1) Partial booking- Once a JN.SAR trade moves in your favor, you can either book at any arbitrary gain of 50/100/200 points, which you decide or you can book at places where you find resistance/support in uptrending/downtrending market respectively, depending on your Technical skills or inidcators you follow
2)Re-entry- this is the tricky part, it depends on your knowledge of technicals, whether you are novice or a pro and can adequately figure out the least risk entries. In any case master continuously updates us about his views and that too for 'aggressive' and 'cautious' entries. which helps. If you are a pro, you can use your own skills
If you are a novice, you can just book 1 lot and carry other lot till JNSAR is breached, hence making profits, being safe and riding the trend
In the end master can tell you better, and he has continiously guided on booking/re-entries on day-to-day basis
regards
Discipline
Discipline
@master & seniors of JN
I went long with 2 lots at 5860 based on DJNSAR.
Booked 1 lot at 6050 today.
Present DJNSAR is @ 5945
how to manage the trade?
115 point difference between DJNSAR & LTP
--> back
Beautiful Bull Flag on NS 30mins, holding days low, shud tgt 6080-6.1K NS in next 6-8 30min bars
@Discipline
thanks for help.
presently flowing "book 1 lot and carry other lot till JNSAR is breached"
@ Shri Ram,
- - - - - - - - - - - - - - - - - - - -
Ok, very good. So, as per obsv. 10DEMA is a faster MA than Day JNSAR.
If so, if the 10DEMA gave a Bull -xover wrt DayJNSAR on 6th June'12, did market REVERSE DOWN after 2 days i.e 8th June'12??
- - - - - - - - - - - - - - - - - - - -
Yes, Indeed J10SAR is indeed the faster MA wrt to JNSAR. Typically, during a trend reversal...when evern JNSAR goes above or below J10SAR...JNSAR stalls..for 2 to 3 days at the same level.. This allows the J10SAR to lead the trend.
June 8th J10SAR was at 4964, while JNSAR was at 4908. Hence the JNSAR lag.
As i mentioned above, there was no Bear cross over till June 18th....Market moved up from June 6th till June 17th and then stalled. This allowed JNSAR to upside cross over on J10SAR.
Other way to look thru is JNSAR helps us to minimze the losses ( Stop loss adjustments depending on trend ).
Raghavendra
S4S, Shriram,
Around 500 pnts triangle to be broken on BN... around 1.30 pm ... at 12600 .. .so either 13100 or 12100 by next week...
Do you see that triangle ?
Rgds.
Navnit
@ Raghavendra:
10DEMA has a lag of 4 days (n-1/2), wrt Day Candle close price.
What is the corresp. lag of DayJNSAR wrt Day Candle Close ?
Only, then ur obsv, can be vetted
Close price MAs r for trailing .. not meant for Reversals , is the pt trying to be driven.
use SAR for trail not for Entry trigger
master request for an update II
@shriram
you said SAR for trail not for Entry trigger
so please look in to my query for some answers
thanks
Sir update please
Dear Ilango Sir & Blogmates,
OI Table Update at 1:00PM, Pivot-6031, S1-6005, R1-6077, ATP-6052, VWAP-6052
Though the 6000PE writers covered a few from the morning, but still has the edge with OI at 5900 above 72.5 lacs, staying above 6023 NF is postive…
Thanks & Regards
@ Raghavendra
Would you say that this in itself can be a good, mechanical positional trading system?
Have you tested this for BankNifty also where we have JNSAR & J10SAR available?
New Post Done.
@ Ding a Dong:
Tell me the "FILTER TRANSFER FUNCTION" / eq. for "k" of JNSAR , and i can asnwer ur query .
From a DSP perspective:
In general, MAs r Low-freQ pass Filters, then should be used to TRAIL TREND (which is a slowly oscillating signal)
NEW TREND emerges after a period of HiFreQ Noise / whipsaws, which we commonly call CONSOLIDATION (EW terminology is 3wave ABC)
ENTRY --> Hi-prob ENTRY is best when based on Osicll OB/ OS , higher T/f Res -support (TL / fibbo)& OTM OI behaviour !
Wow looks the data below:-
Advances - 627 Declines - 622
can ns c 6080+
@kiran
Thanks for support. its working for me.
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