Camarilla Update - Nifty SpotScenario#1H3@6017 ↓*Aggressive entry needs no confirmation. Safe entry required smaller t/f confirmation or candle.Backtest Rules - 20pts SL - Partbook 1:1 - Remaining TSL using TL/MA
5DEMA= 6024 high made -6026.negative divergence in 5mins. is this 4:3:a?80% of upmove at 5981. a break below will confirm.. correct sir?
in intraday 2 min charts nifty forming an upsloping channel pattern5997 is support at lower T/Lif l it bounce again towards upper T/L then may trgt 6040-44 rangewith res at 6021cmp 6006
confluence of emas near 6008 in 5 min charts
@ Sahil ,Start believing in your observations and act on them.You'll grow...and rich too.
will nifty do a 56 pt (6026-5970=56)repeat runif yes then 5997+56=6053chhoti si aasha
Trading Explained in 2 steps by Sir.Step(1)Start believing in your observations Step(2)Act on themNet Results:You'll grow...and rich too.
Net connection too slow.... Bye All...
lower high made on mins chart ... hope it cracks down now
bearish scenario:if we draw a downsloping channel from yesterdays high and todays high then an upmoving channel within downsloping channel from a lower T/L is completed at 6026 abv 6020 will break that down sloping channelbreak below 6001cmp 6003
waiting for ns to be < 5988, then a free fall
Folks,I am referring to the following post on JNSAR method:http://tradeinniftyonly.blogspot.in/2010/09/jnsar-stop-and-reverse-trading-method.htmlpls clarify my doubt on JNSAR method. If my filter was 0.2% from 6011 JNSAR level of today, I should be long since 6011+0.2% filter which was hit will take my shorts out and put me into long JNSAR.And in that case, I should manage/reverse the trade only tomorrow unless SL of 20 pts is hit today itself on the long trade. Is it correct?I am actually short again now after being stopped once on yesterday's JNSAR short. If I read the JNSAR post again, we should be long not short. The level 6011 was crossed both ways and I took the down crossing as a signal for today.thanks
aggressive short < 5994
Dear Ilango Sir & Blogmates,OI Table Update at 1:00PM, Pivot-6033, S1-5947, R1-6080, ATP-6012, VWAP-60125900PE writers are on a song, with huge addition of more than 14 lacs for the day, and any fall towards 5900 could be a very good entry point for longs for the day…Thanks & Regards
@ ilango sir,if 1= 6105 to 6063 2 = 6063 to 6088 3 = 6088 to 5970now we are if 4th b wave 4.a =5970 to 6026what is your view on this and tell me about 4th wave guidelineswith thanks
@ JN follower - 6011+20 points filter come @ 6031 ns high 6026 how you get into long.......
JN-followerIf you had taken short yesterday at 5991 then ur SL yesterday would have been 6011 (20 points).For today your SL is todays JNSAR Plus filter of 20 points i.e., 6031 (which is not hit still).Whether to use filter or not and how much to use is your own discretion
@ ilango sir ,here 80% of (5970 to 6026) rule should be apply? ( in 4th wave)with thanks
NS hit ND Sir's ATR Sell Zone and is now trading 25 points below that zone.
Magnificant trading wisdom from 2,400 years agoWhen an archer is shooting for nothing . . . he has all his skill.If he shoots for a brass buckle . . . he is already nervous.If he shoots for a prize of gold . . . he goes blind;or sees two targets . . . he is out of his mind!His skill has not changed. But the prize . . . divides him. He cares.He thinks more of winning than of shooting . . .and the need to win drains him of power.– Chuang Tzu, 400 B.C..
@ marketrider,That is the most simple & objective observation.If a new low forms, it will complete the 5 down.Alternatively, if the low is not formed but it moves above 6026, treat the fall as a 3 wave "a" and the current upmove as "b".
@hbk and cooldent,thanks for clarifying. Yes with 20pts filter (about 0.3%) on 6011 SL will not be hit but mine was lesser than that, I am still trying to learn as this is my first JNSAR trade. I understand that the 20 pts filter is meant for 2 days from entry trigger, anyway hope to learn the ropes soon enough with this wonderful community being around.Anyway I am back again in short, just wanted to make sure I am on the right side as per the method.thanks again.
@ marketrider,80% works in most correctives except during a "flat" corrective(sideways range bound).
21-34 ema done on hour. Hold Jnsar shorts tightly
Ilango ji,If 5970/5964 breaks down can we say the next support would come at 5907/5873?Thanks,Renju.S
5965(100HSMA), 5995 (DLEMA; -30 will be 100Hsma), 5964 (23.8% daily retrace)5971-5945 earlier resistance now turned support.if markets react to these lvls again this might turnout to be a sideways market.A break of this will open levels:5937 (week dev. 5ema;5907 week5ema), 5931 DS1
if ns <5972 then 5961/41/23
I think channel is now broken convincingly. 2 pm close will confirm. Next support 5930 (S1 & support for previous rise).
@ Renju S,The last rise started from 5937(5929) and there lies 5 wk sma.23.6% retrace of 5477 to 6115 is @ 5964.Hence, a pause is likely around 5937-64.
@ ilango sir,heartly thanks,i feel i am on the right track with your help.but i could not understand "Alternatively, if the low is not formed but it moves above 6026, treat the fall as a 3 wave "a" and the current upmove as "b"."
Thanks Ilango ji.
truncated 5th seems to be over at 5976.75, the 2nd/B is on targeting 6045-65
@ marketrider ,While we look at the fall as a likely 5 waves, keep the alternative 3 waves structure also.And negate the one which gets rejected by price.In a 3 wave possibility, a=6115-6063-6088-5970.b=5970-6026-5977-XXXX.c=from XXXX
@ ilango sir,thanks for this new way
wave 1: 6115-6063 (52)wave 2: 6063-6087.90 (24)wave 3: 6087.90-5970.05 (117)wave 4: 6070.05-6026.20(56)wave 5: 6026.20-5976.75 (50)If the bounce turns out to be wave 2, then it should end lower then 6063 (1st wave)
6015(80% retrace of the fall 6025 - 5977)
New Post Done.