Retracement strategy, a must for traders.
Trading strategy that works wonders besides the supports & Resistance is " Retracement strategy ": The strategy that has wor...
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I 'll always be there for you. To make you feel that you're secured. And even if the rain is pouring hard and the sky is almost dark... -
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...
17 comments:
Jai Ho! Jai Ho!
Ilango,
I m not a EW expert...I follow your labels and then continue with JNSAR.
I have one doubt...why would you mark 6134...5683 as "iii" in 5-D chart? This hasnt completed 5 waves yet.
Kindly enlighten.
Regards
Yogi
@ Yogi
Wave A will have 5 subwaves where master labled as i, ii, iii, iv( still in progress). Generally iv will not cross the i. So we may see down side to form v.
I would like to express my sincerest gratitude to … ... Ilango Sir,
from your guidance, great kindness and patience and
I wish to say a heartfelt thank you.
Namaste Ilango Sir & Blogmates,
Neutral: Status Quo has been maintained with neither party in a mood to take big risk with FOMC lurking for the day, though a range of 5700-5900 has been established with 5800 as pivot..: Option Analysis for 19-06-2013
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Sanjay Kr Jaiswal
@Anandha
Mate, My question was about 6134...5683. This part of trend didnt do 5 wave structure.
6134...5870 sub-wave 1
5870...5972 sub-wave 2
5972...5683 sub-wave 3
But seems like Ilango labelled 6134...5683 as wave "iii". Hence, I got confused. Above should show 5 sub-waves to mark 5683 as iii.
I maybe wrong, if someone can helping me this labelling.
I 'd appreciate it.
Regards
Yogi
@ yogi
I 6229.45 5936.8 292.65
II 5936.8 6133.75 -196.95
III 6133.75 5683.10 450.65 1.54*I so far
(i) 6133.75 5869.5 264.25
(ii) 5869.5 5972.7 -103.20 -0.39*(i)
(iii) 5972.7 5683.10 289.60 1.10*(i) so far
(iv) in play could have ended at 5863.4
(v) might be in play...
that would complete III
then followed by IV and V
(iii) can subdivide also chances r open as it is not extended. ..
so it looks like this if subdivide
i 5972.7 5683.10 289.60
ii 5683.10 5863.40 -180.3 0.62*i
iii in play from 5863.4
else above labels...
@ Yogi,
may consider 2 lable sets
1. simple ZZ : 6229-5683 done
2. Bearish lable (zz or 5wave in play)thus:-
a/1 6229 5937 -292
b/2 5937 6133 196 -67.1%
c/3.i 6133 5884 -249 85.3%
c/3.ii 5884 5973 89 -35.7%
c/3.iii 5973 5683 -290 116.5%
c/3.iv 5683 5865 182 -62.8% # done ?
@Yogi
First thing, Do not mess up the wave counts of EOD charts with Hourly charts. Master shown in EOD chart as wave iii.
Hourly charts may show you sub waves, there could be more subwaves while expanding time frames.
The one which you are referring are of waves in Hourly charts.( off course these could be sub waves of daily charts).
Secondly, EW also have alternate possibilities. There could be bearish possibility lying in the charts/waves.
Hope the explanation by our mates with these points would clear your questions.
and though it looks a pit far-fetched to forecast tgts for the Bearish alt.
since C/3.iii was not Extended w.r.t C/3.i (did only 116.5%)
The chance of C/3.v doing a Wave Extension are v high
Min tgt for this extreme scenario is
c/3.v 5864 5459 -405 162.7% (of c/3.i)
And if this comes, we will prolly drop the "c" and call it a simple IMPULSIVE 3 DONE
Note: All this only if the Bearish option plays out tomo
gnite!
Thanks a ton, guys.
I m now, very, clear with EW possibilities.
Though, I dont comment throughout the day, but I dont miss any of the comments that go through daily posts.
I have really learnt a lot.
Thanks again.
Regards
Yogi
This guy, rick santelli is too good
http://www.zerohedge.com/news/2013-06-19/rick-santelli-rages-what-bernanke-so-afraid
Good morning Ilango sir and every one
Sundaram
@ JULIUS sir & RENU S
Yesterday Gold 5-Aug contract gave an excellent returns for CAM Traders. :)
Good Morning sir & friends
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