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 ...
21 comments:
Dear All,
ATR breakdown today : Intra day target at 5515 - 5520.
Not sure if we will achieve it as the breakdown happened after 2 PM.
Raghavendra
Ilango ji,
Can we say a 5th wave is in progress from 5860 in 30 min chart?
Thanks
Renju.s
Crorepathi and SBSB
Will checkout that blog, though I like simplicity.
But I don't understand what's "vedic tech" about Kedarnath (you mean temple construction?)
@ Renju S,
It resembles a vth wave from the fall of 5863 and has entered the pause zone of "5548-83".
However, one needs to be cautious of "sub-dividing waves which can trap traders". Hence, any attempt to play counter trend moves should be restricted to "intraday only".
@ Renju S,,
You could also monitor the retrace of last fall from 5624 to 5566.
5595-5602-50%-61.8%; 5612 being the 80%.
This is one of the best trailing method.
INDIA VIX 21.25 up by 11.66 %
Now the patience required will be tested.
Ilango ji,
Thanks...simply loving it...both the approach and how to look at various price action possibilities.
Thanks
Renju.s
sir,
this kind of fall may create"+ve div" on daily chart??? i feel 5585 will protect on EOD basis
@DR Sir,
Pls come and save the bulls.
Sujatha Madam,
RSI Positive divergence on 9 day and 14 day is already present based on 20th and 21st Price actions too.
Raghavendra
much more downside. need more 100 points.
crude + nifty - equally moving ??? :) almost including today's low slight difference
3.00PM TT & Chart Updated.
raghavendra - tks
nilesh ji - mm..very tough if 5585 not protected on EOD basis. still nifty-bears romance is strong :P when the relationship will break?? :) count the fibonnaci week
Sujatha madam,
Also add the 89 Week EMA at 5575-5585.
Price bounced from this EMA in April (Weekly closing basis of 5522)
Raghavendra
Yes AJ.
reliance closing at highest point of the day..nifty hitting its support zone..might be the end of short term pain..no trade today..complete failure..
good afternoon, sir!the quote you mentioned by jesse livermore haunted me like anything today...
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