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 ...
9 comments:
Dear Master,
Thanks for your update.
Last week learned pivot table.
This week learned applying pivot table, preparing Pre market data and how to be patience.
Jai Ho! Jai Ho!
JAI HO...Thanks ilango sir....
not convince with this up move. Take Care.
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.
Friends,
Those of us who are trading using JNSAR, we've still not closed our shorts... today was a loss day for us...(after a series of profits days). As a follower, lets stick to our shorts... only, only for as long as NS is below JNSAR... I don't know whether we will get a JNSAR trigger on Monday or next week... but the moment we get that lets be unemotional and change to longs... I know that the time NS is close to JNSAR or fiddling with JNSAR its difficult to trade... a lot of questions too come out... For those situations, I have benefited by keeping a small trading diary where I write -what I did and the market did. Its just a log... after a couple of days or so, I get insight whether I did the right thing or not. This way, by keeping a small note on my actions... I am able to correct myself the next time, if required.
JNSAR whipsaws are awesome since they provided me with an opportunity to practice what I had learnt and strengthen my believe in my studies and my actions. I still write down what I had done... when I am correct. It acts to tell me what move has been profitable and what has not.
Trading [when done the right way] is a wonderful journey... lets make it profitable.
Namaste Ilango Sir & Blogmates,
BEARISH: Bulls came back with vengeance and closed firm above 5800 level, now they need a follow up action on Monday or else the Bears will be back. Option Table for the time being seems to have found a base around 5700 level..: Option Analysis for 14-06-2013
Dedicated Option Open Interest Blog
Duplicated at Wordpress Site
Thanks & Regards,
Sanjay Kr Jaiswal
sir I have a question,
on 12 /6 as per hourly charts a 5 wave form was complete in hour and the fall held the 80% retrace of the 5738-5792 rally. but next day we had a gap down and the rally and fall held 80% retrace of the 5683-5722. however u were able to correctly identify and change the labelling to continuation of downmove in update 3 of 12/6 and u were correctly able to identify reversal on 13/6. its remarkable like always.how were u able to distinguish b/w both days
Corrective rise of fall started.Holding 50% gains = 5751 of last rise
market can reach 5878 on last price rise behaviour.Sustaing above
developing month's Open = 6011 & Fibo 61.8% can make new high
> 6229.Sustain below if weakness,can fall to 5586
All calculations explined in chart on undermentioned link.
http://prntscr.com/1a6tw7
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