@ SJK ji:ys... brk.out > 5705tgts: T1: 5705+ 20 = 5725 ; T2: 5705+ 40 = 5745Ns
High risk trader who takes a counter trend long @ 50%-61.8%@ 5693-98(Low made 5693),the SL should be raised to 5693 now.(Break-even)
Low risk trader who takes the "with the trend" short @ 50% to 61.8%@ 5719-29, (high made @ 5720)the SL remains @ 5744.Alternatively, "with the trend trader" could wait out the 3 waves counter move to complete as "a=c" and initiate a sell @ 5737 (b-5693+a-44).
Master,just a doubt, for learning sake sir.typically while trying contra the Main trend, when do u decide, that the setup is worthwhile the effort?For eg- ysday we did get a small contra 40pts bounce @ 10:30-11:00AM. But u were stead-fast, on the guidance of MnEMA.. Alternatively today, we r trading well below MnEMA (almost close to MnLo) & today we are attempting / exploring Contra longsHow to differentiate the viability / i.e what factors are helping u focus into the decision to attempt ?Tks
Nifty is making insider bars from morning. Wait for break out/down and take the trade. Move could be good enough to trade once it moves either side.
GOOD AFTER NOON SIR AND BLOGMATES
@ shriram,Part of it from EW forms.From 5761 to 5676, a 5 sub waves could be seen with (i) being the largest, (iii) 2nd largest and (v)th consuming time.Part of it from understanding pivot's characteristics that after a steep fall below S2(yesterday), the next day holds S2 atleast for a while.
Master,Ur Observation power amazes me, as u share ur exp, its something wonderful.Hv been avoiding using Pivot /CAM till date,as it doesnt have any logic (cause -effect / science types), but this explanation gives a new insight , on how to use Pivot Data.tks sir , most grateful :-)
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Great sir.Taking cue from your revert and in order to learn the waves :So currently "b" flat going on and if it doesn't cross 5720 and 3rd begins, this will be a running correction (from 5677-xxx (below 5720))and more downfallAlternatively : the corrective to rise upto 5737 /or day high/ prev day close (to fill the gap).
Today counter trend as well gave almost 40 points. At least from 5720 to 5760 in August Futures. @ Ilango ,If market see 5770 - 5775 levels as last leg of red iv , should we use as shorting opportunity for 5th wave move till 5618 levels ?
Anandha,'today nifty gave 50 points in counter trend 5715 to 5765.On friday it gave same move from 5915 to 5965.
sir ji,what to infer when price since last 80 minutes is just moving around hr-lema.is price likely to go up or dn.price is below m-lema
Corrections need not have a=c always.Some "c" waves are truncated and end without crossing "a" wave top, especially during strong trends.
Camarilla Update : Nifty SpotScenario#3L3@5724 ↑L4@5693 ↓
Dear Ilango Sir & Blogmates,OI Table Update at 1:00PM, Pivot-5830, S1-5755, S2-5712, VWAP-5743Range bound moves after the huge sell-off, Bears seems to be taking a breather or waiting for some up-move to sell again, upside limited as huge addition at 5700CE...Thanks & Regards
Sir,Can this be a triangle correction, contracting in 5 mins chart.
dear ananda draw a trenline on daily charts from 5477 the ultimate figre comes at 5618.
respected llango sir with the reading material on the rt side of blog i m now able to atlest understand discussion between experts sir pls guide me for reading the EW pls provide some reading material which can help me or show me the way of approach towards it for understanding things better . thanks sir for everything
Please dont interact with intruders
many thanks dear sir
Dear Ilango sir,Does today's gap down can also be read as another " bearish island " gap ?Up gap between : 5682 - 5749Down gap between : 5755 to 5741Raghavendra
--> backFlag tgt T1 is done.. be careful of all rises
New Post Done.