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 ...
15 comments:
Correction might happen for another two days... Any updates.
Its hanging man day, top in place, dont buy in market. tomorrow there will be gap down by at least 30 points
Today candle is more of a hanging man pattern. Whats your take on this.
The Trailer is complete today ----- Picture abhi baki hai mare doston ----- Sell on rallies now ! ! !
Hanging man candle needs a follow up else it becomes a pause pattern in a strong trend. Historically this candle has failed in nifty on day time frame many times
Dear blogmates..I need small help .
Can you guide me how I can get nifty 30mins candle closing values for atleast last 6 months in a excel..appreciate your time..
i am looking at correction of atleast 200 pts, then rally upto 8200
Taken in isolation sure semblance to a cross.
But needs follow up And location awkward.
On the other hand
The macd and divergence gone.
Test of support done
Buying came
More upside logical and looks to be with the flow of things
It looks like retailers are still exiting.. DII figures says so... domestic operators are only hyperactive.
Dear PT,
Welcome back, after so....so....so many days/months or (Y's?) later..
Don't know about Nifty,nevertheless due to your presence here, remember Sholay's famous dialogue.. " Hmm...Ab ayega maza,...bahut din ke bad Gabbar ko koi mila hai... jo itaniSS bat kar sake...Ab ayega maza khel ka... :)All the best..
Some self-motivational words...
One Life, One Aim.. Financial Freedom.. One Path.. Arjun Focus.
Way ahead --> Independent Honest Inquiry into True Nature of Price, Finalizing a Hi-prob, Low RISK SYSTEM & most imp.
Disciplined following of System Rules, again n again n again
Good night !
5 year long upward breakout and the origination point of the current trend happened after market broke out with a breakaway gap on 07/03/14 with gap up opening at 6414. It reached to its next point after rallying 600 points to create another runaway gap on 13/05/14 gap up opening above 7000 and now has it completed its ultimate target of another 600 points rally near 7600 by forming an exhaustion gap??
Ponder on the above only for analytical interest but for trading stick to your mechanical trading methods...Always remember traders have to make money first and your mechanical methods will ultimately provide you the right signals to act upon....All the best and happy trading!
June 8, 2014 at 5:28 PM
http://tradeinniftyonly.blogspot.in/2014/06/nifty-having-broken-out-of.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed:+blogspot/uxfD+(Just+Nifty)
In continuation to the above and subsequent price action, next immediate pattern anticipated is Island Reversal .....There is a unfilled gap at 7500 created on 6th June which can be formed by gaping down at the same point to give final shape to the pattern....
Will continue to state ponder on the above for analytical interest and trade with your mechanical methods as ultimately as your methods will signal will the same albeit with a lag resulting in good risk/reward ratio
Those interest to learn more can google and read more on Gap patterns
All the best and happy trading
Namaste Ilango Sir & Blogmates,
Bullish: After 3 days of huge up-move, the index took a breather but saw 7500PE writers claiming the top spot, decline if any will be limited...: Option Analysis for 10-06-2014
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Thanks & Regards,
Sanjay Kr Jaiswal
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