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...
41 comments:
@ ITradeForProfit Daily.
Raman Kapoor said...
Dear Sir,
Is it 7641 or 7658 which will confirm that iii has started?
Thanks
June 17, 2014 at 3:15 PM
Ilango said...
@ Raman Kapoor ,
Since the fall from 7700 is of 3 waves, it would be "7780".(this is theoretical.)
June 17, 2014 at 3:24 PM
@Shriram Sir,
Could you plz check if another -WW is forming in NS targeting 7630?
@Master,
Thanks. Is it really "7780"? that far?
7568 is 61% retrace and it seems to have bounced from there :) . A conservative long with SL at 80% is active now !
Dear Ilango Sir,
JNSAR for today is 7584
In TT it is shown as tomorrows JNSAR, seems other values of JNSAR have also shifted from their resp. dates.
Kindly check.
Superb Sir!
--> back
Sonu: market has rewarded ur -WW ... good pick !
TO EW eyes m how bout C=A seeking 7450-55NS to finish a ABC ?
@ Ilango Sir - Likely supports pls!
what a iraq effect one hour every thing gone gone forever chart now become a gud gobar ??
what to do best trade is now no trade
1.00PM TT & Chart Updated.
@Shriram Sir,
I did't take this trade, since it was only on 2min chart. :(
and the target was only 10-15 points
@ Bharat Kumar,
Once a support is broken (Aggressively Holding above 7585, Conservatively Holding above 7560, uptrend continues....), the ST trend has reversed. Hence, you look for "Retraces to sell" as we have shown in TT, 7649 to 7516 being the last fall and its retrace being 7567-83-38% to 61.8%.
Only a move past 7622, 80%, the ST trend would be considered as reversal.
Cámáríllá L4 can be watched carefully.
If reached 7577 can consider both L4 & L3!
Prices are likely to close below 7529, based on Day Trend indicator chart.
That is 2 hours of struggle until then..
Phew.. koi nai, Hr TA par +WW ban raha hein.. pt 5 kahan hoga jara dekhna :-)
Time for Sappad, Bon Appetit !
Easy Trade Of the day :
Ilango said...
Current upmove started from 6489;
1st move ended at 7553, followed by a correction to 7509
3rd wave is unfolding in 5 sub-waves, the (v)th sub-wave unfolding presently after which there would be a consolidation during which 7615 may act as a support preferably.
if u have shorted @7615 NF @7625-30 a cool 100 points.....
AWESOME MASTER....
@ Ilango Sir - Thanks!
@ Bharat Kumar,
Keeping below "7598-7622", prices could head towards the day channel bottom in the coming days -7365-85.
Only when it breaks this channel, deeper corrections could be expected; this friday's close below/ above "7547, WHEma, in such a scenario will be important.
@ Ilango Sir - Thank you! This helps a lot in understanding...!
7300PE OI suddenly increased...6lac++
r we marching....to channel bottom as master said??
Sunil Minz said...
what a iraq effect one hour every thing gone gone forever chart now become a gud gobar ??
what to do best trade is now no trade
Look at the benefits of gobar.....google.....:):)
B+........:):)
Dear Ilango sir,
Nice beginnning to a long awaited "working session" on one of my favorite indicators.
seems like am the only one making losses in last few trades.....its roller coaster....phew....kicked hard
Shri, point 5 I think is lying near A=C. If this +ww trigger, then it may be huge
@Shriram Sir,
Could you give coordinates of 1-2-3-4 of the potential WW?
Chetna, do you think ABC in tisco and B done at 540 today?
dear sir week trande is change..?
@Prabhanshu,,, i am confused..this is one of the probable counts for sure
Sonu
http://prntscr.com/3tz33d
pt5 may form near 7480-85 NS .. pattern trigger IF & after 1-3-5 is conquered
@ Chetna Jethi,
Have, always, a "Line of support", breaking which you exit your longs and reverse if at overbought zone..
and
a "Line of Resistance", breaking which you exit your shorts and reverse if at oversold zone..
Look for "Retraces to sell" as we have shown in TT, 7649 to 7516 being the last fall and its retrace being 7567-83-38% to 61.8%.
Bulls now shifting camps to 7300
http://www.niftytrader.in/nifty-live-change-in-oi/
@Ilango Sir,
For learning purpose, how do you calculate probable closing below 7529?
@ Sonu,
Based on EOD updating, 12 dema was 7529, the only number to confirm the trend change aggressively. This is not a foolproof one, there are few whipsaws but in overbought zone, for the second time, it is likely to happen..
7575 is a=c
7516 7557 41
7557 7534 23
7534 xxxx if a=c, then xxxx may be at 7575
Market will @ yesterday level in positive
Market fell in last 30 mins on a flash in CNBC that Militants in Iraq have taken control of the largest oil field in Iraq. News is a fake as no international headline nor Bloomberg has this news. Also brent oil also stable. In fact 1 tank in Baiji refinery has caught fire in firing.
@Master,
Salutations... another important lesson how you use Averages and combine them with other indicators.
@Illango Sir, Is Nifty making a triangle ? Upper Slope (7700, 7676, 7663) and Lower Slope (7488, 7509). Trade seems to be contracting around 5600 range
@Bull&Bear
Thanks!!! after your comment i sorted the Nifty future at 61% rise ended day with gains thanks again for telling to be positive.
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