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 ... -
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... -
Trading strategy that works wonders besides the supports & Resistance is " Retracement strategy ": The strategy that has wor...
36 comments:
@ biza and PT : sorry i can't give any comment becoz i don't hv time to give follow up. today here coz of BHAVAN, she was asking when i will get down from 'long" but unfortunately she is not here today. onceagain very sorry.
December 22, 2010 2:14 PM
Reposting - door closed @ part II. :)
Sir - sorry for reposting - me and piyush (little arguing)
@ Piyush - don't ignore the power of certain impt candles, several times i briefed here, taken it lightly. again example - 5943 is 29.11.10 breakout candle hence told mkt will move up if it holds. now 6030 is massive red candle high of 18th nov. it has to taken out or atleast 6007 should hold, but it was struggling there @ 6007 clear indication of downmove now watch 5979 if it taken out clear 5954/5925. close below this 5925 (EOD CLOSE) will bring down 100 pnts atleast.
December 22, 2010 2:11 PM
@ sujatha mam are u still Holding Shorts as we have already made low of 5961 near to ur 5954
so, this was the reason for that 6000 call open interest
@ kalyani - closed partially
Ilango sir, sud i reenter longs here??
now strength only above 5973, confirmed by move above 5984
Sir,
the rising diagonal, which has bearish implications, discussed with u in the morning,
will broken on the downside below 5960, should we hold shorts then?
be ready for 2.45 villain
booked shorts
no positions
"SS"
suj,
it is just difference of methods i was watching
6001 because that level was supporting break of 6001
did this to the market. 6007 was not important today
as per trading as i observed what prices were showing .
why i say this is all the candles have broken 6007
it was almost at the center. so how to trade with
that no.
Can we Enter Longs in Nifty @ 5952 SL on Spot
@sujatha and Prashant.
could we go long above 5987?
No piyush - 6007 is important. that is a simple method. if yesterday high is protecting means upmove is possible the same like yesterday low protected while falling means again upmove possible. Example - u see now itself, if yesterday's low breakes decesively then more fall on cards, or else protected it will move up again or EOD close will be here only. watch and post again.
prices were maintaining below 6007 for hours.
it was dificult to trade with a no if prices center
around it suj. that is what i was trying to explain.
Long for 6060 one day hold.(just like that).
when the day started 6001 was protected. so it is just
easier to keep that no in mind. as it unfolded it offered
support many times
@ Raja Sir yt it means?
R U targetting 6060 tomorrow?
piyush - mm. very true everybody got their "own style of trading" :) for me mingling is easy to remember. u believe it or not i don't follow anything(like OI, indicators, rsi etc.,etc.,) except the "price". this is easy for me. no "itching" .
in my opinion...for the day holding of 6021 was important for upmove to continue...but it could not hold that level...but for short term trend 5960 is important..if today nifty close above this level then bull hold the upper hand...else bear...
Hi Musti -Not targetting. Will ride as far as possible - banking on CNXIT (on 24.12.)
suj,
for me 6007 wud be imp if it gapped up and
maintained above it creating a gap. once gap is
filled , high loses significance. now the unfilled gap
of day before yesterday (low) has supported
Dear ISPAT watchers - it is in FNO ban. Will it propel stock higher? It is happening today.
@ SS
Can you please share what is your trading system after the market hours?
Regards,
Veer
@ piyush - mm u r toooooooo technical. my brain can't match with that. :D
@ RG - mm.. late-a vanthalum correct time -ku varingalakkum :)
NS is struggling to close above low EMA 5987. Sir, if it closes below to this can we have a short position open?
no suj,
u have one of the biggest brains at jn. i
told u earlier is u r phd. learing technical is
1st stage, applying is 2nd . u r in 2nd.
rg sir u 2.3 helped bears
orignal phd
Hello Ilango Sir! I have been a fan of yours for quite a while now after going through your excellent tutorials and your advices and above all you humble nature to share such wealthy thoughts in such simple manner. Also, thankful to many others who put up gr8 support with their views. RG sir, PT, Sujatha...& all. I would like very much to learn from you people your experiences. Have lost a lot on basis of speculation.
"The learned teacher makes you enjoy learning;
On leaving, makes you to keep thinking of his teaching" - குறள்
Suja Amma adhisayama seekkaram vandhadhu neengathaan. I am at school when the first bell rang. Is my Long dress Ok now? do u c 6060?
"Spanish Prime Minister says in its Parliament Speech today that EU will carry out new round of stress tests on banks"
What ever it is. Wed 2.30 splashed its red paint. When Thu 2.30 gives a green coat, the wall will look grey?
Nifty broke the 6010 & 5990 resistence today. Also 6000 CE OI does not seem to decrease. Since FII have gone to hibernate, its a void created in the mkt. My guess is that it will drift with no direction between 5930 & 6010 till expiry.
Any mkt experts who can comment in the best option strategy to employ at such times... please educate me.
Daily close has been alternating to close above/ below DHEma indicating the indecisive nature of this upmove.
Mechanical system keeps you safer but rewards are lesser during such range bound time.
Aggressive trades based on well calculated levels would give you better returns during such "Ranging period".
Once having made a plan, go through it with discipline. Such habits alone can make you a better trader.
Bye Sir. Bye Friends. Thank you my net card.
I would like to be enlightened on options too......I dont really understand them. Anyways with the current option data....i second @Prabhat. I feel there is no OI change in those cause they are waiting for the time-value decay of the option pricing.
Bye friends.
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