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...
23 comments:
illango sir i had buy nifty at 5377 and book at 5410 . sir
nifty is trading 5416 can i make long again at 5424 pls advice
thanks
@RG, competing with you nowadays for commenting after the "New Post Done".
Reposting ---
@Shr,
I am not searching for alternate Harmonic patterns.We got a perfect reversal from AB=CD pattern (another harmonic pattern). Right now, it could be anything depending on the moves taken and the retracement level of the current upmove. In these patterns, the most important thing is the retracement level of B. Now we can take the move from 5556 to 5178 as XA. Then AB is going on which has retraced close to 70.7%. If, a big IF, price goes down from here, then we can see the making of a pattern, be it a Gartley or Crab or Butterfly (Bat got rejected already). Other possibilities of taking X,A,B also remain. So, it would be better not to search for any Harmonic patterns right now.
Obviously, there can be some pattern not yet visible to me. But that would be due to my lack of any in-depth knowledge. As I go on learning more, I would be most glad to share it with you.
Trend Indicator has risen vertically, I am expecitng some down side or pause. May be 5360 ???
Fire, thank you very much for the details.
what are the Gartley change patterns, from bear to bull or bull to bear
"5440" and "5456 - 73.6% retracement of 5556 to 5177 are the two resistance points when Hour TA is at Overbought level. One may book partially.
"5386" DHEma is the first support.
Sir, Jnsar reverse still at 5340 or can we reverse at 5386..for today.
@fire - you have well spotted the harmonic patterns.
a request , would u post the updated version of the fractal.
Regards
Girish
@Girish,
Sorry for the delay. I am trying to post it as soon as possible.
@ gaurav,
That would be "tinkering with JNSAR" a lot.
As some readers suggested, take 3 to more lots, either mini.20 or the big.50 Nifty and start to book profits @ 50+ or 100+ and the remaining to be allowed to "SAR".
Since JNSAR for tomorrow is below HLEma, it may hold. And once it equals DLEma, the trade success increases.
@ Fire - I am expecting "C" leg possibilities as per below -
5341.6554 5310.3500 5279.0446 5234.4742 5106.0690 5013.7446
Am i right?? But as per 'bigger view - EW zigzag method" (pre kg - ew don'tmind) expecting a "more falllllllll" upto the previous level + 5042 level if AT ALL MY EW WORKS OUT :D
TESTING
Thank you sir for clarification. Yes, I need to do jnsar trade with minimum 3 lots.
@Sujatha: Oh Bulls are now more cautious seeing your Bearish view, but your level will change once NS crosses 5450-55...and you will join the Bull side...isn't
@Dear Mynac or Anybody, plz give updates on option analysis and NF OI.
@Sujatha,
You are embarrassing this admirer of yours, that even on the Valentine's Day. :(
On a serious note, I am just riding the trend now (on the back of the elephant JNSAR. NS has retraced exactly 70.7% of the last fall from 5556. As long as no pullback or correction of this upmove takes place, I have no more information. Until then, I am indulging my lazy bones. :)
@Bizagra
Even Prabakar is missing today ....
BN is quite close to the faster retracement of the last Pivot high of 10772.(Nifty equivalent is 5556)
Master,
BN has done it. High is 10784.55
Sir,
Does it mean BN Vs.N RSI is stronger in BN? Will move much higher if N moves up and downside could be lesser than N in case of a retracement by N Down?
sir, based on that retracement in BN, can we say that nifty also reaches 5556 in no time?
Sir,
Bank Nifty was the first one to crack in January.
NEW POST DONE.
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