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...
33 comments:
@ Natti & DR ji
Thanks for the response.
Just checked with ISP, confirmed some problem from their end.
Net speed is not even 1Mbps, whereas my connection is supposed to be 2Mbps.
Hope to set it right in another 30 mins or so
BNS - me too using Airtel broadband facing problem since yesterday. hence reduced my posts too i thought my system slow :D r u talking about BB or ODIN?
regards
5513 still not break...as this is the level of three line break chart hrly.
In hourly chart -ve Divergence is seen,
break of 5510 could show extremely short term weakness
breaking for 5500 would rally it upto 5480 now
@Ilango Sir high ema and low ema for hourly is for how many periods ...
As I want to set it for amibroker
Dear Sam, we talk of 5ema, 5hema, 5lema for hr,day.wk
and month here. It is 5.
Dear SAM,
The period is 5 only, same as Close EMA.
Thanks & Regards,
Sanjay
Gm ilango sir & friends,,
5492 -5485 gap
Uploaded the slow Hour macd chart with interesting observations.
Support was found exactly 10 points below HLEMa(5508 - 10 = 5498)
Namste Ilango sir and all,
Sir 10 and 13 Hrema has also provided support
Master- how do you apply a lagging indicator for a trade? isnt this only for confirmation after a trade is initiated?
@ RamCharan,
What do we do for those traders who would not initiate a trade even after a confirmation..?
A comprehensive approach is good.
Having resistances & supports.
ORB tool after an exhausting up/ downmove.
TT signals of sell on rises as well as buy on dips.
The chart above shows, even if one were to initiate a trade based on a slow indicator, he/she will end up a winner.
Only an "opinionated trader" refuses to see the "changes".
I have seen traders here getting excited about 50 points move but get frozen with a 300 point rise.
Hence, a study, method keeps you disciplined as well as safe.
@ RamCharan,
You could also combine the fast macd(5-10ema)and the results are even more good.
Thx sir will try that too. currently as of now i have only used 10,20 and 50 ema in 30 min charts for trade initiations.
will try this method too.
sir good moring--- can short aginest the JNSR HOURLEY 5509-5515
Ilango sir,
can i ?shot nifty here this level
thank u ,
@Ram Charan,
May I know which software you are using?
Ilango sir, i think we can expect -ve giv now with new high today or tomm??
Thanks
Sir forgive my noob question :) :(
If at all one uses 1 minute timeframe, is there any oscillator
and what settings of the oscillator would work?
I know of a forex trader who uses macd & SS on a 1 minute
chart. On probing he says, my SL is the same irrespective of timeframe.
@prashant and jilani ,
Instead of asking should i short or should i go long, its better u take a decission on your own.
Analyse yourself what the market is telling u, weather its going up or down. trade according to trend. keep in mind the support and resistance levels. dont listen to what others are doing. Just follow the tech table and charts.
@ Bizagra,
You are right about the likely -ve div developing in the next 3 to 60 hours.
Day Lead indicator would be reaching 90 today. Only one out of 10 occasions, it results in a trending move. The rest of the 9 occasions, market corrects or falls subsequently.
Hence, keep the "break-down level as well as Resistance levels" to initiate counter trades.
prabhakar: no software, only google charts.
@ bizagra
Please remember Master's words
"Why everyone wants to know where the market will be on settlement day or at the end of the day or in two months time..? Such opinionated utterances distract everyone. It does not help anyone
Let the damn market do anything it wants to do.. You do what you got to do"
LV
We observed Nifty entering 5550-5605 - the earlier selling zone.
We observed a likely 5-waves completion.
We also observed closing below HHEma gives a trading opps to sell @ HHEma+10 to 15 pts and cover near HLEma - 10 to 15 points.
So an intraday trader would have sold, covered, bought and so on..
Read above as "3 to 6 Hours".(And not 3 to 60 hours)
@Ram Charan,
Thank you. There is no fast and slow Macd settings in google charts
Bullish engulfing candle in Last hour closing!!
prabhakar: yes. have to look for those settings in other live charts.
currently i used only above EMAs mentioned to initiate trades.
Sir,
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PL. update TT
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New Post Done.
@ilango sir
wat is difference btween slow and fast macd??
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