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...
54 comments:
http://www.trending123.com/patterns/Hanging-Man-Short-term-Stock-Chart-Pattern.html
"Hanging man Pattern" may be developing in the Day Chart for the day - depends on the close.
Such a pattern happened one day prior to the "5944 top".
@Ilango sir,
Morning when NS hourly closed below HHema, you have given "closing below HHEma gives a trading opps to sell @ HHEma+10 to 15 pts and cover near HLEma - 10 to 15 points".
Now @2pm NS closed above HHema.
What is instruction/comment now?
Chandra
@ Chandra,
Mechanical system and manual observations get incorporated here.
Besides after closing above HHEma, it is not sustaining above the same.
Look at the context, situation - in overbought situation, use the tool that would be of good use.
@Ilango sir,
Thanks & understood.
chandra
@ Chandra,
I will add this too:
TT could be read by each individual depending on the T/F of their choice.
Day is still in uptrend.
Hour too as per last hour TA.
A bull would look for re-entry opps.
A Bear would look for new entry opps.
Open and High not same it cannot be hanging man
I dont think nothing much will happen today.
@Ilango sir,
I read contents of link provided by you for hanging man. I understood that to-morrow's open levelmay play vital role?. And to-day's close too.
Am I correct?
Chandra
@ VijiKrishnan,
The upper shadow should be very small or non-existant.
Besides, never look for perfection in patterns, waves and so on.
Markets are dynamic, evolving. Just look for the "Principle of weakness" here.
@vijikrishnan
its a perfect hanging man developing...
The condition for hanging man is upper shadow should
be short one, and the same case here today..
More pronounced nature of hanging man can b ascertained,
when there is a huge rally, or rather current move if
a large one compare to previous move...
Yes.. Chandra,
What we are doing here is to be prepared for the likely moves, market may take. As the prices confirm or reject these possibilities, we do the same and carry on with the current trend.
Hour OB TA, some -ve div; Day Lead indicator reaching 90+ - is an area to be having both the views - Bull/ Bear.
We may be making the round of the rounding top in
hourly chart, half-done!
Thanks you sir understood
...............itz a BANG HEAD DAY................
@nifty. agreed
50 DMA will be roughly 5531...
Yesterdaythro' JN group id, I sent NS levels based on weekly. To-days alrady sent based on monthly just valid till 3oth June only.
Chandra
@Ilango Sir what is the setting for DAY Lead Indicator (Stochastics I think?) ?
Broker's earning day!
The hanging man disappeared. It is getting interesting.
@ Sam,
Daily Fast stochastics: 5,3,3
Daily slow stochastics: 14,3,3
These are lead indicators.
= = = = = = = =
Prices are attempting to move above the open-5548.85.
Ilango,
Itz has been a very long time since you posted
almost 30+% of the posts. Of the 20 posts thus
far, 6 of them belongs to you.
I hope you continue to post more often.
@ Ilango Sir,
as per your update in above chart where will be wave B end.
Inverse Head & Shoulder in 5 min chart
Dear Friends,
Today is Sir's Day Out.
Thanks & Regards,
Sanjay
(Today I also posted a few)
@ Nilesh,
It is either in the region of 5570-5605 or around 5660-5700.
Above 5700, it may be a different set up.
Dear Sir and Friends,
5500CE is up by 4 lacs, down 4 lacs from last post
5600CE is up by 3.5 Lacs down 1 lacs
5400PE not giving any space up by 8.5 lacs
5500PE which did not add much is now up by 9.9 lacs
Thanks & Regards
Sanjay
Thank u Ilango sir
Now for a small body for the hanging man, the close should be 125 to 18 points from the open of 5548.85 which is 5536 to 5530 so that the lower shadow could be twice the size of the body.
Ilango Sir,
This is what a beginner like me was missing in the near past. Thanks for your time. True from Heart.
Ilango Sir,
At the middle of the month, the pain was with the Bulls for this expiry, I believe it has changed now. Your Critic's view will be helpful.
Read as 12 to 18 points (And not 125 to 18 points)
Today is very boring day
@ Prabhakar,
Critic's view: Of late, the F&O segment is seeing more "cycles". Option writers aren't anymore happy with one or two rounds of profits but many.
Monday's low is critical.
Sanjay's OI points to 5500 base building atleast for tomorrow opening session.
Sir,
Expecting your comments @ appropriate time...everyday...
Nifty spot close may be around 5544 but still 7 more min to go...........
Chandra
@ Prabhakar,
I have never felt bored in a market. It is always challenging... trying to figure it out.
Keep your expectations out., then you'll love most markets.
For excitement, there is always evening-out/ Night-out..
Dear Friends,
Adjusted close could be above 5544
Thanks & Regards
Sanjay
Close will be below 5545
chandra
Hi Ilango,
I have been tracking the JNSAR system for a few weeks now. One clarification please, regarding JNSAR ...
Today's JNSAR level as per the tech table is 5352. In the table, where the trades are recorded, you have mentioned that JNSAR for today is 5400.
1. Assuming Nifty Spot went below 5400 and did not reach 5352 today ... would we have gone short at 5400. If yes, would we then reverse our trade and go long at 5420 (20 point stop loss)
2. Assuming Nifty Spot went below 5400 and continued to go below 5352 today and then went above 5372 (20 points above 5352), would we reverse our shorts at 5372 or wait till 5420.
Thanks and regards,
Amit
Bye Sir and all
Sir, why Monday's low and not today's low is critical?
Because of Inv H&S?
Bye Sir and All.
thank u sir, bye friends
@ Ilango Sir,
Thank you for a wonderful training session today.
Yash
ok...understood now. I forgot abt the 1st bar of
yesterday which was a mamoth one.
sir is it still hanging man?
@ Hops,
I have taken the liberty of increasing the JNSAR to 5400 to protect profits. Yes, if it had gone below 5400, the 20 point filter applies.
But if it had gone below 5372 and you take that as your JNSAR, then you should keep 5392 as SAR & not 5420.
@ Debdeep,
Monday's low, why??
Despite weak global cues as well as "Bad Fuel price hike", Nifty found 5434 as a support to launch a near 150 point rise. Hence, 5434 is critical to this upmove.
Above 5434, 5471(Week Close ema) is also important.
@ Chetan,
The Real Body can be black or white, although a black candlestick is preferable.
Nifty has a "Black body" as Closing is below the Open.
Now a follow up "Price weakness" by way of a lower close is required.(Intra high is permissible)
thank you very much, sir.
Thank you Sir....Well understood now.
Thank you Sir!
Warm regards,
Amit
Dear Sir,
Now spot nifty is far above from JNSAR, so should i wait for nifty to come near JNSAR level and then initiate a position OR i can enter at current levels also. If yes, what should be the levels to enter a position.
Please also post an article for understanding Tech table.
Thanks.
Jitendra
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