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...
49 comments:
Namaste ilango sir and friends,
Today's quote received :
Confidence can get you where you want to go and getting there is a daily process.
It is so much easier, when you feel good about yourself, your abilities and talents.
GM sir and everybody :)
DR-ji - "dont confuse others" hehe immediately i deleted my "comment" :D for the benefit of all :)
Ilango Sir,
I am long @ 5323NF.Please advice me SL for conservative longs.
Yesterday we closed below DHEma. Today we opened
past it but now less than that. And below H-HPivot.
I think sujatha madem comments is specific to some body and not to all. I don't know what harm will do if it exisists for the learners?
@Ilango
Would the "C" in the red label, then retrace upto 61.8% of
4720-6339 which is at 5530-5720????
@Bala I second you.
@ Indus,
This "c" wave should not be confused with the larger time frame's one.
The ST labeling is:
abc upmove: 4728-5160-5011(5038)-5400
abc correction:
a: 5400-5202(alt.5400-5207)
b: 5202-ongoing(alt.5326)
c: towards earlier resistances of 5125-5160(coincides with 20sma)
The above "c" has been discussed.
If Nifty moves past 5385, then presume that the correction has ended @ 5202 and an upmove towards 200sma & above is on.
In sum, till previous high is not cleared decisively, many corrective forms may be discussed. But for trading purposes, use Hour TA and make the trades like the Hour TA with +ve div developing yesterday resulting in a 80 points trade.
Namaste Ilango sir and all,
@ Indus - I think the redlabel refers to "a" - near yesterday's low, "b" at the reange 5326-5360 and "c" - weakness below 5285 and probably lower upto 5160 levels.
Which C are you talking about to reach 5530-5720? - I did not get your question. Please clarify!
Sir am I right?
TradeTiger(1.0.4.9) users,
Not getting Nifty and Bank Nifty index in marketwatch of TradeTiger 1.0.4.9?
Any suggestions Pl.
Sir, you have answered my question 1min before I posted my query!! :)
@ilango sir,
Timeline wise, what should be the time taken
by a correction ( abc ) to an impulse ? My understanding
is it is 61.8% by time and price ( Beckman ). Right ?
GM Everybody..
@prabakar
mine working fine...chk whether all scrips update done...
chk for update and scripmaster...done completely...
i mean if it is hanging in between it will not show some of scrips...
Hi,
I deleted my comment on my own and nobody "told me to delete" morning i posted for DR - 199% he doesn't need my level :D just shared with him.. before anybody seeing "deleted" :) nothing else.
Have a good day. Here weather is "too sleepy so that market and me too" :P
PS : At present i am not with "GREEN LABEL OR RED LABEL" will have "Tata Tea" and back after some time.
Prabakar
No problem at this end
Try
1. Change server
2. Reboot
@Satheesh
6339-4720....three waves
Rise from4728-5400 is "a"
b on currently
C I was referring to on the larger time frame of
6339-4720....and the 50%to 61.8% retrace of this time
frame to 5530-5721
Have just back tested psar on daily tf on sgx as suggested and the results are:
24/6 long nf @ 5553
20/7 short nf@ 5532 (-) 21
29/8 long nf @ 5001 (+) 532
22/9 short @ 4894 (-) 107
11/10 long @ 5064 (-) 170
So the conclusion is please put on your blinkers and just follow JNSAR,enjoy the spare time with your loved ones.
& market watch is your setting
which is saved in your computer
if anything dont help
Create new Mkt watch
still problem persist re-install software
but manually delete all files from C before reinstall
@ Indus,
I understand your 5530+ scenario.
A: 4728-5400
B: 5400- ON (already done @ 5202 or may end around 5125-60)
C: 5520+ (There is a good cluster resistances @ 5520-620)
On the other hand if 5125(OR 5085) fails to hold, deeper corrections.
@Ilango
YOu are right...we are at a crossroads right now...but
the hour TA will be helpful
Thank you for your time and inputs
Thanks Dear DR Sir and Anil,
I have rebooted the system and it is working now. Thanks again.
@Indus,
I was just referring to the Hour chart in Pre-market view. But your perspective of Larger TF was not marked in today's chart. :)
one problem with all backtests waiting till eod
(3.15) to prevent whipsaws is that when doing backtesting,paper trading, or trading with small
lots its ok. but soon on wud be trading slightly
large maybe 5-10 or more lots of nifty. from
risk management perspective. it will create lot
of mental pressure.maybe foe whipsaw saved but
sometimes hugely adverse entry might be there.
Sis
If your Tata Tea over
Plz reply this question
http://www.emailjunks.com/media/20080708-080602-2.jpg
i at times try with small qty just on hourly close above 14/21 sma, sometimes very adverse entry is there.
Good 1 lac O.I. intra short covering in NF when Nifty went
up from 5306 to 5312.
@manojag,
psar acceleration values should be 0.01/0.2. Standard
is 0.02/0.2.
2 attempts at HOD and small neg div.
manojag
When SAR was developed
the drawbacks of PSAR were worked on
and were eliminated
:D
If everyone removes his comments after posting ... then
think of a blog.
Suja Sis Pls don't take it in other way.P:)
Goodmorning Sir and everybody
Can I get 20 points if sell @5347
SAM - I too seconded .What is the necessity of deleting his/her own comment.For that need not post the comment @all or sms between the persons concerned.After all ,people coming to the blog to learn and earn to reduce the loss already blindly incurred though the broaker messages etc
Dear SAM,
You have taken that deleting very seriously :)
I am taking it like KBC Telecast.No repeat telecast :)
@Mynac Advanced Technical Analysis Course
किरण जाधव यांचा कोर्स कसा आहे? Do you know anything abt it?
mynac said...
Dear SAM,
You have taken that deleting very seriously :)
I am taking it like KBC Telecast.No repeat telecast :)
Nothing serious abt it ... Just that thought came to my mind
instantly if everyone starts doing that then??????
forum become interesting only when bulls and bears both have its presence.than only newbees learn better.
bears start smelling honey.caution
Comments are ones contribution of his/her thoughts to
blog....if any comment is specific to anybody and
does not want to be seen by anybody other than to
whom it is intended then rather its better not to
comment here ...one can mail to personal email id.
This is my view only.
Dear SAM,
Earlier on his site there was SAR or you may say "intra call"
facility software,which was free for 7-15 or something
like days... it was good :),and I too have attended his
free seminar @ Patrakar Bhavan,Navi Peth and Maratha
Chamber of Commerce,Tilak Road.He is young and studious
analyst,specifically for investors,is my understanding,
@ Sam
The course you mentioned is good only for beginners.
Most of the time is spent in advertising precision
technicals software and his advisory services. Another
course Moneyyog is the worst I have seen. All courses
are good if we don't fall prey to their subscription
services.
And for study purpose or knowledge purpose,any course is
good is my opinion.
@Mynac and Yash and Dhan
I have attended their free Intraday Trading Seminar
at Kothrud(their office) conducted by Ashish Kelkar.
I was thinking of Advanced course TA( costing 8K)...
any other better option in Pune.
New Post Done.
Dear Illango Sir,
How to handle(target,SL) conservative trade mentioned by you in the morning?
Ilango said...
"Conservative Trade" - would go Long here or at any dips upto 5290.
Dear GD - DR is the principal of this institute and Sir is the Founder - Both are doing an excellent job - JNSAR is a discipline and not trading discipline - at time maybe there will be 10 whipsaws at a stretch - however if the trades are recorded at the end of the year the result will be gains and of more than 20% of trading capital which is excellent - if a trader gets tries to avoid whipsaws by deviating from the discipline then thats his/her decision but this practice will reduce his / her gain in medium and long run - regards Deepak (by the way i am also part of the maverick group who has been trying to avoid whipsaw - but i agree to DR's and Sir's views 100% and will be more disciplined from December 2011)
good afternoon dinesh sir
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