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...
61 comments:
80% of 4728 to 5400 is done at 4863
Hi Sir & Friends...
Sir. What implications it will have in case of sub dividing wave?
as per chart you have marked iii near 4700...so without
a miningfull pullback what are the chances it will go south wards.
Thanks,
@SAM,
Since you used 80%, doesnt that mean a B wave ( which usually is 62% or 76% )
usecase is no more valid. So we should go down more ?
HELLO Dinesh Rishi sab
long bnsar instad of banknifty can i buy bniftybees whenver long trigs
thanks in advance
please advice me
regards
isthamus
Yes you may be correct GD... am also see some more
downside but looking at heavy OS little intra bounce
expecting.
@SAM,
Heavy Call writing continues from last monday, and now it is at 4800 CE and 4900CE
OI is now 283.42% and 46.52% respectively, while the premium decline is 40.55 and 26.50
so be alert with your longs incase if you any intraday.
so a mechanical Trading system like JNSAR beats every other type of system... truely..
i once again say that Ilango Guruji have created a wonderful & a powerful system with Day-JNSAR + Hour-JNSAR, that is all that you require to satiate your trading urges...
isthamus
If Bank Nifty BEEs are for long term investment
start collecting anytime
25% can be added here
and rule is see the previous peak
any fall of 500 points 25% can be added
and if long triggers load your gun :D
Yes, you can Jump the gun in case of BEEs
Understand first what it means to stay with the trend, especially those of Month & Week.
If you can not, don't simply throw away your "Hard earned money".
If you miss a "Bear rally", you'll not get poor. You can join in the bull rally, if the bear rally turns into a bull rally by following the trend.
I have hardly seen anyone commenting on "Sell on rises..here..there..".
How many sold at the break of 4910-40 last support at the open based on Pre-market view.
How many are going to wait for strength to be reflected in the TT before trading long.
If NS 4847 broken, then 4827 is where i believe the gap will be filled and expect a breather.. let's see
Ninaipathellam Nadanthuvittal Deivam Ethummillai :) Perumale Perumale
@Ilango
Could we consider this as end of the 3rd and start of
the 4th???
@ilango sir,
I am struggling with exactly what you said in the
last comment. I have the beginner attitude that
if I dont get it at THE top ( 4350+ ), I should not
trade because the market might turn around. Clearly
shows lack of experience. There is a mental block
to trading when levels break. Have to get over that.
Great comment sir again.
@Prabakar Thanks and I don't have any long positions
at all actually I was looking for bounce only to sell.
As many times Ilango sir told that when 80% is done
it confirms trend. So I was only looking for reselling OPP
Alisha BAI... are kayko ati edhar
sir,
Sir Wave C can not move more than 161.8% of Wave A
else it would be impulse wave.
we have change our earlier counting of A-B-C to impulse
due to this reason.
Regards,
Nirav
yesterday i asked a doubt . i am posting is-
there is a 2-3% premium in nifty/bank nifty bees. any
body knows what reason it cud be. is it ususlly
premium or it becomes discount too???
Dear ilango!
i have been following your 5DHEMA 5DLEMA patterns and in short from 5230(break of 5DLEMA. And still at sell on rise till it close above 5dlema. i think most your followers have done it.
we have learned many strategies from you we can be worthy if we just follow any one. hats off to you!!
Just for fun...
http://4.bp.blogspot.com/-kHrRNnneR5k/Tlat85EJH8I/AAAAAAAADME/rMdCHYnEmiQ/s320/Funny+polar+bears+desktop+Wallpaper1.jpg
Folks,
If we are going to fill the gap then the we are definitely going to reach 4820-30 levels before anything new can happen. On a weekly we just crossed W-JNSAR this week... there are very less chances of having any whipsaws in W-JNSAR [not that it does not happen]. So going short even from these levels with a SL at 5110 [next week's JNSAR] might not be a bad idea. Just my thoughts.
Japanese concept:-
"If one can do,U too can do, if none can do, U must do"
.
INDIAN concept:-
"If one can do, Let him do. If none can do, how can I do" :)
4900 put is at Rs. 95, which I bought at 10 and exited at 21.
@Gokul
can in know Where is 5dHema and 5dlema in our tt.
Pankaj Shukla
your TS 386
@ GD,
We have to change our "Uniforms" when a trend changes...change the mind set.
Just as you "Buy" during an uptrend, keep selling in a downtrend.. Selling gives returns fast as fear spreads fast.
Read the following stuff.
Trading with Discipline
Market Wisdom
@ Gokul,
I'm happy for you.
Dr,
yes I have TS 420 call option but bought at reasonably low price and
low quantity too as per my trading capital. Not exiting that now.
But I missed that 4900 put which i had 1 lakh quantity all of my trading money
still made money but not that much as i could.
1 Lakh qty:)Prabhu aap FII hai ya DII??
Ilango sir where to short sell again??
As sir suggested a close above 5065 would resume uptrend again?????
@ Pankaj Shukla
you was expecting LC, then why you exit at 21 in 4900 put?
@ilango sir,
I am confused sometimes by LEma and HEma usage. TT says
when we go below LEma, sell and hold. But I have also
seen you give calls where when we stay within 20pts
below LEma take a long. Am I interpreting this
correctly ? Because anytime we go below LEma, I think
there is a chance of an aggressive long.
Please clarify.
As per EW my trading capital worked as follows:
made 2 lakh from 17500,
then retraced from 2 lakh to 1 lakh
then went from 1 lakh to 10 lakh in just one month,
and then keep on fluctuating between 1 lakh to 10 lakh like
a triangle for 10 months, and it was real challenge to save
capital during those period
finally broken out of 10 lakh, now at 22 lakh again in just one month
looks like 3rd wave started for my trading capital...
Is the trading knowledge also follow EW? Just wondering
Sujeet said...
1 Lakh qty:)Prabhu aap FII hai ya DII??
You already said it....
Not FII not DII...... but PRABHU (who predicts and knows
everything like LC, UC )
@DKG,
bcoz i was expecting it by wednesday. when It did not come on
that day...I exited. Normally circuit occurs rarely but when they occur
they occur mostly on tuesday or wednesday before expiry week.
I generally trade in options only. But quantity is where money management comes.
When I am very confident of a trade, that even in worst case
i will have opportunity to exit, i put full money.
Other wise put only little capital so that there is next time...
Yes SAM u right:) He is PRABHU the Great Gambler.
@ GD,
I do not say buy 20 points below DLEma if the previous day had closed below DLEma.
Once Nifty closes below DHEma in uptrend, it becomes a trading range of DHEma plus 20/30 points to DLEma minus 20/30 points. It has worked quite well.
Similarly in downtrend too, once closes above DLEma, you could anticipate a trading range of DLEma minus 20/30 points to DHEma plus 20/30 points.
Remember to adjust to the rising/ falling emas.
These are guidelines and with experience and with the knowledge of diff. T/F technical strength/ weakness, you could plan your strategies.
Can I request that we do not discuss personal trades or
awesome capital gains and losses on this blog....it is
a distraction and has nothing to do with the learning
experience.....collectively, if I may request, let us
not respond to users of this blog who repeatedly post
personal trades.....acknowledging statements only leads
to a lengthy and waste of time and mindspace...thank you
@ Pankaj Shukla,
Please refrain from talking about your winnings and losses here.
Whoever else is doing too, please do not indulge in such acts here. It does not help anyone.
@ilango sir,
Thanks. "previous day closed below DLEma", then it is
not a long. AH HA !!! That is one big missing link
in my understanding. Thanks for that.
So as long as day close is below DLEma, it is sell on rises.
Even if we go above DLEma during the day ?
Mungeri lal Ke Haseen Sapne
releasing shortly
http://www.youtube.com/watch?v=UC8dsekNOwY&feature=related
sir can we expect this is A wave from the X (5400)what is invalidation of this count?
@Ilango Sir
were can we find 5DHEMA and 5LEMA? in chart or in our TT
golfdude said...
@ilango sir,
Thanks. "previous day closed below DLEma", then it is
not a long. AH HA !!! That is one big missing link
in my understanding. Thanks for that.
So as long as day close is below DLEma, it is sell on rises.
Even if we go above DLEma during the day ?
To my knowledge answer is Yes.(Even if go above DLEMA during day)
But if day close above DLEMA then it will enter in trading
range. Most important is CLOSE.(is it above DLEMA or
below DLEMA or above DHEMA or below DHEMA) Only thing
is one can manage his/her trade with 20pts SL as many times told by SIR.
Jagan said...
@Ilango Sir
were can we find 5DHEMA and 5LEMA? in chart or in our TT
In TT Daily ... High EMA and Low EMA is the same.
sir,
Sir Wave C can not move more than 161.8% of Wave A
else it would be impulse wave.
we have change our earlier counting of A-B-C to impulse
due to this reason.
Sir,
in hourly chart we can label it as 3rd wave extension of 3rd wave
Regards,
Nirav
My personal trade...
Taken shorts from Jockey
6000 - 4750 = 1250
then taken long pant
4750 - 5400 - 650
then *@*@###$$%%%
##$$%**)!!@#@!#**$
AT last my followers lost even langota and went home naked...
@ GD,
Know these sequence:
Now Nifty is trading below all the emas/ pivots etc.
1. It has to close above Hour pivot/ HLEma/ HEma & HHEma. And in that process, if it manages to close above Day pivot, that will be the first sign of strength.
2. Now it has to close above DLEma for a "Pause".
3. Once closes above DLEma, it should not go more than 20 points(filter) below DLEma for a "trading mode" to emerge.
4. Now closing between "DHEma & DLEma", it is trading time in that range.
5. If it closes above DEma, a trend reversal likely but the upward momentum comes only on a close above DHEma.
To avoid whipsaw, watch out for follow up action.
Knowing divergences help. But beware of the divergences in "3rd waves" as they are traps.(It happened with BN in the current 3rd wave)
Ilango sir thanks for these imp points, but plz tell at which point sud we initiate a conservative trade??
Thanks
Earlier difference between Nifty and FTSE 100 indices was
300-350 points. Now it is more than 500 points. Problem
is in India or in Europe??
Thanks SAM
rk,
When we hit the weekly "Oversold", you could then say the "A" wave is done.
Most often biggest gains are made in downtrends after the "Lead indicator"(Stochastics) has reached below 20 (Most refer it as oversold & start bottom fishing).
OR
Biggest gains are made in uptrends after the "Lead indicator"(Stochastics) has reached above 80 (Most refer it as overbought & start selling).
Look at the percentage of gains below 20 and above 80, they are more than 60 to 70% of the total trending move.
@ Bizagra,
What you are asking me is.... "I refuse to learn., please fill in my answer papers"..
Do you still find it difficult to make your trading plan after all these years.
Conservative trade: As the name suggests, you wait for confirmed reversal signals.
Please answer this question...based on your experience:
What do you consider as reversal signals..? Name a few:
I am unable to see the TT .Can any body tell me what are the day pivot ,DHEMA and DLEMA pls.
Ilango sir does closing above day pivot mean pivot of yesterday or current day.
New Post Done.
Close above DHEMA or Below DLEMA. Lead Indicator moving up then reversing and then breaking 80 and moving down and triggering 20.
@ilango sir,
Your comment to me: PRICELESS. Thank you. Thank you.
Biggest volume of the day in NF at 12.11 261900 at 4849
look like v th end in 5 min
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