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...
41 comments:
I dont understand why mr. Shukla's case is taken so severely. If u cant welcome critics in your life, you cant expect to grow. Its a bad thing on his part that he doesnt give logical explanation, which could benefit many traders here.
4400 here am coming. If it holds, we may see the santa rally as a cause of short covering upto 4750. If sustains above 5000, 5200 is also possible (next series :P )(may i suggest this as D wave) only to give rise to a great fall upto 3800
Thank U very much Rajagopal sir.
Gold will shine or Dull That is enough Sir.
Idonot intrest in crude.
Regards,
@ Vishal Nadar,
WAVE A = 5700 - 4720 = 980 - 23 Days
WAVE B = 4720 - 5382 = 662 - 41 Days
WAVE C = 5382 - 4639 = 743 - 18 Days
WAVE D = 4639 - 5099 = 460 - 9 Days
WAVE E = 5099 - ? = ? - 9 Days So far ?
The above ABCD is contracting in appearance and current Wave E so far has given down side 568 points and it implies it is giving expanding tendency and by seeing the time similarity between A AND C one may assume the present E may terminate any time since D as consumed around 9 days and with valuable guidance of Illango Sir, it is safe to assume
that we are just a step away from reversal of trend and market may touch maximum to the lower level of 4360 level and to confirm this,RSI and other technical indicators analysis is required which Illango sir is clearing everyday.
To the best of my knowledge above pattern is called NeoWave DIAMETRIC and once trend reversal takes place the market may not go beyond 4730 level ( may be 4840 /4930 level) and this part of up movement is called WAVE F and once that is achieved market will correct by 1000 points in a span of 9 to 14 trading sessions.
Okay, the above may be logically correct, but whether it will give me the desired result.
Well, this is where the following comes into pictures.
1. Trade Set up
2. Management of the Trade entered.
Wait for your trade set up and once it is there grab it with both the hands and proper management of the trade pocket your profit and QUIT THE TERMINAL BEFORE
YOU BECOME GREEDY.
I shared what I understand and in the process my trade plan for tomorrow is getting evolved.
Vishal Avl., always try to do Gymnastic exercise with guidance of master. We are blessed with a Guru who is selflessly serving the trading community. I suggest you always listen to him and understand what he says. Now and then other students of class will do mischief and some student will help you. Be discrete in choosing the model student so that you will be successful. The noises made without logic one should not be given importance. Those making noises are really serious about helping others, they will surely share it openly or at least through their Blog. One such noble soul is is Satheesh. Of course, it is you who has to take cake call.
All the Best and Happy Trading.
.....Cake call read as Take Call in my posting
Dear Ilango,
If possible, then you are requested to upload TA file please.
Thanks in anticipation.
Test
sir can any one tell me how to get 13 & 34 min avg in yahoo finance chart
DOW uncle 250+
if they have Santa Claus,
V 2 have Santa Banta
The bottom will be formed in January/March.
Hope full of a pullback as DOW is up. Need to wait
till tomorrow morning.
Dear Jayaraman
very nice of you
love and regards
Jayaraman
please guide me what book to read or software to use
for NeoWave.
at present i am reading Elliott Wave by Beckman.
thanks in advance
Sir the TT table has data only till 21st April 2011.
Best Rgds
Smita
@Sai
You can use this URL for NIFTY http://ichart.finance.yahoo.com/z?s=^nsei&t=1d&l=on&z=l&q=c&p=e13,e34,e55,m200&a=r14,ss&c=
also you can change the various types of Ema periods in the URL
Dear Smita,
yes it's up to 21st Apr.I am sure Dear Ilango will do
the needful when he will return.
@Parimal
I am reading Mastering Elliot wave by Gleen Neely. To read this book take time and whatever you are reading correlate it to the market. Visit their website Neowave.com and read their question of the
week archives and apply it to the given circumstances. To get proper understanding it may take couple of years.But it is worth the effort.
All the Best and Happy Trading.
@Parimal,
If you have e book of Beckman, will you please mail me to my mail id. Thanks in advance. Mastering Elliot Wave one can down load from 4shared.com
Thank madhav sir
Thanks , we are blessed people , in the company of Ilango sir.
@ Sethu
Wave iii (a) may be 4614 -4531 = 83
Wave iii (b) may be 4531 -4572 = 41 (50% Retrmt)
Global cue is right now positive for which our market
may react by retracing 50% to 62%.
Wave iv (c) may be 4572 -4438 = 134 (162% of a)
I hope this fits into logic.
....read as
Wave iii (c) 4572 - 4438 ..
ilango sir JustNifty TA(21st Dec) file showing old data
Namaste Ilango Sir & Blogmates,
Bring back the bulls to bring some sanity in the market; Option Analysis for 20-12-2011
Duplicated at Wordpress Site
Thanks & Regards
@Sanjay Jaiswal,
Thank you for your posting. At the time of trend termination your data helps for confirmation.
Thanks once again.
All the Best and happy Trading.
21st Dec-JustNifty TA file - the right one will be available in a minute.
Thanks for the right one...
Jayaraman good write up. Thx.
We are not artists or performers that we need people to critically evaluate our performance.
We are traders.
And the best way a trader would perform is to "mind his own business".
As long as the sharing here is objective, it helps. But the moment "attention grabbing antics come", the innocent readers get trampled upon ...may be unwittingly.
If a trader gets annoyed with "one gap up" here and "one gap down" there and lives in fear forever, he/ she will never be able to apply his/ her observations.
When I said that holding above 4556, it could attempt 4656, it was based on an EW possibility and it was intended for "intraday only". When you follow waves, you start to raise your SAR or SL as the waves start to unfold. Accordingly, it was raised to "4565" and then to "4590".
As for EOD TA...it is down and continue to hold your shorts...which were created few days ago...managed with part booking/ re-entering, the last re-entry being in the region of 4630-60.
I’ve had failures in trading life, business, in relationships, in life and I’ve been stumbling toward my best life. Failure is an essential ingredient for a higher achievement. Fail faster, achieve sooner. You can’t win without leaving your safety zone and taking some calculated risks. To me, the only failure is the failure to try to dream and dare. The real risk lies in riskless living. You can’t win a game that you don’t even play.
And I have been playing for many many years. And its about time to go into some "silent mode".
Sir,
That was an emotional post.
RESPECT
thankx lot ilango sir...dr amol...
@Sometimes and sometimes bear,
Your most welcome. Remember Wave G will be a failure if it Grinds and not vertical.(Fast Fall )
welcome Ilango Sir & Blogmates,
free blog for trading in nifty options only daily analysis updates
http://niftyoptionstrades.blogspot.com
"To me, the only failure
is the failure to try to
dream and dare. "..............hats off to you sir.
@ Illango Sir,
Beauty.
..................................................................
And the best way a trader would perform is to "mind his own business".
As long as the sharing here is objective, it helps. But the moment "attention grabbing antics come", the innocent readers get trampled upon ...may be unwittingly.
.............................................................
Here is a Man who has concern for every participants of this Blog.
My dear bloggers, stop all slip shot predictions and let us jointly take this Blog to higher level with logical reasoning. I feel if a person post anything without logical reasoning, he is a murderer who murders innocent traders life for the sake of their ULTRA EGO. You choose between murderer or savior. Please go one step at a time as
far as possible and avoid fear psychosis in to the traders mind.
I operate on the premise that I am right and my fellow bloggers are also right. Are you not Right?. Be honest to your self when you post a target
which has no relevance beyond a week ( Maxxxxxxiimum ............) . If you are not in a position to do that please ..........please listen to Illango Sir and allow us to survive.
@jayaraman amin
bullish view
4295 is 50%retracement of entire upmove from 2008 low to 2010 high
defty has retraced 61.8% of the whole upmove
many days back gold has probably completed extended 5th wave and is targeted toward 1300$
few days back dollar has probably completed its extended 5th wave
rsi and stochastics are making higher bottom with every lower bottom of nifty
everybody looks and talks bearish
what more is needed to start a flash rally
weak hearted and safe players may dabble in options
calloption risk is worth taking is my gutfeeling
@Gaurav,
Thanks
All the Best and Wish you Happy Trading.
@ Blog mates,
If NIFTY opens and goes beyond 4600 within few minutes of market opening it is safe to assume that market bottom is already achieved. Otherwise 4450 is likely target in a day or two and there after Santa Rally will start and in my opinion incidentally, the Santa Rally for Dow and S&P also likely to start only after Thursday after making a little correction, which will test the 19th Dec.2011 low.
Thanks and Good Night with the hope that I listened to the market music notes correctly.
Dear Ilango Sir,
We all are your dedicated followers. There are always some mischievous child in a family. We let them do what they want to do by ignoring them. But the Head never looses his control. Your are head of this family, we need your constant support and guidance.
Thanks & Regards
100% I AGREE WITH ILANGO Sir , it is a great teaching again
Dear Sir, It was quite an impressive writing from you about Life and I have always liked the way you blend trading with life's philosophies. I never follow a critic, I listen and ignore more like an entertainment. And, also not encourage 'em. They add up more fuel to keep their show going on. Let us completely be blind to such "attention grabing antics" loL :D
@Jayaraman: It was quite an explanation from you, though I find it difficult understanding the waves (under learning process ;) . my levels were based on mostly trendlines and linear regression and adrews pitchfork. I am a newbie and have been learning since long from Ilango sir and many senior traders here.
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