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...
65 comments:
OH, OH, kumar sirrrrrrrrr - y so early, let's see last week's low pls :Pscary to see "both the fires" :D elders should give "something to juniors" na?? tks n advance
For Intra day Traders,
Now @ 12.20 PM,8 lac O.I. addition is there bet.4880-4850
Ilango sir what is the confirmation point of fast fall setup between 20ma and 5ma.
@ Illango Sir / Blog mates,
a = 4843 - 4902 = 59
b = 4902 - 4852= 50
c = 4852 - may be 4902 or 4926 by around 15.15 hrs.
comments requested.
This fall could be a correction to the rise from 4639.61.8% is 4815.
Dear Sujatha!
You may be correct again as you have extra ordinary qualities. But my system saying if it closes below 4800 then we may revisit 4640-50 so i am betting on4800 more this time. It looks last fall to me & now bulls-bears will fight again between 5100-5200. If 4800 gone then i will sit again on side, till then i am hedged long or you can say cautious Bull:)
@Kumarji,
Just started watching the market. Can't write anything to add value. Just this, 113% is a very interesting ratio at work nowadays. This fall can be divided in 2 parts (5099-4939 and 4986-4844), where the first fall is 113% of the last. The last time it happened when the fall 5400-4639 retraced exactly 113% of the previous rally 4728-5400. Don't know yet if it helps.
At 4825, equality.
Break of 4845 .. and more 4813 .... clean chit for bulls
to get some rest .. plzzz help me kumar sir
5min NF - trading within a channel.
Upsides only on channel breakout!!
Click Here
ORB again breaks on downside
@Master: Is the cat really dead to bounce?
Kumar - thanks for your views :) GOD placed me in the good company of great noble souls. Now "fire" is the "villain"?? :D actually what i feel is "if this achieved" then some upmove is possible immediately. It's killing my patience :P It's just stone throw away distance as i am finding sensex is struggling. ofcourse "will obey to the price" :) or else it will kick me out
PT - yeah, v need kumar/fire sirs help :)
Nanjil,
How do you handle this kind of JNSAR trade like today, from JNSAR number today it gaped down 60-70 , should we wait for next trade or still we can initiate trade.
For news-junkies --
Moody's Downgrades Three French Banks - http://www.cnbc.com/id/45609098?utm_source=twitterfeed&utm_medium=twitter
Just for fun...
http://www.greekshares.com/uploaded/files/stock_market_crash.jpg
http://1.bp.blogspot.com/_kIWY2DV0KnE/SPAW0NJ62nI/AAAAAAAABhw/OFtsdauTXC0/s400/Bull+1.jpg
Kumar Sir/ Fire Sir: please help nifty find some bottom..
I have taken naked longs @4850-70.
My ultimate SL is 4800 (spot) but if this happens then I
will return to my village to raise cows or bulls infact &
make them stand in front of NSE building :)
Good Lord ... show some mercy. Help me change my profile picture.
@Anil: Where are you..?
@ Fire,
the reciprocal ratio of 88.6% is 113%. This combination works out pretty powerful. This is the ratio used to spot the Shark Patterns.
Huge positive divergence in 5-min. chart with OS hour. Some intra longs here with SL below 4810?
@Prabhat
Hi.. i m in no posiiotn right now,covered all shorts
here,will take some time to go long,although +ve div
in 5 min is a compelling one,and 4833-36 is nearby,so
good supports here...
lets see...
satheesh - now wat is the position of Island reversal pattern?? bearish or again upmove?? tks n advance
PCR is decreasing daily, It stands 1.1 (as of now). SMR is being pushed up to 27.08.
@Golfdude, if it is C (as has been said by Sir also),
where does it bottom out (at 100 ie 5815, or 162%?)
kindly help with your knowledge
thanks in advance
Dear Prabhat!
This market dont listen prayers, it knows only money power. If bulls have enough money to defend their position then they will defend 4800 anyhow, even close must be above 4850...lets see final match from 2.30:)
Dear PT,
I have slightly different, illogical logic for the same. “For Today” as Sellers are caught on the wrong foot ,i.e.in the morning Biggest intra Volume trade around it’s day low,.& it was absorbed easily and then went up,due to intra oversold condition so,they frustratingly tried to break morning low ,to show ..that trend is down.:)only the timing was wrong:)@ 12.30 PM? In the mean time there is again big volume tread @ 4846,when it went down… Do not want to challenge the trend but its just intra observation… as per my as usual observation,that whenever Nifty breaks JNSR in convincing manner then it used to go at least 100 points down from it… & today it has archived it’s that first target is my understanding…no doubt unless and until it is trading below JNSR & DLEMA one must carry position…
@ilango, DRji, sam, cooldent, sujatha, fire, mynac and
kumar sir, prabhat and fellow boarders
Sir now have been following Hr.Jnsar, Day.Jnsar rigrously for
3 months and ...what a worthwhile journey it has been
.though there were whipsaws in between ...sometimes as
big 150 points (Friday 7th October)...but mostly staying
with it has been thoroughly rewarding and convincing...
getting rich slowly and quietly.
things i learned ..might be helpful for novices-
1)HAVE PATIENCE.....PATIENCE AND MORE PATIENCE.
2)DON'T BE FOOLED BY EXPERTS, NEWS , MACRO DEVELOPMENTS AND GET
BIASED AS WE ARE SHORT TERM TRADERS AND PRICES..ONLY
PRICES DICTATE TRADING.
3) SHUT UR MIND UP FROM USELESS TALKS.....DAY DREAMS...
IF FOLOWING A SYSEM FOLLOW IT RIGROUSLY
4)AN INDICATOR, SYSTEM ETC CAN ONLY LEAD YOU....EXECUTION
MONEY MANAGEMENT ARE YOUR DOMAIN....DONT FAIL IN DOING SO
AND THE SYSTEM WON'T FAIL YOU.
5) IF LOST AN OPPURTUNITY...WAIT WAIT...WAIT TILL NEXT
SETUP EMERGES.....SOMETIME HAVE WAITED 4 DAYS FOR NEXT ONE
6) TRENDING MARKETS (CAN BE READ VOLATILE) ARE BEST TO MAKE MONEY
7)NEVER CHASE LOSESS BY DOUBLING UP, OVERTRADING....NO
MATTER HOW BIG THE LOSS IS...KEEP POSITION SIZE SAME AND
"TRADE WHEN YOU HAVE TO NOT WHEN YOU WANT TO"
8)AND ULTIMATELY...IF YOU DONT HAVE 100% KNOWLEDGE ABOUT
ANY SYSTEM, SET-UP...ETC DON'T FIDDLE WITH IT...GO WITH WHAT YOU KNOW
AND PRICES.
i will also like to thank ilango for valuable contribution helping in
part booking, reselling and unbiased views always. Sir when
you are ill or unavailable are actually the toughest time
in trading as there is no update of TT table :)
wishing you health and long life (as without a experienced coach
no novice can turn a pro in any feat of human endeavour)
Mynac ... Thanks a lot ... Your observation rocks day before yesterday read your comments in the evening post and from there we are 200 pts down ... Thanks again .....
@Sujatha,
If any upmove comes, the 'villain'(s) should be Kumarji, Anil ans Satheesh' Shark. As long as Golden Ratio remains intact, they may turn it into a Sehwag-innings. I am just a simple observer.
But you may be happy to think about the increasing diff. between 5 & 50 SMA or other combinations in the Daily TF. As long as that cloud remains, bulls run the risk of not ichimoku but hara-kiri. :)
@ sujatha,
The Gap is not yet covered fully. The channel breakout of NS as of the 1.00 Pm closing comes to 4890 -95. So as far as my observation only if NS surpasses today's high @ 4901 - some more upsides are possible.
no doubt unless and until it is trading below
JNSR & DLEMA one must carry SHORTposition…
@Sujatha,
I must add another powerful name to your villain-list - Mynac. Prabhat is the cheer-guy here... :P
final assault from bulls still pending though they are
weak now, trying to gather strength.
For those who haven't got much to do, here's
some interesting stats about Wal-mart (junk-mart,
cos they pretty much sell only junk chinese
products)
"Walmart has something else in common with certain nations: astronomical income inequality. In fact, if Walmart were a country, it’d exhibit the largest gap between rich and poor, with CEO Michael Duke earning more in an hour than a sales rep earns in a year. Forget pepper spray. Shoppers should fight with their money--by taking it elsewhere."
You can read more at
http://www.fastcompany.com/1798711/infographic-of-the-day-walmart-dwarfs-entire-industries-and-nations
@parimal - If this were C, then we wont know until
1 of C and 2 of C gets complete. If we assume 1 of C
is over at 4840, then 2 of C should retrace back
to 4969-5000 range atleast. A was 15 days. B
was exactly 9 days ( .618 in time and price ). Now
C should be atleast 0.618*A and usually C=A. Targets
for C can be 4640 or 4360. 4075 is 1.38*A.
Now if we consider ilango sir's alt B count, then we could
just be in B.b now. But timeline wise it seems
to be pushing it because if B.a was 9 days, B.b should
be atleast 5 days. Which means the ABC timeline gets
messed up. But the alt scenario is good for bulls.
Dear FIRE!
Why i am lonely villain? If i go thru ur blue count then upside missed by 50-100 points then downside also may miss by 50-100 points. You gave it for medium term & i am sketching it for short term:)
Dear discipline focus,
Very True… all the best
Thanks Dear GD for your kind clarification
regards
@Fire Sir: Thank god you mentioned Cheer "guy". Else I was
thinking of wearing a mini skirt. :)
The more time nifty takes to gain support in the earlier
gap up zone, then more confident I feel about its rize
to 5000-50 levels during next week.
@parimal,
One other option is we are still in w4 of fall from 5400 to 4640. Timeline wise
this might make sense too, because 15 days for w1-w3,
and w4 can be 15 days of which we have done 9. And so
we could be doing a triangle. 4640-5099, 5099-4815 ( 61.8 ),
4815-4990, 4990-4881, 4881-4948. Just another alternate.
Then we start w5 down.
EW experts ( ilango, fire ) can give more ideas.
Dear PT,
Aren't you still happy with 100 Pts.Fall ? :)Yesterday Nifty close is 4943.65 :)Let it go up now …at least for the remaining day …
Dear Sateesh!
Nifty is attempting to break your downward channel:)
Are we doing a flat between 4840 and 4900. We did a
in the morning, b completing now, and c back at eod
or monday to 4900-20. And then w5 of this impulse down ?
@Sujatha Ma'm: I told you that whenever I open my mouth
& cry, God listens to me. You better get out of your shorts
before I start to weep now :)
Nifty tried a couple of times to break down the Kumo
on an hourly chart but could not.
Master,
WHY my comments only goes to spam? This time I complain to you. :(
Mynac ... Am a happy man got 180 pts ...
@Kumarji,
I gave you company, you were not alone. You formed too powerful a cartel.
@Prabhat,
LOL... thanks for taking the jokes in right spirit.
Thanks Golfdude again,
4815 remains intact so far,
i guess, Nifty should consolidate before making w5 down
@ Sujatha ji
Sent report pls check.
Thanks
Nnumber Game
@Mynac: Another huge volume trade of ~1.25L happened @4867
NOw hoping that this acts as support.
Kumar Sir
Channel breakup
your trading strategy stands vindicated
@gd,
This fall still looks corrective to me. Not like C at all.
Add to that Weekly Stochastics triggering buy today.
bulls had revital but they need more , and rest to get its
full affect
Good one booked again 2nd time longs made.
And not to forget the Monthly Stoch. too.
@Fire,
Maybe w4 triangle between 4640-5099 forming ? I assume too early to say.
Dear Prabhat,
Yes now there are volumes between 4865 -4890 .At present 4878-4890 & 4901 in the morning there are good volume trades..
New Post Done.
Close above DLEma needed for bulls. I still
think this is a sell on rises till 4942 ( D-5Ema ).
@Mynac: I want NF to sustain 4915 for good closure today.
But it is getting resisted @4915. Bad for bulls.
@Kumar Sir: "Dear Prabhat! This market dont listen prayers,"
Kumar Sir, God listens to me whenever I open my mouth. :)
big resistance at 4965 -80 levels today.
good recovery !!!!!
mkt can surprise.....close in green !!!!!!! watchout ,
could be repaet of sehwag's innings...!!!!!
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