Trend assertion was visible today at the close of the day & week.
Overbought Hour too got its correctionc intraday and it would continue on rises.
Day channel resistance comes around 5100 & weekly channel resistance around 5160 (40Wk Sma) which coincides with another cluster point of 5160-70.
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...
16 comments:
@Mynac
No need to thank, we all are here to learn and share our observation,
And plz jiignesh is enough.
Hi All,
Just back. Interesting day. I see that the HH-HL trade
is still active long. Is it ? Well we had one hour where
closing price was less than HLEma and the diff was 12
points. We took a short trade the last time at 4812
and got burned ( unnecessarily ). So definitely advisable
to have not joined the short unless it was a quick trade.
As I had said in a comment, maybe we should wait for
DHEma. I am also learning as part of this. I feel that
after a huge run, why even risk it when we can play a
nice trend on other side ? So how do we make a decision
next time ? As Sir says, we should wait for a trend
change confirm ( or atleast indication ) in higher TFs.
I still feel 12pts seems to be a teaser diff. We need
a lot more data to confirm this. Sometimes I have seen
a 5pt diff acting as the trigger for a huge runup.
But as of now, let us stick to long side. HH-HL trade
has given 151 pts ( 4865-5016 ) points now.
Note to myself - 200pts a month on average is equivalent
to 100% returns for the year.
Also updated the closing price/EMAs chart for Monday - CLICK HERE
Have a nice weekend...
just 4 fun at weekend :-
Indian Election
1. Name of Candidate : _______________________
2. Present Address
(i) Name of Jail : _______________________
(ii) Cell Number : _______________________
3. Political Party : _______________________
(List ONLY the Last Five parties in
Chronological Order)
4. Nationality: [ ]
A - Italian
B - Indian
5. Reasons for leaving last party (circle one or more)
A - Defected
B - Expelled
C - Bought out
D - None of above
E - All of the above
6. Reasons for contesting elections
(circle one or more)
A - To make money
B - To escape court trial
C - To grossly misuse power
D - To serve the public
E - I have no clue
(if you choose "D,attach Certificate of Sanity
from a Recogonised Government Psychiatrist)
7. How many years of public service experience
do you possess?
A - 1-2 yrs
B - 2-6yrs
C - 6-15yrs
D - 15+yrs
8. Give details of any criminal cases pending
against you (Use as many Additional Sheets as you want)
9. How many years have you spent in Jail? [ ]
(Do not confuse with question Cool
A - 1-2 years
B - 2-6 years
C - 6-15 years
D - 15+years
10. Are you involved in any financial scams? [ ]
A - Why not
B - Of Course
C - Definitely
D - I deny it all
E - I see a foreign hand
11. What is your Annual Corruption Income? [ ]
A - 10-50 Crores
B - 50-100 Crores
C - Overflow...
(Convert all your $ earning from Hawala etc. to Rupees)
12. Do you have any developmental plans for India
in mind? [ ]
A - No
B - No
C - No
D - No
13. How many people have you killed or murdered ?[ ]
A - 50
B - 100
C - 1000
D - Lost count
14. Describe your achievements in space provided: [___]
Thumb Impresssion of candidate
(Not that of the person who filled the form)
**********************************
@ Dare
I was laughing for 10 minutes reading the last bracketed line!!!
Film personage Ajit rues, "Mona Darling, Inko sabko Reliance dilwa do. Result jeene nahi dega aur Buyback inko marne nahi dega."
Hi GD,
humble suggestion.
Y not ENTER a trade only wen these 2 conditions r met ?
1. Price closed above 5HEMA ; &
2. 5EMA -10EMA x-over is witnessed
Pls do evaluate this suggestion & give me ur valued fdbk.
cheers
BANK Nifty Weekend update : CLICK HERE
@shriram,
Totally Possible. Will check into that. I assume
you meant 5EMA and 10EMA in hourly timeframe ?
Hi GD,
U can check on On Any Time Frame.
I have checked on Daily Candles. I find that 5DEMA -10DEMA x-over filters out whiplashes created by CORRECTIVE WAVES of HIGHER DEGREE
To handle LOWER DEGREE CORRECTIVES, we can modify the SLs as:-
1. For longs, SL = DLEMA-10 pts
2. For Shorts, SL = DHEMA+10 pts
Pls note while this way the trade is more water-tight,
the Pts made (profit) is slightly less, since ENTRY is a little late.
Where to Exit:
Exit when u see a change in Curve Direction (sign of dy/dx) of the 5DEMA
urs
SMO
@shriram,
I dont agree on the exit criteria. If you want to
chat more, please find me on skype or gtalk : padysrini
@ GD,
pls do check once atleast for my satisfaction :-)
rgds
How to find Open Interest(Vol,) for Nifty, on line ?
How to find Open Interest(Vol.) for Nifty, on line?,
in Graph Form
Sir,
How to find change in PCR(OI) and PCR(Vol.)for Nifty
during Market Hours?
As per today's Scenario, the 1 st Minute wave in Up side
started from 4530 to 4803, then 2 nd Minute wave started from
in down side from 4803 to 4585, then 3 rd Minute wave
in up side started from 4585 to (Assuming)5085, because
of more than 0.75 PCR, also due to 25 th Jan. 2012 Epiry
in very near. If it happen, then 4 th Minute wave in
down side can come 4979 (as per23.6 % Fibonacci Level)
OR 4903 (38.2 Fibo.),
This is as per today's Scinario, If Scinario can chage
then, the said prediction also can change
huge addition in 5000pe and 5100pe in jan series
5100 coming for sure
any dips near 5000 will be strong buying opportunity
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