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...
64 comments:
Good Morning Master and copy to All
================
Dear Satheesh
Pls accept my condolences to you and your family.
Good 8 lac addition in NF O.I. and surprisingly 6 lac O.I.addition in 5400 CE…
Morning Illango ji & JN family,
Pls keep eyes open for Ascending CT (abcde) in play UP from 5268
Tgt: 5520
34EMA, 30mins, trade opened LONG @ 5295 ysday, Profit was booked today morning @ 9:40AM when price closed << 21EMA, 5mins
cheers
@ Mynac,
Why the surprise..? Any conflicting data or studies..?
R/ilango sir,many-many thank's 4 explain in simple way 2 update the TA FILE. HAVE A GOOD DAY .
@shriram: If nifty moves from here,as it is above 34 Ema. You have no position now as per your system.Can we think any modification in SL? Asking for learning..
JNSAR trigered yesterday slo 5334 (JNSAR-20)
To day low 5337 10 AM C=5354 >developing D.C.ema5337
> W.C.ema 5344 buy mode continued.
hi prabhakar
gr8 Question !
I guess the wy to modify EXIT strategy wud be to do 50% part booking @ 21EMA,5mins & carry the rest 50% with SL @ FibboEMAs on HIGHER T/F... 8 / 21 EMA on 30min T/F
Check out if this makes sense.
One more line of thought:
I am a firm believer in 5-10DEMA x-over as a CONFIRMATORY signal... so if the TREND is about to Deliver a Developing 5-10DEMA x-over (it will today if we close EOD > 5358), then one shud TRANSFORM the 34EMA intra strategy to a SWING TRADE & carry Longs
Its something like wot Illango ji does linking the the 5Hr Hi-Lo EMA to the JNSAR :-)
Wot do u think, pl give me ur fdbk ??
cheers
BNF fut is facing some Resi here
or attracting bears due to Hrly OB
yesterday mentioned by sir ... In such a corrective phase better wait for a close above dhema .... For peace of mind .... We are at midpoint crisis and ns trading at a week and day inflection point . .... Better would be to go long on close above 5460 only ....
Dear Ilango,
The writers relentlessly wrote it @ lower levels to push Nifty for their comfort zone but the way buyers came up aggressively to grab it… for this hr. writers became helpless.& the way it was bought ,it indicates new top on the way for Hr. was coming soon…& it came.Generally writers used to write CE “aggressively” when, market is about to or going to get tire soon…is my understanding .in the mean while 2 lac deletion is there in 5400 CE O.I. Let us see.
Five days high EMA is imp now.
@shriram: I saved your reply in my word file. I am backest bencher. It is better to exit when bear candle should below 21 Ema (O - H - C should be below)in 5 min TF
Victorious
Five day high is av of 5 days high
or highest close of last 5 days
Trading above weekly Pivot:5374.
resistence area
Master Date not changed in 10.00 am update
first attempt in day res.
Good Morning ILango sir & everyone!
Dear Satheesh Madam!
By Sir's msg i am guessing that u lost someone close. May God bless departed soul & give strength to all her dear & near.
Rgrds,
Kumar
@ prak-che,
Yes..Price cluster resistance area: 5382-5392.
shame shame Alisha
“Shame… Shame… Alisha”
Master is very busy. He can't watch your update.
Master,
at what level 'b of B' will get invalidate ?
if its 80% then wht could be alternate counts.
Thanks,
Dear PT,
Hrly close above 5372 may show 5393-95 as a top & there after “your” res.zone..but then trading above 5375 may attract short covering…instead of shorting… Let us see.
Hi, Satheesh,
aceept my condolences for the departed loving soul who will
always be there in ur life
The toughest state of market to trade - a contracting range. But the resultant move will be sweet. Till then, it will try patience a lot.
At 11 AM, mid-point-crisis got overcome with hour OB. 14-hr. RSI is very interestingly poised.
Satheesh,
My deepest condolences for your parent. May you have all the strength and courage.
In total more than 15 lac Put's written and only 4 lac Call's written .
Satheesh showed the Fast fall possibilities. On the other hand, Fast rise possibility is seen in 12 & 26 EMA. Pick your camp.
http://www.eng.chauthiduniya.com/2011/04/mega-scam-in-coal-worth-26-lakh-crores
i am sad
company get benifited from this scam
http://www.chauthiduniya.com/data/Scam/Companies_that_benefited_from_Coal_Scam.html
yes prabhakar...
but close below 21EMA is enough, all O-H-C data below (or above for shorts)
may delay the EXIT !
as far as i calculate SAR is level where TREND can change
one can different strategies like
1. EXIT wen price hits JNSAR /10DEMA ; or
2. Look out for change in DIRECTION of 5DEMA
All this obsv is on Daily charts... not applicable intra
For intra stick to 34EMA 30mins pls
cheers
@ Traveller,
At what point "b of B" gets invalidated...?
80% @ 5447.
This is not a rule as the nature of correction is complex in "B" waves.
Thanks Master
@fire
'It must be very disheartening to let go off
someone so close and dear who ruled
your parent's place in your life.'
by ilango sir's word what i understand its not
parent
JNSAR SL for longs yet not triggered. SL is at 5334. :)
Short heavily
Tomorrow holiday..??
Illango ji,
There is another Alt EW lable , if one sees EOD candles from 27th Feb'12 as a CT
Pls see this count for Complex B:
B.a 5268 5459 191
B.b 5459 5171 -288 -150.8%
B.c 5171 5499 328 171.7%
B.d 5499 5233 -266 92.4%
B.e 5233 5561 328 100.0%
Should tgt top of the EOD Bollinger Band as pet this lable.
urs
PS,
Damn...my mistake. I just assumed. My apologies to Satheesh. But whoever rules the place of a parent must be no less than actual parents.
bulls need to defend 5345..else...
As I observe price patterns using EW approach, correction has another low below 5171 to be completed, preferably around 5154 or 5081.
Contradicting to such a view is the continuous inflow of FII's buying.
This week would "tilt it".
"5369" HHEma for 12.00Noon.
A 3 waves done from 5385.90 to 5342.60.
@anil
i think settlement(banks) closed market open.
@sir
rightly said..now even indicators placed too pointing
out,somework left undone...need to be done..before
scaling above 5600...no prominent divergene setup,
too got noticed for this rally...
@ shriram,
How could that be "CT", when 5499 exceeded earlier high of 5459 ?
sir,
yesterday 900 cr shorting approx in index futures
and cash buying by fii
@PS
i just checked at NSE site now, and from their its
seems no 'Trading' holiday..its settlement holiday...
thanks for confirmation...
Learn EW watching so many patterns developing in the 2-minute google live charts along with "candle cues" & other TA studies.
Fastest way to practice learning.
Nifty Intraday Live-2min.chart
oh!
my apologies for the misnomer illango ji,
shud call it an Ascending Expanding Triangle...
Hv fallen into habit of calling triangles as CTs, my bad :-(
@ PS,
Ohh.. I always miss reading the F&O figures.
Thank you.
hahaha..
Expanding is wrong too.. 5171-5233 says contraction of price on LTLs :-)
Just ascending triangle is fine sir ?
@PS
it is difficult to tell whether its short or
long unwinding..bcoz no of contracts reduced by 5324..
but nifty closed in positive...
my pleasure sir
From my novice's simple calculations Nifty could go to 4900-5000 levels.
What would be impact of this recent COAL SCAM?
2G scam gave too much pain for bulls....
@ Traveller
Let the names come out then real effect will be seen and by the way 2G has given musch more pain to congress than bulls.
Sir,
What is DJNSAR of Banknifty?
May be time to go LONG with SL @ 34EMA / 21EMA (5324.4 / 5332) ,
Tgt: 5520 in 1-2 days ...
New Post Done.
@anil,
not much aware of oi so cant comment on that. but
one problem that longs frm yesterday are facing
when longs were taken premium 30-32 points. now
18-20 points straightaway 10-12 points slippage.
as jnsar and other figures r in ns i really
wonder what to do in such situations
descending triangle in BNF...advise only for intra..positional call after 3.00 pm
too early to say but looks like we will retrace all of yesterdays move!
its a consolidation..i m done for the day..positional in the evening..bye guys.happy trading!
Nifty started down move, putting my stop loss at 5350
I am going for a break, no tentiion, I am in profit.
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