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...
89 comments:
"5278-5256" may be the "i"st wave dn of the 5th wave dn.
80% of it comes @ 5274.
Keeping below 5274, it would open dn for the iiird dn.
thanx gauresh bhai for reminding abt
BHAGAT SINGH, RAJGURU and SUKHDEV
my salutation to the patriots
may the coming generations remember them
more that actors and cricketers
@ Parminder,
5363 was the start of 3rd wave. 4th wave retraces the 3rd wave.(meaning this bounce is correcting the fall from 5363 to 5206.)
Hence, retrace for 5363 to 5206.
Thanks Master for explaining
Summa Ameen ... :)
Good Morning Master and copy to All
Wish you all Happy "Gudi Padwa" and "Ugadi".
Today Is Ist Navratri Fast
(My family will be on Fast for 9 days)
May Ma Durga Shower blessing on All
http://images.indiascanner.com/image/2012/03/navratri-wallpaper-free-download.jpg
Now EE reminds us by singing
"Fruit Hai Re" :D
As suggested yesterday, "Learn to spot the unfolding of 5s and 3s" through Nifty Intraday Live-2min.chart
I was able to spot the clear 5 waves dn from 5278 to 5256 and the subsequent 3 waves and the commencement of the 3rd wave.
Did you...?
Master you are simply great, awesome, superb :)
When you find your desired "earnings" is done for the day and you wish to keep your trading simple, take your money and run as after the opening session which obeys previous day's study, rest of the day is all "guess work".
"iiird" wave done at 5220.
ivth is on.
After the "v"th wave is done, time to go long for "Intraday" initially.
Above "5250-55" in the next few minutes would be strength.
whats the target for the vth wave?
NF turnover 44000 cr...too strong numbers...for only 1.5 hrs of trading...
@BB
Tricky ... It will Range between 5157 - 5170 .. If i am Right
@Anil
its 4000cr for NF
GM Master,
Can 5th wave be end lower than today 3rd wave bottom
5220?
sir, 3rd being 47 points, 5th should be smaller than that,if we take start of 5th at 5248, the low for the day could restrict at 5202 or above. Going long around 5202-5210 would be advisable ?
Ilango what is the upside?
NF turnover at present....3196 Cr
@bb ,
Since 3rd wave was extended , vth should be equal to wave 1 .
1 was 57 points ( 5386-5329) . But If this 5th started from 5278 then target comes to just 5221 which is less than what 3rd wave travelled ( 5206) . So am confused here ..as to how to proceed in such scenario . Sir can you pls guide .
@irfan
sorry...
posted wrongly..its total F&O turnover...
Good Morning..................
4th had not yet penetrated 1st low. downside possibility fro 5th intact.
i within 5th completed, look 5th also will sub-devide.
GM Everybody and wishing A Vert Happy Gudhi Padwa to everybody…
Dear Smita
Guideline of wave equality say that wave 5 is related to wave one
either equally or through Fib . numbers. This means with wave 3 extended
wave 5 has multiple possible. wave 5 can be 100%, 123%,
138%,150%,161% of wave 1. Also wave 5 can be 61.8% of entire wave
that is from wave 1 to wave 3. Now match this 61.8% with above
fib ratio and u will get common or very close numbers and this
will be u r eave 5 target. Also use Elliott channel for
additional support.
Thanks
Dear Ilango I was going to run away after reading your following comment.:)
“take your money and run as after the opening session which obeys previous day's study, rest of the day is all "guess work". But come with wishes on this Festive Day….
Guys just a thought
NS in 5min chart is trending in
a channel,that might give Ew guys a
better look.
good morning sir all Gems of JN
Einstien Said.
'To understand theory of relativity
you have to sit on the hot pan'.
half knowledge is always dangerous....proverb
happy gudipadawa to all
Thanks Randhir
@ bb,
It should be below 5205, yesterday's low.
Below 5205, 5180,5165,5155 are Week's S2, 200sma, MEma.
If the lows come now, it means the 4th wave is still continuing and the 5th wave will unfold later.
Hence, I suggested strength above 5250-55.
As you get to label "minute waves", errors could creep in at some point.
@Mynac,
Wish you too the same ... Me also planning the Same ... but the Waves have been really thrilling
to ride :D
iii of 5th also seemd to be sub-deviding now !!
Read it as "If the lows don't come now,"
Thanks Ilango- it helps
Illango ji,
developing HrLEMA @ 5251 @ 11:00 Am ??
Dear Mynac...
***गुढीपाडव्याच्या हार्दिक शुà¤ेच्छा***
EE done ...
bye sir and JNfamily
ns,bank index and midcap index all faced res at 200ema in
5day 5min charts in morning upmove
cmp of 200ema in ns is 5260
nifty may fall after testing of 200ema
200ema in BN is 10250
अà¤िषेक,आपल्याला सुद्धा गुढीपाडव्याच्या मनःपूर्वक शुà¤ेच्छा.
TT updated for 11.00AM.
@ Shriram,
HLEma at 11.00AM is 5248.
Dear Ilango sir,
Can we conclude iv is over at 5255 and v started as
5s ? Of the 5s i is over at 5236 ?
rgds~Ajith
Only someone who has spent hundreds of hours on EW can really really appreciate the wizardry of Master as he is displaying in the live market. Its like Tendulkar explaining, giving his reasons & thoughts behind his every shot while batting amidst the field. I have seen some great traders at work, but know none else who would even dare to do this. A totally separate class.
Master,
I can't find words to describe my appreciation properly...Please just take my heartfelt pranam...
Spammed. So reposting -
Only someone who has spent hundreds of hours on EW can really really appreciate the wizardry of Master as he is displaying in the live market. Its like Tendulkar explaining, giving his reasons & thoughts behind his every shot while batting amidst the field. I have seen some great traders at work, but know none else who would even dare to do this. A totally separate class.
Master,
I can't find words to describe my appreciation properly...Please just take my heartfelt pranam...
Thanks illango ji,
we r now for 1st time today trading above the HrLEMA!!
As i said ysday, pls check if we can COMBINE this lead indicator with Fibbo EMAs on even smaller T/fs like 5,30mins!!!!
May give us CONFIRMATORY buy/sell signals on various T/Fs, wot do u feel sir?
urs
Twice posted. Twice spammed.
looks iv of 5th is still on until it does not go above 5255.
@ oru indian,
As said earlier, it is now guess work.
2 scenarios at work:
1. "abc"(3 waves done from 5386 to 5206 and a retracing upmove is on now. Hence, strength above 5255.
2. 4th wave is still on. Negates @ 80% or 5329.
Hi,
Ilango sir wat can b tgt of the extended 4th as lows are saved?
if we trade above 5257,the bigger 4 is still on in in uptrend upto 5300-5305 to comlete c'
like a fluid flowing river, TREND changes @ EVERY INSTANT, much like LIFE
if one sees on 30mins T/F, 8EMA (currently @ 5267) has become a bugbear Resistance to Nifty.
If we close @ 12:00 above Developing HrLEMA & 8EMA, may be we can play a High probability up trade to 21/ 34EMA (currently @ 5295 / 5302) ??
Just random thoughts from a fuzzy brain :-)
@ Atul Mehrotra,
If Nifty move above 5255, it is possible to attempt day pivot-5273 & 5DEma-5290.
Only an Hour close above either 21 hr sma or 34 Hr sma would alarm the bears as a 1st danger sign.
Dear Ilango Sir & Blogmates,
OI Update at 11:00 Noon
Thanks & Regards
Thank u sir.
May I know the time frame u r referring for the above ?
rgds~Ajith
@ oru indian,
All in the day...today..may spill over to Monday a bit.
thx sir
@Ilango Sir,
Thanks for the reply.
hi sir as u said it was easy to spot 5's and 3's one more issue
as u told yest also problem is even i save the settings
for 5 min chart.then also one needs to plot technicals
of 34 and 21 period again on each refresh did u found
any other way to avoid it.
it gets irritating to keep on adding techincals on
each refresh
@ Billgates,
Once set, Book mark it. It should be okay.
Also try the link given under "Live market to watch" - Nifty spot-Live.
Looks like 4th abc done at 5262
Ilango sir..triangle forming in 4th????
@Traveller
4th will be tricky and it can turn to be and Extension also ... So sir has told ..
Can spill to Monday tooo
@ bizagra,
If it is a triangle, this current upmove should limit itself below 5278.
High probability Intra day long trade is ON,
if we close @ 12:00 above 5260 Developing 8EMA, 30mins (will also imply close above HrLEMA, DLEMA & WkLEMA) !!
Tgt: 21EMA , 34EMA : 5287 / 5297
million $$ Q is : will we close above 5260 @ 12:00 noon :-D
Alt.View:
5278 to 5220: "i"st of 5th
5220 to 5263: "ii"nd of 5th
From 5263, the "iii"rd is on..Conf. below 5240.
Sir,
As per cam
reached HL3 is done
now expecting LL3 :)
regards
ALt.View is deadly and has deep cuts..
PT
pls break 5240
Goa very expensive
That is Masters choice
deadly cut
yes sir...
infact if Nifty doesnt cross 5260-5265 by 12:00
may be in for a fast fall set up on intra-charts !
To save the settings on Google Finance:
Just login to Google account. The settings will appear whenever you open the page.
no need to edit it again.
regards,
@Cooldent,
Ayeaga 5170 ko touch karne ... Fir dekhenge waha pe :) Mere Liye Kuch Jaam le ke Ana Waha se :)
Going & gone!
@ Master
As per Google 2minute chart
MACD Divergence deep cut seems coming
Please guide further
c of C of 4th ine making now ? target 5240 +43=5283. one probability for 4th to complete.
No man's land @ 12:00 :-(
PTTTTTTTTTTTT - dishyum, dishyummm if u want deep cut then u know where "the BN will be" any idea??? ask DR-ji .. becoz all this upmove "lead leader is BN only then CNX IT index i feel" BN has still having some sort of support..IF BN - shows the way for downstairs - done - i will join with you till then i am with my "DOWNSIDE SL" tightly.. sensex + NF so far supporting the level. break will give "i am not able to imagine the fall" yeah.. heavy
@Sujatha,
BN - DR sir is the Master ...
Nifty one low please .. the will buy with SL 5157
EOD basis ...
a small +ve Div on 5 mts charts with STS
New Post Done.
My "Net" is quite slow and also breaking. "Bear" with me.
Ok , goin out for some work. C u guys @ 2:30
In the meanwhile ppl interested in STOCHASTIC MODELLING of Trades, pls google Peter Steidlmayer market profile
Basics: He says 68% of price Trades r within 1 Std Dev of the price trade of highest frequency (funda of BELL CURVE or BINOMICAL DISTRIBUTION) ...
If CMP is trading outside 1 Std Dev, look @ VOLS.
if vols r high, it means --> Market is on look out for a NEW MEAN.
if vols r low, it means --> Market, will return to within 1 Std dev of Current Mean!
Time, price & vols all roled in one : this is meant for Algorithmic or computer Trading, Lots of Wall street number crunchin maniframes r dedicated to this ...
cheers
thx Sir ::
GA master and all.
Wish you all a very happy Gudi Padwa.
Is triangle broken on downside?
Sir mail sent pls check.
Thanks
"5262" is 50DMA for the day.
Only a close above this would confirm completion of corrections and resumption of upmove.
A contracting triangle in 4th, as suggested by "bizagra".
If so the last upmove of that triangle may be on from 5225.30 now.
It should end below 5263...may be @ 5250-55 and then...for the 5th down.
All TA points down. down only.
Only above 5295-DEma, the first reversal sign(as of now)
@ Waquar,
:D Same wave length..!!
Nifty has not crossed it's 34EMA as per the Google chart
since opening today morning.
Currently the 5min 34ema is 5250
MACD is in negative and RSI also not going beyond 60-70
Master please check my mail...
Thank you for all the guidance.
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