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...
97 comments:
price close above 34EMA, 30mins @ 2:00pm, Long Trigger as per the 34system !
hope i can write atleast this much sam ?? :-)
cheers
@ Shriram,
The idea is to "throw light on following a method/ system".
We have had instances, the light was thrown on "themselves".
You are doing just fine... emphasizing a study.
Dear illango,
Thanks for clarification
I have just started understanding EW and wanted to ask you a very basic question. You have labelled previous upmove from 4531 to 5630 as wave "A". What was the reason for such labelling? why could that wave not be "1"?
It may seem stupid question to you and you may have explained it earlier also but i seem to have missed the explanation for that
Regards,
Monthly Trend asserting :) :)
sir a question right now we are below Daily JNSAR but above horly JNSAR what should one do in such a case
Assert it but strongly ;-)
very grateful for ur words illango ji,
I have a doubt sir, I have read TA from John Murphy. He refers to reversal patterns like Rounding Bottoms, HnS & CnH as being formed on Mid & Long Term charts only.
In this case, we have noticed a CnH with a falling "saucer line" on the 30mins chart. Are thse patterns equally High PROBABILTY on such small T/Fs ?
What has been ur exp with them ?
urs
@Shriram Sir Cleared the things
Back again to the Basics
Shriram... mala shaljoditun maru naka...:)D
@PT
enjoyed this show much...rollover volatility at its best...sala long karo..fir thoko...fir thoko cover karo..bas ab thak gaya..hu aaj ke liye..bahut ho gaya...
Hi,
5230 can watched as its 21hr sma ?
The rise from 5190 has its "i"st wave @ 5209. Breach of it would make the upmove as a corrective bounce.
Consider this fall as "iv"th
@SAM,
Lols.....
@ Aly,
You have to start the labeling from month T/F(Time frame).
Accordingly, 6339 to 4531 is labelled as "abc-x-abc" corrective down and the current rise is seen as a larger "x" wave or "B". Hence the subwaves are labelled as "abc"..
Anil,
Me too Resting now :) very less qty ...
Sir say's run away with the money earned .. I cant run so trading light now ...
ready for 'v' move up.
Dear illango,
but wouldnot the rule of alteration require "iv"th correction to be shallow as "ii"was quite deep and retraced almost 75%?
Market rallied on good news on Pnotes and GAAR, actually its a bad news and confirmation that FII will be taxed
@ Shriram,
Ever since I embraced EW, no patterns are visible to my eyes.
You must need to take this fact that markets are evolving all the time and some patterns such as H&S have failed often.
ok thanks for the clarification above indicating previuos upmove was a corrective
NS resisted at 61.8 - 5276, as per JN table and NF at monthly value are low at 5294
@ sam: mee kay kunala marnaar,
As long as man has the right "lakshya, vrutti & kuvaat",
these other things are of no consequence, minor distractions ;-)
enjoy ur day, cheers!
@ Aly,
Never get fooled by this alternative type corrections. Those are guidelines but don't work much.
I have seen similar kinds repeating..
Trading below HHEma drags it down...
The last similarity of correction playing out.
@shriram: I won't believe this type of (trap candles) Watch same candle on 23-3-12. Now your SL also triggered as per your system.
sir,
target for this last correction ?
price closing below 34EMA, 30mins....
Bearish Trigger now within 30mins, volatility on full view !
Dhanyavad ... Shriram
Aj sab ne peth bhar ke khaya :) :)
@ prabhakar : True, SL triggered @ 5230
No system is 100% bullet-proof , and esp wen tradign intra day with 34EMA, 30mins one ahs to accept this as an operational hazard
lets hope we can evolve this system in unison with HrlyHi-Lo EMAs to give High probability set ups, tat is my sole aim !
U have any suggestions to fine tune this system, pl share ?
cheers
Sanjai Jaiswal
was following the VAL of NF march, it worked very well today, thanks
ALERT---------------------------------------
Got News from NSE Chairman... Looking at today's volatility
..... they have "DECLAIRED TODAY as EXPIRY DAY"
................:)D
Nandi Sir did say in his blog that this week will be volatile.
SAM
LOL am LOL
Tum ne Pukara aur Hum Chale aye Jaan Hatheli par le ayee re ..:)
@ Shriram,
Look for "candlestick patterns" in 2 min charts at the extreme readings and they offer some valid inputs.
@ PT
OMG monthly trend asserting strongly.....:)
I HAD POSTED THIS YESTERDAY
bring down your positional SL to 5285-90 from 5325-30 and continue
to trade downwards using any intra bounce that you may get for positional
trades...dow is +1% as of now and will help in giving green opening :)
March 26, 2012 11:26 PM
5209 Breached sir
What is the next possibility ?
rgds~Ajith
Ilangoji, 5209 spot also broken.
Just for fun
@Nakshatra
Monthly Trend is up .. but it was never very strong and thus again the week trend which is weak is asserting again. :) :)
Illango ji,
LOL... @ 2 mins on goo-fin,
after nearly every 10 mins i see a Doji or a Hammer, very confusing sir :-p
@Nakshatra
Monthly Trend is up .. but it was never very strong and thus again the week trend which is weak is asserting again. :) :)
@ Shriram,
I said...at "extreme readings". Not all the time.
Ooops i thought it is down...anyways you are here with your Hatoda till then no worries....:)
LOLZZZZ Prabhakar Ji
gap down or gap up tomorrow will clear more trends
i think. yesterday high broken but not low.
@gkm223, yesterdays high sensex has not broken.
illango ji,
noted with thanks sir
was just kidding , fun mood today :-)
Master,
please check mail at your convenience.
sam ji, some fear appearing in your words
, dont worry be happy.
Seems 4th wave going on since 5278..
"5209" broken, what next...?
It means the rise was of corrective kind only.(d wave) and another low or closer to it is on the cards.
The reversal point got further brought down to "5278".
We'll read market's internals when it gets lower to 5160-70 zone.
Today is 5th day that High -Low difference is more than 100 pts of Nifty Future..........
@gkm223..... Why fear????
I have told you some time ago...that I follow price.... so
always changing COAT with the Trend makes money pouring
in .... thats the funda.
I think you didn't understand my language ... I said that
in MZAAK.. that NSE declared as EXPIRY day....
Pls don't misinterprete..my comments... :)D
Be COOL.
thx sir
rgds~Ajith
if ns closes below 5242 then can favour bears
5310-15 lokks highly possible
@ Fire,
Very valid observation.
Previous lows @ 5268 has acted as resistances.
And it becomes a reversal point too.
"5280" almost matched "5278 high made today".
a Note by CLSa...
On the sales desk we don’t see a reason for the market to panic if
"one fundamentally is positive on India", though must admit the week
upto the 31st of March is likely to volatile more driven by F&O than
by CASH. In fact we see likely hood of cash equities being held via
p-notes being crossed to existing FIIs.
Fibbo EMAs on 30mins are all lined up in ascending order..
stacked for an UP swing ...
@Anil....
CLSA..hmmmmmmmmmm
At the time Nifty was arround 4600.... CLSA Chris WOOD came
and Said that Nifty is going below 4000 and SENSEX 11000
And then all you know what happened.
i wish i cud make a 'feel like beat up smiley' as in Blackberry messenger cozzz this market is going crazy lol
Please cross JNSAR FOR more conformation of upmove which is
started from 5171.
@Niftyfutures
ADX DI Crossovers gives good reading for default 14 on day/week/monthly
Huge OI addition in 5200 PE 9.5 LK... seems 5200 is
protected for this expiry.
@ santej
Market is doing its job.
Our mind gets crazy with it.
CONTROL CONTROL CONTROL EMOTIONS.
@ HIGHER DEGREE, 55DEMA is RESISTING
has made a monkey out of my dear 34EMA, 30mins today :-(
RBI rate cut if any, should be the right time now.
@Master,
Is it bullish harami formation?
@Sanjay Sir: Closing average of NS please
Master,
Thanks a lot for your kind words & continuous lessons.
@Nilesh,
Bullish/bearish Harami has a track record of 50:50 in Nifty, not better than tossing a coin. its better to look for other technical confirmations.
@ Nilesh,
It is an evolved bullish harami (High exceeding the previous day)
santej
http://free.clipartof.com/10-Free-Smiley-Face-With-Black-Eye.jpg
Dear Shriramji,
Hi.Where to see 5day low ema and 5 day high ema in the TT do they change interaday. Please quote today's 5dLEMA AND 5HEMA for clarity.
Regards
Suraj
I lango Sir: I have 1 minifty short @ 5290 NF Can I hold it for tomorrow Sir, Pl. Advice me Sir.
@Suraj There is HIGH EMA and LOW EMA Column in TT ... Just check it out
it seems closing is going to be above 5EMA
so chances of going till high ema quite possible and
plus Masters leading indicator has given a breakout
so tommorrow gap up
Adjusted close coming at 5243.40 Approx...
Below 5DEMA.
Thanks Master.
Thankyou Samji. It means HEMA and LEMA are 5DAY low and high ema's.Today's high ema is 5311. Am i right.
Regards
Suraj
Power of TA.
Hi suraj:
As per Master's latest updates
DHEMA @ 5311 & DLEMA is @ 5208
suggest one shud first learn to trade with simple Fibbo EMAs & classic TA first before getting
into the H-Lo system
All the best!
cheers
@DR sir
thats rite ...
Thank you Sanjay Sir
today whole day market got retraced from 80% fibonacchi sirs rule
You Got it correctly Suraj....:)
@adx, thank for the reply....
Thankyou Shriram ji.
Actualy I read the comments of Mr Parshant shah about trading nifty above and below 5day high and low ema's. I don,t find ema study very interesting. Looking for some simple method of taking position in nifty. Hence the question.
Regards
Suraj
Sanjay Sir: How to identify adjusted closing average of Nifty spot? Google is giving after 3:30. It is difficult to average manually. Any other method Sir?
"I don,t find ema study very interesting."
unquote
Or most probably It is too complex for me to understand.
Pranams Sir and Thank You
Suraj,
H-LO EMA is DATA Driven.... very very effective, its like a HIGH PERFORMANCE FERRARI,
for the newly initiated, analysis is better done with Fiboo EMA Ambassador, not as GOOD, but still simple to handle, safe & u reach the same destination ;-D
cheers
Dear Shriramji,
Got the point. Even if I can drive safely an Ambassador, it will do.
Regards
Suraj
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