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...
56 comments:
NS below crucial mark of 4850 and a sliding Rupee against
Dollar are bad signals for Indian economy
POWERTRADE said...
DKG
How about a triple century in few days as dow is heading for 1295
May 16, 2012 12:07 PM
@ PT,
I m loving it !!
pivot S2 4836 where nifty can take support.
only QE3-US can bring hopes, otherwise -ve to continue.
i am looking at the monthly stoch, as it is in
main the role.
Camarilla Intraday Update/Follow Up:
Let the price come to the mid point(4907) of
L3 & L4. Then we can trade. Till SOH(sit on hands).
*Note Respected Mr.Illango's Words,
"4855"-camarilla's L5 is the last hope
for bulls "for the day for intra bounces".
Dinesh ji,
i hae sent u a message kindly reply when free.
Thanks
☺
Master ilango, in ur last green bos u have mentioned
hourly 9Rsi was 80+ at close but our charts do not
show the same.
kindly guide why so ???
maninder
repled
powertrade ji now you are looking 3600, but look at
2008 fall 3rd wave nearly 1800 points correction, so
5630-1800 = 3830 , so near 3800. and so far 1st and
2nd wave are near same, time factor not counted.
//JNSAR has many failed trades BUT with proper SAR with small (20) SL & SAR, the result over a period of time has borne great results to diligent followers//
I don’t know how many followers are still holding the shorts since 5200+. If someone holds since the entry of 5200, they deserve the applause.
If someone has to benefit from JNSAR, then he should not follow-up this blog except for taking the JNSAR values. A simple reason is that there are enough distractions here and it’s very hard for anyone to skip such noises. For eg, yesterday close was above dlema and also hourly values showed reversal possibilities. Obviously, any trader who is sitting in profit won’t wait to sacrifice his profit but book out only to see the 75 points dap down.
And, pre-market view always has all the probabilities for scenario A and scenario B. It can be written in that way only as none can predict where the markets will travel. But, the trouble is one set of followers will go with scenario A and other set will wait and go with scenario B. When one scenario plays out beautifully and when Ilango asks how many has adapted it, the one set followed it would pump their chest whereas the failed followers would keep mum with a cry. This will go on and only very very few realises the strength of this space and use it appropriately and I can see all of them always remains in silent mode :)
Master,
Can I short BN at golden Ratio,Wt is TGT?
Please reply
@ Sujatha,
Every 15-20 points have been sold into for the day.
Sell at such bounces till one trade takes out the SL.
@ Nanjil,
The failed followers need to keep mum and INTROSPECT (not cry).. that is the only way to improve oneself.
BN has given the death cross Alert
How is Europe opening looking? May give a bounce if it is green.
@ nanjil
:)
Master / DR ji,
Can i short BN at this level as golden ration on??
Please reply
Now LIC will start buying :) :)
On orders of course. :) :)
Sir
Thank you very much for your caring. I never short and (never did also) OS market but yesterday took personal opinion from PT and done and holding..but expecting a "bounce" which is my intution but posting here is not good it seems i deleted my comments. My sincere apologies.
@STBSTB
its also our money:)
Anil I have never invested in an insurance policy.
Though I have been besieged by agents singing praises
of "Money back policies" :) :)
I am my own insurance and I manage my own funds :):)
You should check www.subramoney.com and do a search for
LIC.
@ Nanjil,
You talk always as though everyone here "loses". The correct way to deal was shown by "discipline focus". Ashish has erred in carrying over a "day trade to positional". He needs to correct it. "Trading mode" & "holding overnight is different".
Trading experience comes to them as they expose themselves to the market.
You have very low opinion of our readers.
And your words do not encourage anyone here.
Those who need help are getting plenty and they'll become quite independent and I have enough proof of it.
Please don't repeat them again. I have already shown my displeasure to you but you don't seem to heed.
BN
Heading for 8600 odd levels
DR Sir,
Reply me can i short BN????
@ Master
Goodafternoon.Well said !!!
Thanks for showing confidence in your Pupil.
Regards Always !!
Those who need help are getting plenty
very true sir - i confidentally did short becoz of PT only
and i never did before in OS market and thanks to mynac too :) i always miss something at last whether up or down
Prithvi
Not here
if missed the train wail next metro
Master ilango, in ur last green bos u have mentioned
hourly 9Rsi was 80+ at close but our charts do not
show the same.
kindly guide why so ??
@ parminder,
If you download the "JustNifty TA(16th May)" file from the link at the top right corner of this blog, you'll find the rsi reaching overbought zone while higher T/F rsi in downtrend.
Such set ups suggest larger weakness with shorter term overbought conditions.
May 2000 market 6.5% down
May 2002 Market 7.5% down
May 2004 Market 15.9% down
May 2006 Market 14% down
May 2008 Market 6.5% down
May 2010 Market 3.5% down
May 2012 Market already down by 5%.....
@ Ashish Agarwal,
"Fearful of selling in a oversold market" - one way to deal with it in a trending market is "sell below 80% of the last minor rise", we have used the same logic for our conservative trade today.
@PRAK173
good observation
thanks.
Sir Ji,
I am following this site for at least 4 months. Since then I could see the following changes in my self:
1) number of mistakes are getting minimized. (before visiting this site, earlier in the past 2 and half years, lost around 12 Lac in future trading.)
2) confidence level is growing.
3) more importantly, I see positive inflow of money.
6) last but not least, it is giving me a hope that one day I will become a good trader.
(Millions of thanks to Ilango-Guruji.)
I Protest Illango ji!
This is attitude of urs towards Nanjil is Talibani.
Faith should not lead us to dogmatism.
before anyone of ur chamcha rant against me remember i
have already quit this blog and i dont care.
Thank You very much.
@ Sujatha,
There is no need to "delete" your comments.
Some immature people may call some of the comments "noise" but I call them education.
Whether a comment produces money for you should not be an issue but
"whether a comment educate you to become independent".
If you are simply posting based on your hunches, your follower should know them accordingly and manage their trades.
My critic calls many market moves accurately and goes wrong at the reversal points as their call is a day or two earlier sometimes. I can not figure out a basis for them but it is the accumulated experience of being exposed to market for many years.
I want you to post your comments fearlessly...in the most natural way it comes to you.
Many have benefited by your "experience".
If failures aren't part of our actions, how will we ever become "master of ourselves".
Let us fail now & then so that we get stronger. Let us not slide down to "judge ourselves" during those trying periods. We are much much better people.
this bounce from 4836 is already more than the intraday bounces.. can it be said that it ll retrace the larger last fall from yesterday s high to today s low..
@Ashish Agarwal
Please explain that at which level to short on bounce
or which level break we should short
anywhere between 4882 (38.2%) to 4910 (61.2%)..
Master ilango,
Thanks for the clarification will study the same.
Good Afternoon everybody…
@ AU ,
Tera kaam hain bolna...bolte chalo.
Mera kaam hain Karna..mein karte rahega
Camarilla L5 @ 4855, buy triggered.
A "v"th wave as shown in the chart may have been done.
@AU,
Good bye and best of luck for your trading career.
Why are wasting you time here? You may call me spoon(chamcha),
fork or any other item found in kitchen.
Namaste beloved Master
Please keep teaching us as ever you are doing. I very well know the value of money. I follow your guidance as much as I can. That does not make me a sycophant. I donot blame you if a trade goes bad. I see extremely hostile market conditions all over the world. I sincerely express my gratitude to you. Thank you Sir again and again.
Ilango,
Net disconnected.
I read my comment again and I don’t think I have said something low about the readers here. I feel that I have expressed the fact which many traders are experiencing. I wrote about the confusion in trader’s mind to hold a jnsar sell when the prices are closing above DLEMA. Though it has been written here umpteen times that tech table trades, ew trades and jnsar trades are different still people carry their own doubts exactly after 3.15 pm. Why all those confusion?. It is because somehow from the statements either from you or from others people get carried away. That’s what my concern and I expressed it so that they do not repeat the mistakes again. My next comment to Ashish might me more clear. I agree that am the one who always talks about traders making losses. There are many or almost everyone taking about winning strategies here and at least let me the person to talk about the losses and loss making scenarios which is the part many hesitate to express. I have also written that “only very very few realises the strength of this space and use it appropriately”. Hope you understand.
New Post Done.
No amount of thanking Ilango will be enough..still i thank him fir his humaness.
Let us fail now & then so that we get stronger. Let us not slide down to "judge ourselves" during those trying periods. We are much much better people."
i have been mainly an observer and havent made use of JNSAR at all as i have never been good in shorting and by the time i picked some nuances market started sliding.. But atleast i staying away until clarity and using the time to understand how people trade here. Infact i have learned not only Ilango , from others like shriram , Mynac. I also admire Kumars' confidence
"
@AU
you are doublespeak. you say that you have left this
blog and at the same breath you post here. acting
strange you are
What a place.Despite being a place for technicals, this becomes a place of ego's.
Ilango ji hats off to you for all that you have been doing selflessly . Majority of the blogmates do get benefitted ( a minor loss here & there does not
matter. You are a true friend & a guide. Many thx.
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