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...
77 comments:
Premium Gayab.
midcap index and bank nifty are below 10am lows
nifty may follow
if someone trades intraday with ns levels today
wud be very challengeing. closer to 5010-16 premium
is 10 points. if long sl is triggered premium reduces
drastically this gives more than budgeted loss
midcap index days low
IT index bearish crossover of emas
PS,
today is NOT a day for intra trades....
Look @ price cycles on goo fin 5 mins around 34SMA.
Classic CYCLIC phase... only SHORT STRADDLERS win :-)
Anybody ,
I m long in BN at 9460 any idea to hold it for
tommorrow as today BN fall -1.7% & Nifty only 0.3%?
Sir// DR-ji - got BN clue for short term :) :)
OK..bye for the day.
@shriram
today is not for intraday trades this is known at 2.20
pm only when time is close to end :-)
an intraday trader will trade his setup
whenever it arrives
@mynac,
OI addition in 4900PE is 20 lakh and even 5000PE has added 3 lakhs at this time. Your thoughts on this.
contd..
to clarify the pt.. on days wen price starts making sinusoids on the 5mins chart around a Longer / Smoother SMA, we classify MODE as CYCLIC
IN TRENDS --> EMA will REACT first (based on the exponent in the transfer function formula)
Simple idea: Keep 2 windows open in goo fin
1. choose EMAs & monitor on 30mins T/f
2. choose SMAs & monitor on 5mins T/f
keep looking @ both, one can see the MODE on the 5mins chart & take ACTION on the 30mins chart :-)
Try it & tell me if useful :-)
The market has just been trapping the dip buyers
bank nifty days low
@prakashbkc
only Sir can guide.
if he told banknifty completed 5s with positive divergence wait for price to 5EMA and hold with 50-60 point SL. better ask master.
@ Bizagra,
Your observation of "iv" making a flat is highly commendable observation.
You're growing.
Such input helped to reverse the longs @ 4990.
Break 9340 just in BN
shriram ji,
hello;how do u decide NOT a day for intra trades
Camarilla Intraday Update/Follow Up:
Now Levels@Scenario 3
L3@4963 (BUY Above)
L4@4925 (SELL Below)
*NS is falling from 5013.20
BUY above L3 ONLY if Made
New HL in Lower TF. Risky
Traders can take their Own
decisions.
For all our Camarilla Trade SL is 20pts(JNSAR filter).
Cam Trade triggered?
I booked Loss in BN.
CAM L3 triggered??
@ anmpatel,
The 5 completion got negated on a break below 4990 for Nifty. Similar thing happened with BN. As I do not follow BN & ST waves are sometimes challenging, individual should trade with Tsl especially in counter trend trades till EOD prices confirm a reversal.
Master,
SL for intraday short ?
@Mr.prakashbkc,
I am Sorry about your CAM trade SLed in BNF.
Any number will give good return if we follow
continuously!
RESP ILANGO SIR falling wedge in nifty hour chart?
@Mr.Tushar Thete,
Yes. for Aggressive Trader.
No for Low Risk trader who will enter
only after confirmation of HL.
Thx master.
@master
no problem sir!!! though i covered i made good profit. just guide when to sell on rise like today. you are simply great. if nifty close below 4990 then can we create new short? thanks.
hi suresh,
have obsv that High possiblity of CYCLIC phases intra-day occur wen :-
1. Prices osciallate in SINE WAVES around 34EMA, 5mins
2. There is 1 pt, which PS indirectly makes, unless we get one FULL SINE WAVE... we cant say for sure its CYCLIC. So ehar I try to use 34EMA on 30mins on nother window
Mix & match & watch the fun :-)
cheers
ns 4960;gone now can v c 4940/25
** small correction
its 34 "S" MA on 5mins to monitor sine waves
Funda is Corrective waves will form SYMMETRICAL +ve & -ve Sinusoidal half cycles around a MEAN (which is the SMA , smoothest of all MAs)
v sorry for typo :-)
Now metals have started melting
shriram ji,
thanks; i also follow 34 ema on 30 mts-tf
i combine 34 ema on 30 mts tf
with GANN angles method
4951 saved!!! seems fibo player in now???
OI pplease
Nice suresh,
Pls do read up work of JOHN EHLERS "rocket science for traders"
or Perry Kaufman's KAMA filter
Will help to gr8 improve understanding of the MODES of markets (CYCLES & TRENDS)
and one can understand which LP Filter works well , when & where ...
1. SMAs to idnetify CYCLES & stay away ; and
2. EMAs to catch TRENDS & jump in !
there is a lot more though on signal proc. theory, one will need a good 2 months to read thru the whole book, like preparing for a SEMESTER exam :-)
Looks like W3 down has completed at 4955 ( provided it holds))
Chart: http://img135.imageshack.us/img135/8633/niftymay9.png
huge addition in O.I in 4900pe abv 21lkhs today
*NF levels
any BN experts: what is happening with BN? I have never witnessed such wild swings even on news days. Is there any bottom in place or does it continue to plummet & break 9000 levels too..?
DR Sir? Kaha ho aap? Kumar Sir? Sujatha ma'm..
Only the Intraplayers are squaring .. llooks like ... more to cometomorrow
if ns does not break below 4925 then tomm 5030 may be seen as per WW pattern
Dev 5DEMA will change direction only on EOD close > 5050
Time to short Again :)
@sir
reverse above 4990? thanks.
Julius
Missed it or did u get in?
Camarilla Intraday Update/Follow Up:
Camarilla L3 BUY@4963 gave 25 points
upward movements.
Now Brokerage SL for Safety.
Or Book@4983 20 points.
okies
@Mr.Cooldent,
To be frank I missed the entry.
ouch
i part booked. rest tsl at cost
shriram ji,
thanks.
pl give direct link to dnload them as 4shared.com
it is now a days very difficult to dnload.
@master
3pm update please. thanks.
Hi suresh,
here it is... Rocket Science for Traders
http://search.4shared.com/q/CCAD/1/rocket%20science%20for%20traders?suggested
And a Simple idea to share.. keep an eye on direction of 5DEMA
Go along with that direction wen initiating trade on shorter T/f using 34EMA, 30mins or the 5-10hrEMA x-over... more chances of wins tat way :-)
cheers
Prabhat - Donno below 9360 since yesterday i am with this No. i know only upside if it protects it may protect here (own thought) closing below is dangerous :P :(
Anybody noticed monday during gapdown - done 4988 reverse gear upto 5125 with heavy volume or low volume??? i feel high volume just want to know for "fine tuning the Nos" purpose. thanks n advance.
Dear AimNifty,
Was away for a while..
Considering that huge PE addition,and from price movement it looks,Now Bulls have decided to step in....
Nevertheless,market has come much closer to at-least short-term low is feeling ...Any time it may reverse tomorrow...Nevertheless, not a single indicator still suggests "confident Buy" here,and market has the tendency to remain oversold for some time...
Sis
Volume that day was better than the fall of friday
possibility of morning star .to be confirmed 2maro
Their may be a gap up tomorrow mostly above 5000
Dear Sujatha,
@5023 & 5049 there were huge volumes..
The first one,when market went up from 4988 & the other one vice versa..
Mynac/cooldent - thanks a ton just now want to put prayer
OMG gap up open tomorow :)
DOJI in down trend???
chart pattern lovers, it may be a formation of morning star doji on daily chart. Closing avg coming near 4972-74:)
Day 5D and 14D turning up , seems like reversal is around he corner.
Need to wait and watch.
shriram ji,
i have this link but while dnloading
it is asking for premium a/c.
hence cannot dnload
Camarilla Intraday Update/Follow Up:
One more chance to book 15+ Points.
Camarilla Intraday Update/Follow Up:
From 02/05/2012 to Previous Day Market
Camarilla Performance 208 Points Profit.
From L3 BUY@4963 given 25+ points up movement.
One could have been easily booked 15 to 20 points
profit.
Today Profit = 15 Points.
Total Profit = 208 + 15 = 223 Points.
Kumar ji ki jai ho !!
Sir ji, ekdam durust hein, close > 4975 gives the first ray of "naya savera" :-))))))
Dear Randhir,
If global cues shall be supportive then second you..
But how much sustainable it shall be ? Don't know...
Let us see...
@Kumar sir
Can we carry shorts ?
EE Done.
Friends,
See you tomorrow.
Till - Bye.
EE done... bye all !
What does morning star mean? bearish or bullish ..
Well mkts always do the opposite. In Jan-feb bears had no place it was a continuous rocket- mkt remain overbought for 2 months. Now mkts are remaining oversold for last couple of months. ..
@Mynac: Is there any OI change happening which could suggest some minor relief rally to atleast 5050 levels starting tomorrow?
Thanks a lot Sir for teaching us. 4950 held today. Lets see
tomorrow.
Dear Manish!
Me long & u short but mkt giving something to both of us daily:)
Dear Shriram!
LOL....
Dear Prabhat,
Definitely YES.
i.e. if Nifty will retain/save today's low in "first Hr."& will give a close around last Hr.top i.e. 4988 then,it may Zoom up sharply...
5000 PE & 4900 PE addition is very much hopeful in that context.
Thanks & Bye Everybody...
Can someone tell me what is EE?
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