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...
106 comments:
GA sir
Sir,
Was about to book loss in morning
but read your msg OL Same
so keeyed in SL order and went
Just now returned back to see my account green
the first thing I did is booked profit
Thanks Sir for reminding me OL/OH Old traders strategy
PT - now 70 pnts minus hai kya??? greedy :P
Jiggs - GA :) just discussed abt u regarding rupee with PT long live
:)
possible ABC in play as
a 4796.4 4890 93.6
b 4890 4854.25 -35.7552 -38.2%
Provided 80% level of this A is heLd @ = 4815
once the B wave down is played ..we may have an UP- C
Tgt C=A = 4920-4960
Also, price has cloed > 34 EMA, 30mins (4861)
Seem to suggest --> Short-tem has turned into buy on dips....
@Sujatha Ma'm: I feel that we may close good for bulls today.
I am expecting closure above 4860 & 9230.
@DRSIR @ilangosir
oh/ol means
oh same means no long.
ol same means no short.
Am i right?
Seems like 3-3-5 correction done on 5mins???
nifty retracing 20points and moving up 40 points
now may be towards 4905
Sabb SBIN ki maya hai
@sujatha
GA
Abt Rupee i posted here earlier even challenged one person here (did wrong thing).
@Sujatha
G8 meeting in the evening and also 5 PM .. RBI announcements
so this rally if not today then on monday would get sold
SL Keyed in system as per DR SIR
Let's start playing cricket, as per recent sing operation, they(operators, yahan par bhi hain :D) pay you for delivering no ball as well, I think we can "perform" well :)
http://www.youtube.com/watch?v=neGbfDa4EO8
@sir
Plz check spam.
Afternoon Everybody,
Dear Sujatha,
Regarding your minus 70…. Chances…
At present it does not look so… on the contrary above 4870 it may try 4910-15 too..is one feeling..to surprise everyone…(it has hidden potential :)
@ Billgates,
For short term positional trading, we keep 5 DEma as a pivot and use it to change positions.
However, Market swings huge below it & above it.
To catch such moves, which result owing to deviating from the mean(average-5DEma), we get lower Time frame technicals and make intraday trades.
As a conservative trader: When larger trend (week) is in sell mode, use opportunities to sell till one of your trades gets stopped out.
Similarly when larger trend(week) is in upmode,use opportunities to buy till one of your trades gets stopped out.
May month seriesw started with an "absolute set up" for SELL. Those who played with stock options would have made huge gains. These kind of trades come once or twice a year.
Have patience..for the next such huge opportunity.
Illango ji,
Unable to understand this wave sir, help pls !! :-)
For last fall of 4922 to 4789 , 80% retracement is 4895
now if ns could not break abv 4890-4900 range a fast
fall set up may emerge in last hr
Dear All!
Perhaps this is biggest retracement of current week, usual retracement were not larger than 86 points so one can review his/her trade accordingly on weekend.
The_Unprejudiced_Observer!
What kind of care you were advising last night, kindly reply after market hours pls.
PT - :)
mynac - thank u very much for the rescue - not ruled out PT's view monday gap down??
kumar sir,
Aaj Morning star ka pehla surya-kiran dikhaayee de raha hein sir ?? ;-)
OI Please
can some-one give details
about "option pricing model"
calculation/s.
@Kumar Sir: We are set for monday gap up for tgt of 4950?
& then 5050 & my ultimate tgt of 5125 for next week.
@kumar sir
please reply my email
4789-4890 looks a 5fifer..
if this is wave A of a ZZ , we should expect support @ 4815-4840/54
Very Thanks,
Does the same apply for JNSAR?
No point in going long on break above Day JNSAR till
week JNSAR comes in buy Mode.?
I am talking only from perspective of Overnite trade
carrying person.
Suppose some one is using JNSAR he is short on basis of
JNSAR for day but on some day after downmoves a day
come where market closes above 5DEMA.now is he suppose
to close shorts?I am saying this suppose today at 3:15
i know that market is going to close above 5DEMA where i
am holding short on basis of DAY/WEEK JNSAR now a close
above 5DEMA means a clear STOP LOSS for shorts on JNSAR.
AND then suppose next day it closes above Day JNSAR also
but week JNSAR is down ..so this DAY JNSAR breaks above
does this count for longs or not ?
Pls reply.
thanks.
@ Venky,
A positional short holder could part book considering the ST reversal which has maintained for 2-3 hours now.
For going positional Long, there are no indications yet.
At best a rally to 4955-4976 or 4991(61.8%) may expected presently.
How the technicals change in the coming days as the price unfold would determine change of plans.
This rally too is possible only above 4890.
@sujatha
Give me 1295 in Dow today closing bus
if ns closes abv 4880 then will be kangaroo tail candle
in nifty weekly charts
now see the magic
Dear Shriram!
Daily par bhi pahli surya kiran ki asha aur weekly bhi lambi poonch bana rahi hai so double asha:)
Dear shivangupta!
In trading time no Gmail, no Gtalk...only trading & blog updations. I will reply you in evening, take care.
@Sujatha
Mene apna Kaam kardiya .. Ab tum thoda aur zor lagao :D
PT - positional SL didn't hit JNSAR too - happy but missed the rally feeling bad :( :( i never miss intra whether up or down today did blunder mistake :( now adjusting :)
@ Billgates,
Our experience with JNSAR is only based on JNSAR and no other numbers are considered. We may refer after a JNSAR short initiated, "now week JNSAR too triggered...now it has gone below Month JNSAR..etc.."
But trades are based on only JNSAR of Day.
The timeframes may be considered by the individual to understand the depth of the likely moves.
sir,
european mkts are red so is it advisable to take long overnight if nifty closes above DEMA which is at 4896
thanks kumar sir.......reply at your convinence
aho ji kumar sir!
ekdum durust hein :-)
Somvar tak ruk hi jaate hein.. thoda 4910 ke upar closing deve to life set !
Tab tak, short on every break of 34EMA !
@Sujatha Ma'm: Me too did the same as you. Booked out just when the rally started. Now I feel like a donkey.
Dear Sir,
Sorry to say but from a positional short, [JNSAR trade perspective] I do not see any reason to close the shorts so cheap :)
Even JNSAR long as not triggered yet... why should the shorts be touched?
I know sir, you have a lot of tools to maximize the trade returns, but I prefer JNSAR... the system has worked for me... and I wish to keep it simple.
Thanks to you for everything!
34EMA, 30mins @ 4863
Similar set up developing as ysday morning !!!!
Watch out for 3pm , more downside possible if close < 4863...
last round of short covering possible
@Shriram
Somvar ko Shiv tandav .. Giv me LC on Monday
200ma at 4860ns in 5min charts
may lend support
@ Sourav Kundu,
The question was: whether a positional long be created here , closing the shorts. It does not say whether JNSAR or on what basis.
My answer is simply that there is no long signals. However, based on Hour TA, if at all anything needs to be done, it is "part booking".
Every question comes from different perspective. And not everyone looks at the market the same though market has just one path.
I repeat: Follow your trading plan and stop looking at other's plans.
STOCK4SURE
short covering means BNF should be up more than its ATR
Illango ji,
did we just do another ABC flat 4890-4861 , this time ULTA ??
@ PT :
--> lets wait for close > 4910, for now 34EMA is supporting price ! :-)
Kumar sir - lol :) in other words can mean it as "buddhu" "idiot" "fool" etc., :( :(
i will not feel bad if i did mistake in "positional" as i am very weak..but not in intra :) utter failure today..now adjusted with a small downmove and closed.
Bye - Happy week end to all Let it be bad to Market :D
nifty emulating weekly chart paatern of jan-feb 2011
indicating of sharp upmove next week and slightly bearish n
expiry week
@ PT,
Ab bas bhi karo yaar, jaan logo kya baache ki??
OGM... LC on Monday !!
Errr. OMG... LC on Monday !!
all so called res like 4920-4960 etc will be taken out
in gap ups
this view is just based on fractals
plz dont trade as per this view
5100ce can give mutifold returne
@shriram
I am taking home bears as Greece would be isolated in
G 8 meeting
Guys! Pls tell me whether I am reading the chart correctly... Are we seeing a Morning Star being formed here..? with a confirmation on monday...
very good PT,
the only trade i did today was to close my overnight shorts today morn..
Full day , just lookin @ screen and thumb-sucking !
Very beneficial activity, sometimes, for time-pass ;-)
Camarilla Intraday Update/Follow Up:
L3 BUY@4950 gave 40+ Points Movement.
Partial Booking Done. Holding Remaining.
One could have booked 30pts Profit Today.
Shriram
Me to covered shorts in the morning and added in stagerring way
happy now withintraday profits
Sir,
Thanks for JNSAR I am recovering my losses as per your advice.
Sent a mail, please check.
Yes Sir,
You are right. But when it comes from you, I sit straight and heed to your views. I try to find whether what you said is going to alter my trading plan.
Thanks for the clarification! :)
@ shriram ,
JaiShriRam..!!
You are seeing them correct... Stay back & look at them...don't get too close.
Its my personal observation so just a word of caution, any close above 4870 may give a jump of 75-100 points easily & as of now closing avg is running near 4877:)
15min left 11 pts needed for 4900
@master
please update 3pm thanks
@ bharat,
This is not morning star.
Shriram
thumb-sucking !
http://cheezdailysquee.files.wordpress.com/2010/09/78f2797b-cebf-4fab-ae8e-88be8db5a66f.jpg
hahha.. sir,
wot can i do, Nifty always seems to makes these Flats @ 3:00 pm !! :-)
BNF comfortably closing above Pillow of 5 SMA
@Kumar Sir,
Aap mere jaise baby bears ko dara rahe ho. Please sir... kuch bhi kijiye... JNSAR trigger mut karwaiye.. pleaj!
Dr Sir,
Discount vanishing...hari zandi dijeye:-)
3.00PM update done.
DR bhai,
ROFL....
bandar se insaan --> aur ab rewind !!
kal ki kangaroo aur bhainse waaali baat dil pe le gaye sir aap to ;-)
4894...6more chhaiye
chhoti si aasha
DR sir - go long in BN here?
puravi
discount & premium has got nothing to do
Bulls who can track trend reversal correctly
with te help of JNSAR always buy in discount
sir can longs be taken above 5Dma
shriram
dosto key liye koi dil will nahi
sab jayaj hai
yahoo.... Nifty closing above 5890. Now my tgts come alive.. 4915 - 5050 - 5125 for next week.
mera 4900 aaya...monday ko 4960 pe mulaqat hogi
tab tak take care
Hitendra
long since yesterday
BNF likely to close above previous three days high
Dr Sir
Please further educate
"Bulls who can track trend reversal correctly
with the help of JNSAR always buy in discount "
I got out of longs early today, no issues though but would like
to learn for sure.
Thank you
prabhat sir
same to same
After closed the trade 15pts Rocked.
Dear Sourav!
JNSAR is totally different system so if you follow JNSAR then you should not listen all this, JNSAR take care of their followers very well itself:)
closing as of now 4886 +/- 1
Aap sub log JNSAR trigger karwakar hi rahenge... lekin... lekin you never know... ho sakta hai ki we resume our downward journey after touching JNSAR on Monday.
Bank Nifty if close > 9329 it will be
Daily BAR REVERSAL pattern I think
most reliable and depandable.
next week nifty fut may start with prem
holding calls may not be a bad idea
Knocking the doors....JNSAR....
@Kumar sir,
"Weak Bears Butchered"
closing 4889 +/-1
HARISH TAHKKAR
if it closes above it
I will make many many BAR REVERSALs (Reversals to Bar)
during weekend :D
puravi
cos JNSAR gives reversal signal early
and during down trend its in discount vis-a-vis
petfect weekly candle for ST reversal
ok guys, happy weekend,
put up ur feet, & relax :-)
ovr n out !
Dear Anil!
Whole week bulls were hiding here & there, some relief on weekend & closing indicating that it may continue for 100 points more. Have a nice weekend to all of you & take care:)
Everyone Have a Nice Weekend.
Bye.
@ Master
Stock wealth SBIN crossed JNSAR after results for last three hours
and also JNSAR for BN triggered.
SBIN also given the third largest profit of more than 11000 crore for the financial year.
BNF above 5 SMA (DR Ji)
BN also given reversal candle (Harish thakkar)
Gone long in Bank Nifty and SBIN.
Regards Always !
Huge short covering and a good close but the bulls dont have
it yet unless they gap up on Monday.
Dinesh Rishi Sir,
It has closed > 5 DCEMA too.
Usually after prolonged downtredn such candle gives
good bounce.You are after all not only more
knowledgeable but most experienced and respected Sir.
Thanks.
@PTsir,
did u let your stop of 4898 trigger.
Regards
Caution, J10SAR about to cross over JNSAR. At today's
close JNSAR 4954, J10SAR 4953.
@ Kumar technicals
Will have sound sleep next two days with the lead indicator
facing North and your words.
Wishing Master and all JN Friends a Lovely Weekend.
Regards Always !!!
@ DR Ji
Lol............z !
Off to Reversal tonight.
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