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...
96 comments:
@Mr.@nubhut!,
Very sorry for the late reply.
1)Stoploss in Mind: Many experts & trade gurus
against it. Putting screen stop is good.
SL in Mind will not make much prob in trending
days. but in range bound/announcement days some
times it wont work. But its up to u. which one
you prefer. //I don't believe someone can track
our SL order with some S/w and get that price.
Big players have better strategies than this one.//
2)Missing Entries: Oh! My God it happen to most of
the traders. Some times market don't allow us to
think and place order. Without thinking placing
order is the solution for that. Few use SL order for
entry too. Ok again a Qn raise without thinking
if we buy/sell @ Pivot/JNSAR/Camarila if we get loss?
Nothing to do BOOK LOSS. Follow the system religiously
with some money management.
@Mr.@nubhut!,
Even some times our SL order not trigger when
price suddenly jumps. We have to accept those
Unexpected Loss.
Also some time Premium/discount & rollover will
give Losses all these are Parts of our Business.
why this bhejafry with jnsar? me getting depressed by following jnsar last two days. buy sell buy sell. some body help.
@ Archer,
You have done a good study but you have missed the most important one which is "lacvk of upward momentum in day T/F, leaving the week & month" with a close below DHEma. In such a scenario, our trade plan is to sell @ DHEma +10 or 20=4955 which coincided with:
Channel top @ 4950; Premarket's res. @ 4957.
As any trader should know that "getting the resistance at the open" in a sideways market(Being closed between HEma & LEma) calls for a sell.
"Sell when you see the resistances on the screen and
Buy when the supports are reached".
i will take more shorts if nifty crosses 4870
till then only peanuts
hi archeR:
1. to be absol honest i dont track JNSAR, or SSTOCH or MACD.
so basically am just following the direction of 5DEMA :-)
2. when 5DEMA is UP, buy on 2 hlf hr candle closes > 34EMA
when 5DEMA is DOWN, sell on 2 hlf candle closes < 34EMA
Pls always, keep an eye on where price is w.r.t 5DHi-LO EMA
For eg- now:
1. price came from below & closed > 5DLEMA
2. 5DEMA is trending UP
3. Hr close < 5HrLEMA (bearish on Hr TA)
4. 34EMA, 30mins @ 4907
These 4 things, suggest to me that we "may be" in Hrly corrective in a Higher degree Day Uptrend
This view will be correct as long as we can stay above 4887 (30mins support candle zone) & 34EMA
@ 4907
And this is just my hodge-podeg style, pl develop ur own to suit ur skill & mentality :-)
cheers
dollar index getting support at 81 continuasly
Any chess fans here ??
Wot say, 4-1 Anand wins te next round No. 9 ??!! :-)
@ anmpatel,
Following was suggested to "mitigate JNSAR whipsaws" with 4960 & 4860 as decisive levels in the short term.
Ilango said...
Reply sent this morning to one of our readers:
Que: If JNSR triggered -say to -morrow , whether it is to be taken on intra day basis or end of day basis
Ans: Since JNSAR is close to the "Friday close prices", Hour TA has just turned up and if Asian cues are positive, JNSAR is likely to trigger. JNSAR after a "Big-gain trade" is most likely to whipsaw "of moving to 4955 zone and falling again to 4900-4880". Hence, you could go long @ 4880 itself at the open with 4860 as SAR or apply a filet of 25-30 points @ 4960 as JNSAR trigger and once triggers, wait for a pull back to enter the trade. Even if none of this happens and JNSAR gets triggered in a different way, you could still wait for a pull back to enter being the 1st trade after a "Big-gain-trade".
Que: If intra day basis, the first day no stop loss for this or 20 points stop loss.
Ans: We always manage the intraday trades with a 20 point SL. To me "4860" support is critical for upsides.
Que: From the next day onwards, JNSR minus 20 points , if the original trade is in profit
Ans: Yes..That is correct.
Que: What is the implications if JNSR is above or below J10 SAR.
Ans: It has been observed that whenever, J10SAR goes above JNSAR, there is strength for a reversal and vice versa. This is not a rule but a guideline.
May 21, 2012 9:45 AM
@ Shriram,
Kasparov says Anand does not have any motivation left
to win this battle. I think he is right. One loss just
shook him up.
PT - once i will close near to 4865 for intra if it comes looks like on the way
@Mr.Shriram,
Me a hobby player.
Happy to Play & Lose with Fritz.
support at 4875
ha...aa.,sh finally the hourly indicator turned down.
@master
can we assume hourly weakness starts? please.
thanks.
The Trade Wisdon i get from Ilango and Shriram and others which gather in excel has grown big for me to publish a book as though i know all these .. Thrilling stuff
Jokes apart
Shriram .. I see you predominantly following moving averages but pre MA based system generates signals very late.. how do you manage that?
Shriram!
Anand demolished the opponent in the last game, what a queen trap,
Atleast one more win for anand, and all else a draw
@ Yash : kasparov nvr liked anand ;-) He was a genius @ counter-attack tho (black or white)!
Fantastic player, had the highest ELO rating ever :-)
@ Julius : nice ! Playing Fritz is a v high level boss!
u play in any club or local tourneys ?
OI Please
@Mr.shriram,
My level of playing is intermediate only.
Trying to improve. I don't have tough ELO.
@Sujatha
Just today a Huge down in US and we open below 4800
wishful thnking .. lest such grinding .. not tolerable
wow!! dollar index is 81.16
Hi kranti,
Any MA by "design of formula" has a LAG.
Even Hi EMA LAGS Highs & Low EMAs LAG LOWS !
But Illango ji's Hi-Lo EMA system helps to first know wen trend is changing !!
That the beauty of his sytem.
Read up math theory of Keltner channels to appreciate the wisdom of his obsvs :-)
PT - sensex 50 pnts breakdown and BN 50 pnts bear party :)
Time to buy (intra) with small SL
Thanks Shriram
@sujatha
i know u r eyeing BN 9321
@Sujatha
Bring blood on the streets
SL gone
@Ilango sir,
Is it a break down completely ??
@POWERTRADE: Amen…
Hi chetas,
yes ! but wot a blunder by Gelfand... he was winning actually !
will he make the same mistakes again ?
Vishy needs to connect his pawns better & play tight to the back files.
Half the battle is won there :-)
@Prabhakar
Ameen ... :) Today sister sujatha made my day :)
Chetas got caught by a mathematical Whiz..
booked some profit
Rainmaker.. for me too.. Small SL gone in seconds
4869 seems to be the next support level. On the basis of fibonacci confluemce.
Camarilla Intraday Update/Follow Up:
Trade2: 40+pts from Short Entry for those
who hold trailing stop.
Bank Nifty JNSAR triggered!!!!!!!!!!!
oh boy!
Dev 5DEMA chanign direction if close < 4905 EOD !!! :-O
RED ALERT for intra BULLS!
PT - closed my intra target doneeee
@ PT,
Corrective upmoves' 2 negation points are:
4853(aggressive)
4822(conservative).
As per EW, this could be the (5)th wave of the 3rd wave.
Reversal attempts are "feeble" in nature so far.
Thanx
shriram and sir
Missing this fall. Now will take any position tomorrow only.
Sujata :
U got out early ! Now if 5DEMA again decides to visit Kanyakumari, u can enjoy more ildli & vada @ murgan idli store ;-)
Rupee at 55.14.......berserk!!!!!!
Thanks a Lot Ilango Sir
@Ilango
4860 GONE....YOur views please!!!!!!!!
tomorrow day JNSAR maturity level is
4857 ,4939 nifty (F)
No no wont go so easily. Some short covering will come
now.
shriram - intra is different "i will not turn hereand there" once my target done i will be OUT :)
one bounce to 4894????
Remember the samsung ad....gira nahi..NYork market up
by... isme dual sim bhi hai....aaapke paas dono nahi
hai uncleeeeeeeeeee....:):)
Rupee at 55.17....this is without any significant FII
selling......portfolios of FII have depreciated 7%
in dollar terms not taking into account the fall in the
Nifty
What happens when FIIs start selling?????????????
Ashish thoda kal keliye rakho bhai..:):)
Flooded Rainmaker
@master
what will be likely tgt for the 5th wave?
15 min NF chart shows a falling wedge formation
hahaha... yes i forgot sujata ur the intra queen!
if 5DEMA closes < 4905 , it will turn -ve on Day TA..
my thinking @ now: all rises r shorting opps (unless we close > 4907, for 2 hlf hrs).
eevra said...
Flooded Rainmaker
Why so ?
BNJNSAR triggered at?
possible targets?
bear-camp has new visionary leader = S U J A T A
take a bow ma'am
Structure wise BNF is still +ve but NF has turned -ve 4737 NF is my view
though a bit confusing now
ashish - 4864 it will take support @ 3 pm is my useless viewlet us see
FII 5600 pe nahi sell karta hai aur 4800 pe sell
karta hai??
Ha Ha Ha
@Janak
already .. Done in the morning :)
BN 200 pts down from the top today
Ashish - Now it may touch either 50 then bounce back or direct 64/77 closing around @64???
cat on the wall :P :(
A 5 wave being done presently, unless waves start to "sub-divide".
Can we Carry shorts
@Ilango sir
Possible targets ???? more low to come ???
@sujatha
intraday only 4851 last authorised level for me to hold...
good afternoon Ilango ji and friends.
@Nilesh many happy returns of the day.
PT
You asking this?
@PT sir...tum hi to mera sahara they....tum bhi doubtfull????
sujata ... Amma Jayalalita has decided to drag PCs holdings down, so shes dragging mrket down :-)
Cooldent
this is for the second time in may i am confused
Europe people daily come with some news
@ PT,
At the risk of losing 30 points profits, it is better to hold those shorts if created @ 4925, having part booked once.
@Ilango Sir,
Thanks a Lot ... Now no confusion :)
@powertrade
JNSAR is in short
so again 4800 month low maturity level till then
no problem to carry short
@PT
DLEMA is 4860. closing below this means downward momentum. hold your shorts!!!
am i right?
@master
thanks master. Ant me JNSAR hi rang laya. sorry to express my frustration in early in afternoon.
@PT
DLEMA is 4860. closing below this means downward momentum. hold your shorts!!!
am i right?
@master
thanks master. Ant me JNSAR hi rang laya. sorry to express my frustration in early in afternoon.
@PT
DLEMA is 4860. closing below this means downward momentum. hold your shorts!!!
am i right?
@master
thanks master. Ant me JNSAR hi rang laya. sorry to express my frustration in early in afternoon.
@Shradha Saburi @anmpatel
Thanks a ton
DR Sir is missing today, why?
@ PT,
Break of 4853 and getting a bounce is weakness;
More correctly, it is "selling on rises till settlement" as there are many "stuck Bulls", unless FII's/ Fund money start to buy stocks. But stocks TA are generally down.
DKG
DR sir will come with the bulls
Camarilla Intraday Update/Follow Up:
H3 SELL Crossed L3 & L4(as all ranges are small).
Anyway good day for CAM TRADERS. 63 pts from
entry atleast one could be booked Part+Remaining
average of 30 to 36 pts.
anm patel - what u had lunch???? :)
shriram - Vellavetti azhuthamana aalu ayyo pavam mathiri oru face vera :P
@anmpatel,
Q: Ant me JNSAR... :UQ
Not only at the end... but always JNSAR hi rang lata hai. :)
2day excellant day
hahhh..
sujata: ennaku tamil koncham koncham than theriyum.
Enuf to fight wid auto-rickshaw from adayar to elliott beach ;-)
Sir, is it a falling Wedge on 2 min chart?
@sujatha
in lunch i had roti, sabji, dal, bhat and fruit mattho. why you asking about lunch?
@Ilango
Rupee has depreciated 24% since May 2011 !!!!!!!!!
Bye friends
for two days no intraday post b cause office(only EOD)
thanks Sir allowing me to use the space
bye!!!
Dear anmpatel,
Because you have posted same comment thrice :)@3.14,15, & 16 PM
Dear PT,
First 4845 & then 4830 will be last hope for Bulls tomorrow…And considering huge NF intra addition more than 21 lac would be big headache for them …Tomorrow, Sellers would not even think about short covering if Nifty shall not stay above 4915…lack of writing evidence @ 4800 PE, indicates confusion about bottom formation @ 4789 in Bulls mind…nevertheless the final Bhav copy would be the answer for the same…Let us see…..
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