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...
70 comments:
@ shivanGupta,
If zigzag is over, confirmation would be a move past 80% mark.
Good Afternoon Everybody...
Good Afternoon MYNAC sir,
GA Mynac
Guru Ji Pranam,,
sw1=5033-5150=117
sw2=5150-5077.5=72
sw3=5077.5--5218.40=141
sw4=5218.4--5154.25(also done abc)
sw5=5154.25--1.6*sw1=5343
Good afternoon Mynacji,
its nice to see you after many days.
Good Afternoon Mynac,
Hope All is Well :)
Very Good A,Noon Dear friends…
Very true, Today come @ Poona, so immediately “Just Nify” :)
High Volume Cash trade @ 5191 would resist Nifty, if it shall try to go towards 5200 in a hurry,as well as Dhema 5187 is there and good 6 lac plus addition in 5200 Ce is there when lead indicator has turned down…
Good afternoon ILango Sir & everyone!
Welcome Rohit ji again at JN:)
Dear Manish!
Rohit ji visited here earlier too & D R Sir welcomed him that time also. He gives his views on crucial juncture, today 20 DMA faced selling in morning & its monthly closing too. Lets see how it unfolds EOD basis:)
NIFTY Chart update : CLICK HERE
Current Hour's Open & Low same @ 5167.40.
It coincides with channel support for this hour.
Weak below it.
Mr RS has just updated for HS formation with target of 4750.
Regards
Camarilla - Scenario 3
Nifty Futures
L3 5196[BUY]
L4 5176[SELL]
seems month trend is giving its last and best shot to keep things down...."Till Now"
Dear Ilango,
From trading point of view ,recent data shows, whenever Nifty has gone below D34EMA ,which is around 5165 @ present …it has gone at least 100 points down from that EMA…in latter trading days,so in that context this hr.open-low has much more importance….
Probably bulls would try their level best to save that 5165 for a day.. let us see…
@ CDG ,
Month's trend is "UP".
Today's day belongs to "Month"...not the week.
It is either asserting its uptrend or set the stage for a reversal.
Namaskar mynac,
kuthe asto apula mukkam aaj - kaal ? :-)
as long as 5147 zone supports, bulls can breathe.. breach of that & its bears in control !
Dear Kumar Sir
We as students are blesssed to have all of you seniors guiding us through this "JUNGLE".
All are most welcome.
bbbb....
@Ilango,
Thanks but little confused. How is month trend UP? 5171-5173 the MHEMA is resisting currently (3 more hours to end this month) and the month JNSAR is 5163 not far off if close below this then the trend is not UP....
What am i missing here? Thanks and Regards....
Namaskar prabhu shriram…
Mhatale tar punya javalch… pan tethe netchi ajun facility nahi…ni sarvat mahtvache mhanaje tithlya lokanna ajun “apale” he Nifty ved mahit nahi tya mule “pratham grase makshika pate nako mhanun thambaloy ni wireless connection sudha ajun Laptop var tethe suru kele nahi..:) ekada kahi sarv tappyat yeun suralit hotay ase vatale ki punha tithun dukan suru karaychech ahech… tyala kahi paryay nahi…:)
sorry 5171-5173 is Months EMA
Huge selling evidence in NF in last 10 miniutes when Nifty has come up to 5165… ( almost 2.60lac addition in last 10 min. )
@ CDG,
Current month(July) trend is ascertained based on the previous month's(June) closing above or below 5MEma.
June ended well above its MEma of 5173 @ 5279.
However, Day & then week turning down and brought the index down to 5033 but month's trend has brought it back above 5173.
Now the judgement day....whether the month trend will remain up or a reversal is likely.
Is that basics clear for you?
How do you follow trend...in say...Day or week..?
Bank Nifty Hour Rising Wedge:
Click Here
Nifty Hour Chart Rising Wedge:
Click Here
hahha... uttam vichar ahet apule mynac saheb,
mee sadhya tasech karat ahet..
chatting from a remote loc wid a laptop + tata photon, has a different fun to it :-)
12pm 30 min candle's High & Low may play.
5183 & 5154 ... Let's see...
I have seen Rohit from Indiacharts posting here often.
There are many others who also mention Ilango in their blog though they do not post here.
Thanks now its clear.
I follow Day and as you have always advised i give preference to higher timeframe so week.
the Basics was simple and now understand what was i missing. Thank you so much
The way Bulls are absorbing NF selling within just 10 points..( almost 3.25 lac out of total 9.22 lac) in last 20 minutes… it looks the battle would be furious in latter trading Hrs..
yes mynac, alos 5DEMA will turn DOWN only on EOD close < 5136
Till then use all dips to 34EMA to buy
Off for lunch, cu guys @ 14:00 bye !
ns at 55ema res near 5180
Out of total 9.90 lac intra NF O.I.addition …. 4 lac addition is bet.5165 & 5178…
somebody plz pinch me
seems a fast fall setup emerging in ns charts 5min
Hari sir...where are you today?
DR sir
First let me clap then i will pinch :)
Cooldent
:D
Cooldent
will part clap @ 415 (Sachin's fav)
@ Cooldent sir
My chart is still showing overlapping sir
Stochastic cross over seen in 60 minutes NF chart
@ Cooldent sir
Thank you
Hari_Hyderabad
apply sandpaper on indicator
(can check on 30 mint)
@ DR Sir
Thank you
Rohit Sir H&S theory leke aaye hai,
but H&S is not is good technically good tool.
its failure chances 90%.
mynac - add this too - 5349-5032 = 50% FIBO 5190
today support took @ 61% 5153 thing is v hv 2 be ready with nos. :) month end closing may be around 5190 or 5202 abve is +ve for AUG. or else sell on rise??? weekly H4 is 5172 dancing like "Prabhudeva". the way monday taken out the H3 & H4 is the big hurdle for bears i believe so let ur no. 190 go up and give XXXXX if that hurdle permits
July 31, 2012 12:35 PM
PS : Not taken out 5202 is earling warning signal for bulls??
@ MASTER
Being resisted or pause at 80% of ( 5218 to 5154 ) , if bought in range of 5150 - 5155 as EMA , where would be we look for booking at , as this Month / week time frame fighting for close
http://3.bp.blogspot.com/_2jnwM0UtQvo/S63BQAhTEuI/AAAAAAAAAI0/GQ93KCi-PxQ/s1600/prithvi1.jpg
accept it or 4get it
80% of (5218 - 5154) comes at 5205. Resisted here.
Dear Sujatha,
Very true but it won’t be that much easy for Bulls to force that intra 11.54 lac sellers to cover their shorts above 5200…Nevertheless any close above Dhema will keep Bulls hope always alive there. Expecting 5208-5213 up to 3.30PM. Let us see..
@ sandeep bhoite,
For intraday trading, if you are well prepared,part-book out with 50 points.
If holds approx. 5185 now, it would clear 5205 and move higher later.
I see weakness only below 5185.
from the low of 5154:
i: 5154 to 5175
ii: 5175 to 5164
iii:5164 to 5204.45
iv: 5204.45 to XXXX is on.
V: should follow then and a larger retracement for "i to v" once 'v" is completed.
If 5204.45 is not cleared, that would cause "concern" to the bulls.
The observation is based on 2-min intra chart....
Hence, use discretion.
Its raining in pune,
time to listen "Ma Rewa "
http://www.youtube.com/watch?v=89D-4-ztyIM
dancing in Joy, feels so good
the next song i want to dance is
http://www.youtube.com/watch?v=bKWKDOiHVDw
( kandisa Alam alam )
I hope by that time v will be over and we can short
If 5204.45 is not cleared, that would cause "concern" to the bulls.
hummmm...
thanks mynac for ur view - my worry is if close is abv 5202 then the picture may change :( that's not good for bears
Mayac Sir
heavy rainfall in pune. enjoy rainy weather.
@ MASTER
Thanks for educating us, also great teaching in time frame cycle ,a great explanation through EW, as that point i need to study hard,
Great Master Thanks
@5205 cleared
Dear Prithvi!
Rohit ji koyi theory nahi laye hain, wo sirf ek probability bata rahe hain. H&S is not his theory, its in books when i, you & he were not born. Rohit gave some fantastic trades in this industry & i was eye-witness one of them. On 9th april, 2010 he gave sell call at INFOSYS at 4400 with stoploss of 200 rupees & target was 3000. Infosys fallen till 2000-2500 rupees same day from 4500 if my memory is not weak:)
Sorry for the date, it was 10th April, 2003.
@ sandeep bhoite,
Where are you from ? I am from pune.
--> back
Ilango ji,
looks a simple stgt fwd 5fifer from 5033 , 5th sub in paly tgt 5154+ 116 = 5270 ??
4th has not gone into 1st either...
Dear Amol Sharma,
:) Rain is need of the Hr. & enjoying it today...That’s why I am here… OFF today :)
@Kumar Sir
i m sorry ,please don't mind,i knew that this patter is old when i m not born,but its not 100% trusted
Dear Prithvi!
Thank you very much, kindly guide me one pattern which is 100% trusted in technical analysis:)
New Post Done...
Capturing of the critical 20 sma is on....(5215)
recovered all losses from 1030 min EMA ( todays bottom)
head & shoulders fail is view of many. it was probably discovered by schabacker in 1920-30 and illustrated clearly in edwards and maggee.
ppl ususlly dont read in detail before claiming it failed. magee clearly states that prices whipsaw many times on shoulder line and he recommended a 3% break of neck line to confirm break of h&s. a neckline or any pattern line can whipsaw. by struggle that point. its not failure of pattern for shorting he recommends retrace to neckline,retrace to trendline connecting head and right shoulder, 40 % retrace of the fall. if one cant wait or follow rules because nature of futures trading (sl is small) then one may not use the tool for trading. a different tool is required .its not the tool has turned faulty.
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