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...
48 comments:
Morning master & JN Family,
Ilango ji -->
Can wave form from 5697 down be seen as a CT (1-4 overlap, done @ 5613 ysday morning), sir ?
@ shriram,
Overlapping fits in a "Falling wedge or a rising wedge" for which the "narrowing pattern" is preferred and not a channeled one.
30Min ORB Signal 5589/90 ↑
Triggered....
Tks ilango ji
In that case, switching to the Channeled move.. can C.v be seen as a CT from 5660 , if 5536-5545 change , supports?
(it wud also be the outer zone for an ABC FLAT lable from 5815 .. :-)
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Hourly oversold started it's effect, waiting for the day reversal...
Yesterday, the selling level came at the opening hour-5615.
Today, the buying level came at the opening hour-5560.
That is Trading the highly efficient & rewarding strategy of "Supports and Resistances".
@Julius: Thank you for sharing good books.
@ shriram,
I'm not able to see any CT developing.
= = = = = = = = = = = = = = = =
Continue to calculate retracements to manage your trades till a day reversal is in place.
Currently for 5561 to XXXX(5596 now; change when new highs are made).
Namaste Ilango Sir and JN Family
@Mr.rajapvt,
Welcome Sir.
Many times I think my posts are just a noise here. But Wish to share something worthy. Thanks for your reply.
Have anyone noticed the aggravated activitly is 5800,5900,6000 options.
@present 5900 best buy stands 2.59 lakhs @ .80
The origin and power of Golden Ratio
Sree Yantra
My Dear Master
your new effort to marking /encircling particular numbers on TechTable speaks volumes
thanks a lot Sir
tks ilango ji :-)
@Julius: A post become noise if it is against of any of the recipient thought process. It is individual choice how to receive and interpret it. Keep posting.
SBI has made double bottom pattern on hrly as well as daily charts. may turn up sooner or later
a small bearish WW pattern developing in ns charts
trgts 5545 near eod
pt 5 have been formed at 5596 but chances are that ns may make a higher high abv 5600 and then last wave will come into play
Hey Ilango, everyone,
I've been trying out 'fibo day counts with simple midpts' and its working out really well (realistically: a method that hasn't failed yet - only one way to find out if it will.:). The last month has been full of 5 day rises and 5 day falls in a sideways movement - counting trading days.
Today would be day 4 of the rise in fibo. See if you can start counting from here on. More in detail one of these days...:)
(no point in asking me questions on the blog since I'm only briefly in internet cafes so I'd ask you to read Robert Beckman's 'elliot wave explained' for this fibo day count thingie).
tc
Yoda
After a flare-up in recent days, BhartiAirtel developed a -ve divergence and is retracing and also taking support at 21HrSMA presently.
Looks like BhartiAirtel taking reversal direction to Nifty,,, :)
Dear Ilango Sir & Blogmates,
OI Table Update at 11:00AM, VAH:5592, POC-5576, VAL-5560, WVAL:5594, Pivot:5585, VWAP:5590
Tug-o-war still on at 5600 level, with the PE writers with a definte edge for the day, but CE writers in hot pursuit, till 5600PE OI is above 70 lacs, Bulls are better placed…
Thanks & Regards
@ND Sir,
Nifty just touched your sell zone and started drifting down.
A 5 waves seem to be over from 5561 to 5600.
@Ilango
Do we now go with the premarket view of "sell on rises"???
2B pattern follow up:
http://www.mediafire.com/view/?m1rjjoxt8xabxiy
@Julius: TCS also in this pattern?
For NF, immediate resistance is 34HrSMA at 5618.
However, 5HrEMA is trying to make a positive crossover on 21HrSMA.
@ Indus,
Unlike the other days, Pre-Mkt of today has suggested a buy based on OS , +ve Hour TA & OS Day TA.
The above comment is to accept price corrections from 5600 & to manage trades incase it retraces beyond certain levels....managing with mute observations and acting when triggers.
The scalpers would trade 10 to 20 points.
@Mr.Rajapvt,
Yes Sir
GM Everybody,
10 lac addition in NF in first 2 Hrs.is the highest addition in NF for last 5 days and Nifty trading closer to top zone of the day would be an early indication for reversal...if there shall be any...so let us wait and see...
@Mr.Rajpvt,
1278 Minor Target[DONE]
1306 Major Target[Pending]
for this Pattern
@Julius: Waiting for the IT to lead and others to follow,,, waiting for the target.
@Mynac: Waiting for your target on Nifty...
hi dear saurav great to hear from u dear freind
Dear rajapvt,
today if there is reversal then beyond 5630 it may zoom up but till then 5608(yesterday's HVT would be first mild res.
today tukka ram bhosle finaly rest in peace...i salute again my salute to this brave police man....
GM Yoda Mam,
Seeing you after long time. Hope all is well. :)
Thanks for guidance
@Mynac: Yes, waiting to exit near 5635/5640 range for today and will re-enter if we close above 5640
@All,
Hourly ema resisted near 5603.
nifty traded once abv 5600ns now may trade in short trading range till 12,00-12.15noon
slide may start after that
12.10-1.30 noon is time to watch
Higher high and Higher low on Hourly chart. (Since yesterday 3 PM candle)
If Not Break & Sustain Yesterday High, Current Hourly Bar will give reversal Bar SELL signal. Now Cat on the Wall.
Market is collecting the shorts,,,
Prayer:
Bulls Touch My Number, let me join you....
julius sir how do u read market as per camarilla chart
New Post Done.
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