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...
21 comments:
Namaste Ilango Sir & all members.
jai hind master, dr ji , julius ji n all
Goodmorning master,
How do we arrive @5801 for the expected Lows ?
Manish ..5801 just the 38% retrace ( 5594-5928)
@ Manish,
5801 is the 38% retracement for the 3rd wave rise from 5594 to 5928.
Another critical number would be month pivot @ 5771 which is closer to 50% retrace.
Hence, holding 5771-5801 is reqd for the next upmove.
Ilango sir nifty come 50dma 5699 if possible
After a long time Nifty trading consistently 50 points below its nearest top.
Thanks master.
Noted and stamped.
Dear Ilango Sir & Blogmates,
OI Table Update at 11:00AM, VAH:5952, POC-5944, VAL-5936, WVAH:5907, Pivot:5942, S3:5895, VWAP:5898
The CE writers have wrested back control of 5900 level, with huge addition of 8 lacs till now, seems like correction to the up-move is on….
Thanks & Regards
Master, nifty is also continuously trading below WEEKLY open.
regards
OBSERVATIONS & OPINION
Market may have trigger of 1 hour range SLO
Now bottom SLO is best risk return trade.
I think 4th wave has limit up to 5937 bcz wave 1st has 90 point move so 5927-90=5937 and 3rd is extended so 5th is now normal =wave1 so the Tgt is 5927 is logically.
sorry 5927-90=5837
Sir ILango ji any specific reason for taking 5594 as low and how much increase in OI is needed in making 5900 level as resistance thnx
5594 is end of Wave 2, for Wave 4 tgt, you take the retracements of W3-W2; mostly ending at
38.2% retracements
Today important locations 5 D LEMA & 5 H.LEA.
Market makes last tailed shaped bearish candle
at 9.39 AM which makes 16 inside candles.Finally
makes new bottom with bullish hammer vol 347000
Next candle c/o top and now c/o of 5869 makes
hourly Bar Reversal.If so MKT.to bounce.
Dear Ilango Sir, is Nifty spot forming an Expanding Triangle Pattern on 60 min chart?
Namaste Ilango sir and all,
Sir please clarify:
1. The current downmove is the 4th subwave of 3rd which can be 38.2%, 50% or 61.8% of the 3rd wave-5594-5928 -so supports at 5801, 5761 and 5721 respctively. and another swiftupmove is pending for the 5thsubwave.
2 Only after the last possible support i.e at 61.8% is broken it can be considered that the 3rd has ended at 5928 and the corrective 4th has started which would be more prolonged?
New Post Done.
sir you sd once that for Stocks we can take 5ema as SAR so my question is what should be the filtered stop loss
INDIA VIX down nearly 5% with fall in nifty
generally with this type of fall VIX tend to rise
any indication???????????????
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