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...
26 comments:
Namasthe ilango sir and friends,
Today’s quote received :
Be thankful for what you have;
you will end up having more.
If you concentrate on what you do not have,
you will never, ever have enough.
Hi
Looking for first gap fill.
Thanks
NF: 10DMA comes to 5988, while 20DMA is 5946.
Stock Specific traders can look @ this Hi-prob Set-up :-
Tube Inv. forming a superb CT on Day TA,for Bulls
Brkout on EOD close > 208, will tgt 228
SL: can be placed @ 2% (only after entry trigger)
Time frame: 1-2 weeks
Red colour is spreading gradually across the board. CNX Midcap Index has slipped in negative zone.
Master,
5 waves done from 6042?
Thanks
Namaste Ilango Sir & all members.
Dear Friends,
Back from Shirdi.. a nice and pleasant trip...and yes a blissful sai darshan....
Thanks for the guidance given by JN members...
Jai Sai Ram...
Sir GM,
If it is the 4th wave then it has already completed 38.2% and is closer to tomorrows JNSAR, hence will it be a low risk trade to buy for a pullback. Learning to work EW with JNSAR.
Your inputs will help.
Sir, as wave 2 was sharp, wave 4 has also been very sharp...is it some other degree playing out?
Dear Ilango Sir & Blogmates,
OI Table Update at 11:00AM, VAH:6054, POC-6040, VAL-6026, WVAL-6008, Pivot-6032, VWAP-6006
Though Nifty is in Negative Territory, but not much of a weakness seen in Option Table, with small advantage to the Bears at 6000 level…
Thanks & Regards
@ Que sera sera,
These sub-waves look deceptive and could be sub-dividing too.
Thanks master,
but how to deal with conservative set up today...bit confused..wait for pull back or take it with jnsar...Please help me sir
Good Morning Ilango Sir and Blogmates.
@ puravi,
A sell on rises takes the price, often, towards DLEma or 10 to 20 points below it.
A low risk buy would be "in that zone" where other numbers are also present such as "retracements/ JNSAR/ J10SAR".
However, one need to be cautious considering the "overbought" nature of week TA and a close below "5977" this week would alter the larger T/F TA.
Thank you Sir, your inputs have dramatically helped my trading with JNSAr for last 6 months, now wanting to add EW.
@ Que sera sera,
Yesterday's opening EW labeling was "b" of 4 OR "iii"rd of 5 getting completed along with "Aggressive Sell on Rises" being suggested.
That is a "Low risk-High reward strategy".
For the day, Nifty has just paused @ 5965, the rising wedge channel support.It would be a sell signal.(Monday's conservative trader's SL).There could be small whipsaws.
Thanks Master,
But as labelled yesterday it was iii rd 5 so I was waiting for one more high to sell.
though the close (below dhema) suggested weakness,
at 6042 how would I sense aggressive sell, having one more high pending as per EW
This is just for educational purpose master..not questioning methodology :)
Thanks in advance
@Master,
In above chart,
I had mark everyday that when the lead indicator turn down or up the nifty point are good ,but now this time lead indicator comes much lower but nifty not giving good point rewards, so may be returning up lead indicator is giving more points.
Also Infy's result on 11th .
@ Que sera sera ,
It was a "Open & High same" day.
ORB low got broken early in the day...that too when a new week was just starting.
Hour Lead indicator triggering down after spending so much time in overbought zone.
Thanks master,
every thing was there staring at me
GM Sir.
Parimalji,
lot of done in Wipro in last 3 day movt.
Are u tracking?
pl hv inputs.
welcome back dear anilji
@ S4S,
-ww on 5mins TA ? pt will be formed near 5980-85 ?
GM sir and all :)
It's available "free" utilise it watever data u want (in future it may go to paid service)
http://www.vfmdirect.co.in/bhavcopy/index.html
Have a good day to all.
regds
Dear Hitendra
yes Dear i am constantly tracking Wipro. on the support of 5DEMA it has done a lot.
i am shifting focus on TCS.
Infy result will be poor -- that is expected by the market.
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