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...
114 comments:
JAI HO!!!!!
Jaiho.....
Master, unable to post SAR update to justnifty group. Can you please check?
Thanks a lot Chetas..
@Ilango Sir.. what will be level to look for reentry for 1ST lot... for those who are out of 1st lot.
Sir ILango ji thnx very much for the chart
Thank you Master!
A few math-based queries ..
1. By S.MACD here, do we refer std. 12,26 EMA Diff ??
2. And in ur exp, does this no. work uniformly for all Impusles types (Extend 1 /3 / 5, or LD) ??
Am asking to gain pure insight sir , so that we can try to explore the reasons on why the EMA combo gives this kind of moves around the Centre Line
@Ilango,
Really thankful for this new initiative for merging TA and EW, for EW novices like me, will be really helpful in understanding this new study.
@DR Sir,
All rise - jai ho :)
Sir, keeping 5970 as SL, some aggressive long can be taken here ?
Jai Ho!
Kar Aitbaar Daulat Beshumar
@ Tanvi T,
In such a strongly trending market, reselling @ Hour Low ema to Hour Ema zone is the best place with 20 points SL.
Hi Ilango Sir,
Guru gobind dou khade,
kaake lagoon paay
Balihari guru aapne
gobind diyo milaye.
Pl. accept my heart felt gratitude.
Jai ho JNSAR.
Friends, I feel JNSAR is one by-product. This blog is a Kamadhenu.
Rg
NKK
@s4s
its a perfect exit day.
(remember our last interaction on option trade?)
people who talk low about options and its study are just unaware of its charm and potential.
If Nifty is the KING then call and put options are prince and princess in NSE KINGDOM.....
Remember, the HLEma is coming down by 20-25 points each hour.
Nifty has been trading below 6000 for last 1 hour now.. any unwinding seen in 6000PE since that was very strong level ??
@ Abhi,
Look at it this way:
Sell on every rise. See how much the rise has been during this downtrend; that should help you-that is quantitative analysis for you.
Hi!
Humpty Dumpty had a great Fall !
Respected Sir,
Pranam.
Sir at this moment the Hour Low ema is 6030 but I do not understood Hour Ema , which value is to be taken as per TT. Pls explain.
"If a trader do not know the way to follow prices, even if he is the most intelligent like Nobel laureate Amartya Sen, he will fail in stock market." :):):) Great one by Ilango.
I hear some commments from colleagues like ..."I think market will...."I think this stock will.....I think tomorrow nifty will.....
I tell them simply ...Market cares two hoots about what u think....:):)
Thanks Ilango Sir..
Jai Ho!!!
@ shriram,
This pattern is noticed on many occasions. It is to do with definitely the diff. in 12, 26 emas which reflects the momentum and it gets more prominent in +ve zone when 12 is above 26.
Different studies but they all reflect the same.....R H Y T H M.
Get into the Rhythmic moves in the market with an objective mind.
Look at the merit and not the money in it; money will start chasing you.
Shri Ram ji
Chotta clap tow banta hai
Thanks Sir
HEma is 5-Ema of Hour Time frame.
my salutations to you ilango ji !
the true nifty wizard and master !
anyone who had shorted the market yesterday following the jnsar would have benefited.
this blog not only helps us get rich slowly materially but also focuses on the enrichment of the soul !
keep it up master ! may god bless you in all ways always !
Sir ILango ji Hour Ema zone refers to hour high ema thnx
Tanvi T said ....
I am still holding BN yesterday's One lot...Short
What is your suggestion ...
Shall I hold?
Or Book Complete profit?
@Tanvi T
Congrats for on being your own self.
Although, DR is expert in BN and he has suggested to hold.
My two cents, since you had two lots one booked early and now carrying one only after such a great fall you should bookout and take the profit home instead of wating for a SL hit.
Since SL are pretty far off after huge fall you may not be gaining much. Instead look out for re-shorting opportunity after a pull back.
And I suggest trade in mutliple of 3 (lots) book one lot early as you did second after a decent gain and allow third to hit the SL /reversal. That's how I go about.
if some one bought 5900 PE @ Rs 18.5 (50*320 lots) with an early anticipation and market not went according very next day!
With the help of all the knowledge and studies got from everywhere and with strong belief on his trading system averaged the same position @ Rs 9.9 (50*200 lots) and wait for perfect exit day and today offloads total 520 lots @ 34.5
only calculation of profits need time.
Master, unable to post to justnifty group. I am sharing the update link over here. http://i.imgur.com/08y7x9H.png
Reversal only above 603x/609x (12/34 EMA).
@DR dada:
yes , 100% clap time !
@ ilango ji:
Yes sir, am focussed on the insight only. Lakshmi will follow once Saraswati dwells in.
My query was to MODEL what u observe.. Like how i came up with the Bell curve model for price impulsing > Hi or < Lo EMAs
Similarly, to get to the root of this MACD obsv, i shall need to know the "why" behind ur obsv
Esp since 12EMA has a lag of 5.5 bars & 26 has lag of 12.5 bars
How can the pattern obsv be the same in all types of Impulses ??
For Eg extend 1 , if retraced very shallow by a small w2 may not see 12-26 -ve xover @ All!!
mm... Food for thought !
@Ilango Sir..
Pls see my Chart..
as in previous instances... NF has Resisted at 5970 area.... three times...
So Now will this resistance will take support now...
Sorry Forgot to post chart...
http://postimg.org/image/fevvb1yhh/
Goodafternoon master and all friends,
Three Cheers for "Just Nifty" and master...
though firmly believe that master teaches not only Nifty.:-)
Ding A Dong said...
if some one bought 5900 PE @ Rs 18.5 ..
@ Ding A Dong
Infact, that was the trade I was sitting on yesterday, which I closed in frustration at Rs20. just before the fall began.
I remember having posted (frustration) here too.
These kind of setups happen every 5 to 8 months. My study.
My TGT was anything close to 100
nazar hati durghatna ghati
stopped out of my long trades
now 5950 and 5907 are 34 and 55 ema in daily charts
below supp of 5970 may see supp at these levels
@shriram
a _ww was developing in ns charts but since 1-3 and 2-4 lines were not converging i avoided it
possible trgts today may be near 5925ns
coordinates
6019(2/5/13)-5928-6115-5970-6229(pt5)
Ilango sir,
Was waiting for a long time on EW + TA correlations.
Would like to know if you can share any observations on EW labels with Nifty price movements on High and Low EMA's ( Day / Week TF's ).
Raghavendra
After SBI Q4 result...hope next round of selling would start from 6000 (HLEMA)... Let us see :)
@RAIN MAKER
my studies are little simple all that i need is 2 entry days and 2 to 3 exit day in a given month.
my stop loss is level based on nifty levels rather than Option premiums.
some trades my trade CC went 50% dowm but nifty levels were held intact and theta was supporting... I was holding on exited with killing profits.
good luck
Dear All,
Keep a watch on faster retracement
Wave 5 from 5970.5 to 6229 took 52, 30 min candles and down move from 6229 to 5972 took 43 candles so far.
In next 9, 30 min candles if price breaks 5970.5 it would be considered as a "faster retracement" to downside.
Raghavendra
@ding a dong,
you are talking about averaging,and, number of lots.Do you think that's good trading,and what makes you say today is perfect exit
@ illangoji,
if we follow to jnsar than we should part book at 100 points or wait for jnsar hit only.as i part book at 6025 so i am asking u.
@ S4S
hope you missed my question.
are you with the trend?
kabi kabi bachoon kabi post pad lijiye sir... hahahah
in fact i was concerned about your view..
@ Tanvi T,
It will be only a temporary support this time....as long as prices remain below DEma.
This is based on the impending "Turning down of trend in week T/F"; if that happens deeper falls. Hence, tomorrow's close below either 6001 or 5 wk sma @ 6016 approx will be watched keenly.
@ S4s:
guess that can b seen in Hindsight as a Exp. Trig , not a -WW na ?
Nilesh
partbooking at 50, 100 points according to the momentum or at support/resistance.
Second lot carry till reversal.
@ rajapvt,
I do not want you to post calls here or in JN group.
You give a write up about the system or method and let the readers, if interested, follow it from there.
Too much will distract. I hope you understand.
5800 PE is having around 70L as OI, now it is getting more strength for the Nifty support...
@nath
i work for a company that allow and allotted 5 lakh to trade such trade and proudly say that i was my real trade ( not interested in publishing it.. but morning someone questioned OPTION & OPTION RELATED STUDY... so posted it)
some of the answer you get in my reply to RAIN MAKER and its a perfect exit day as my exit range/point was 5978 to 5983
DR sir,
Anesthesia wale Dr Sahab missing
Nifty is sinking
He may be in Operation Theatre operating NIFTY...
Sir
Now that we have macd elliott impulse correlation from u
I request corrective to macd correlation.
My observation about jnsar is
Triggers up towards 1 of 3 and triggers towards end of 1 of 3 downwards
So one gets the meat of an impulse.
I am yet to reach a conclusion on correctives.
Thanks
intra 2 min bullflag visible,
sustaining above 6001, may see 6016-20 NS
Time for sappad, Bon Appetit !
@shriram
nifty has broken below lower T/L of so called expanding triangle
was just applying rule of line joining 1 and 4 to get trgt price
many times have seen giving that good result in broadening pattern as well as parallel channels but problem with these patterns is u dont get time period for areaching trgts
Okay Master, I can understand. I won't be posting further updates of the SAR system. Here is the write up of the system (which was already shared to just nifty group).
SAR TRADE SYSTEM SETTINGS:
Time frame: 30 minutes
STOCHA (40,1,1)
RSI (14)
EMA(12), EMA(34)
Entry for long: EMA(12) crossover EMA(34), Stocha > 50, RSI > 50 (All conditions should be satisfied)
Entry for short: EMA(12) crossover EMA(34), Stocha < 50, RSI < 50 (All conditions should be satisfied)
Since this is a SAR system, trader will be in either long or short any point of time. No stoploss but just reverse the position and hold. Price should be considered on candle closing basis.
Sometimes gap up/ gap down can happen against trade position. No need to be panic and just join the new trend during pullback (near 12/34 EMA) based on strength in market.
Novice people who are interested can follow.
I will be only watching the blog from now onwards and won't post any updates here. If anyone want to use this system and have any questions can mail me only for clarifications.
@ Nilesh,
Cooldent has answered it.
I'll add a bit more:
In the initial exposure to JNSAR, do not worry about the "early profit bookings" as no one knows for sure and hence 50 or 100 is suggested.
A small basic knowledge of TT & TA would alert us to the trend & reversal being big or small which will come to you with some application with time. Once identified, you can then modify your "part booking strategy".
Price clusters in Hour or Day charts also give us hints about the zones where "Pauses" are likely...."5971" being one.
Tanvi,
OMG Satan offering lubricious sops :)
people be careful...
@ding a dong,
i think you did not get my point
JNSAR...JAI HO !
@nath
you can ask one by one so i try to answer..
@ Ding A Dong
My setup too is based on Nifty spot. But I prefer to buy when option premiums are below Rs 10 near about expiry with TGT closer to 100 these kind of a thing happen little less.
This time it was little farther away from expiry hence the price was 18.55 which was about double the risk, hence was wary about the trade and booked out.
Last time too got the direction right but premiums evaporated, move came immediately after the expiry and made loss. (:
Option are always tricky and against the Ilango's teaching "get rich slowly"
@ illangoji,
thanks sir.
if i cant sell reentry than if a close tomm below 6001 than i can add more shorts.
Dear Ilango Sir & Blogmates,
OI Table Update at 1:00PM, Pivot-6113, S1-6072, S2-6040, S3-6000, ATP-6014, VWAP-6014
6000CE writers have just changed the lookout of the Option Table, and a move above 6040 looks improbable for the day, Sell all rises for the day…
Thanks & Regards
@ shriram
a - WW developing
if ns moves towards 6010-15 range may from pt5
trgts 5980 near 1.45-2.00pm
@Crorepati...
I am sorry but I did not got what you want to say...
"Tanvi,
OMG Satan offering lubricious sops :)
people be careful..."
@Rain maker
Options are always tricky - yes i agree that point while need lot of other related skills to arrive at most possible probabilities.
trading options will not lead to wealth all of a sudden and its a great mistake thats in people mind.
i personally consider options are like high beta stocks and try to learn to deal with volatility and uncertainty.
DR sir
When to sing a song?
Tanvi,
I meant the Demon has started to attract innocent traders by showing moon...
:)
Ding A Dong
my sl was hit yesterday only as i was long
today again tried near 6028 with sl below 6022
agin sl hit
again tried at 5975 with sl below 5968
exit at 6007
now short for trgts of 5980
Last message by
Venkat aka Crorepathi
is there possibility based on the trend or ew that nifty MAY SERIES may close below 5477 ?
@ding a dong,
do you think averaging is a good concept?
do you think drawdown of 50% of capital from 18.5 to 9.9 is acceptable?
why didn't you boast when your option deteriorated from 18.5 to 9.9?
your method looks more like gambling.
BTW nice profile pic
@ sir/shriram,
is it possible that if price of 5970 will be protected today then may possibly make an upmove towards 6190 again?????
Nice song Ilango sir.....
rrknan
kyun dikhaye sapne tu sothe jaagthe? :)
cooldent said...
DR sir
When to sing a song?
=============
Jab Raat Hai Aisi Matwali
Expiry ka aalam kya hogga
http://www.youtube.com/watch?v=k-MHRCjzbgE
for tribal people moon in sttilll a moooooooooooooooooonnnn
but for astronauts moon is just a moon!
like ilango is still a mooooooooooooooooooooon to some objectors here.
but he is a cool, humble & simple moon to all people who understand and fallow him, like me.
What is the connection between Nikkei and SBI ?
Both 7% down.
Ding A Dong
Moderate your comments
Second u got from Master Today morning
& this is last once again
@Ding A Dong
Please Stop Laughing, hahahhahahah.
The word
"fallow "
is not new for us, we know who uses this :D
Got it Crorepatiji.....
Thats why I alerted... people... about it...
nath said...
@ding a dong,
do you think averaging is a good concept?
do you think drawdown of 50% of capital from 18.5 to 9.9 is acceptable?
why didn't you boast when your option deteriorated from 18.5 to 9.9?
your method looks more like gambling.
BTW nice profile pic
@nath
If you may allow me to butt in.
For me these are not regular trades. All the money is risk capital. And looking forward to a gain of 8 to 10 times. Yes you can call it gambling, about once every six months.
One step at a time...
One signal at a time....
Each signal since the "Sell on Rises" on 20th May have been reaffirming bearishness....more the signals, deeper the falls.
Today's signal-will it close below DLEma.(6052 presently).or above it?
Tomorrow, EOW's signal-will it close below WHEma(6103) & WEma(6001)...
@ding a dong,
one more query
with the same amount of capital you could have brought lesser lots of ITM PE,with same or better risk reward profile.Was the motive to generate more brokerage for your company
Ding A Dong are you bot or idiot?
@dinesh sir
mind you business and stop wild guess with unwanted intentions. what "fallow" thing that you say?
what to moderate about? if you come out then i can understand your concern.
i am waiting since last night for your answer.
At last smoked out the demon...lol
Lolzzzzzzzzz
hey come on man why all are after me today?
bhushan... i dint get you!
If any one have questioning my ideas well its a good thing i will answer them all..
apart from that whats all this.
@ Tanvi T,
Did you Re-sell @ HLEma-6010...?
pappu pass hogaya ya fail?
5980 trgts done of -WW
now a +WW developing
trgts 6017 near 3.00pm
ok ok i got it. people think i am promoting some thing here hahahahhahahahh
yes if at all I am promoting then I am great promoter of OPTIONS thats all.
like master is promoter of faith in trading.
I am not doing anything wrong here.
I dont need any money from people as market fulfilled me with huge grace.
I am content
Another way to Re-sell as per Fibo table:
38%-6022
50%-6038.
@Ilango Sir...
Sold at 5999 NF...
I think some (please mind only some and they know who they are if they understand their set of desires) people like me my ideas if I come with names like preethi, priya, mamtha, roopali v, tanmaya s hahahahhahahahahhahaha
is it bear flag on 5 mins?
lol
god bless critics.
i made my day out with markets and this is a very good & illangos place.
all critics are welcomed at city56@rediffmail.com
take care
sorry illango as i was the last person to waste your space but things fell in such a way that all happened with out my initiation...
thank you all
@ ilango sir,
you said : re-sell
38%-6022
50%-6038
and HLEMA TO HEMA (6011-6026)
mostly said by you.
best sell area 61.8% with 80% S/L
that concide HHEMA 6054. ( I Think)
if any reason to change %?
with thanks
Dear... all..
It looks like a comment is towards...me...
as my name is Tanvi... and I alerted.. about further fishing...
And one can go and check Mr. Kumar's Comment.. even he also told from his comment(even though he is not ready to accept my loss claims is not that much) that I was his subscriber... and as he know who I am and He also referred to me also MRS Tanvi... why he knows... this... coz I have made him payment two times from my account... and that reflects on his account... that payment from real name "TANVI"
As he also told that another one who commented yesterday... ROSEMARY... is not his subscriber... (May He or she wanted to hide his/her identity.. as he/she might be his present subscriber)
But I didn't need to take any identity....and he also relfected from his comment..
Respected Sir,
Generally the selling strategy advised by your goodself is selling at 50% & 61.8% with 80% as SL. Today the same has been shifted to 38% & 50%.(SL might be 61.8%) Sir please advice when to take such trades with such changes.
@rain maker,
i have nothing against your trading method,you being a wave enthusiast ,and having seen your charts ,your thought process that c5 is done or close to being done.i myself has bought a 6500 DEC 13 PE with small capital hoping for a good risk reward ratio of 1:5.Sorry for posting my trade,but my point is ,it is o.k to have a method to madness.but,madness as a method, is it acceptable
Ilango Sir
Is 5972 3:3?
considering 6229 to 6102 as 1 and 6102 to 6138 as 2
sorry left some good questions unanswered..
do you think averaging is a good concept?
>nath there are two equally waited methods called martingale and anti martingale one should know when to use them.
do you think drawdown of 50% of capital from 18.5 to 9.9 is acceptable?
>no not on all types of instruments and instrument with high risk reward ratios like options does not come under this logic in fact there will be no stop loss for strategic trades.
why didn't you boast when your option deteriorated from 18.5 to 9.9?
the reason was this is EW and illango sir and other EW expert ( could not name has illango warned me in the morning) on 5th wave reversal and its related studies
your method looks more like gambling.
yes it is some what gambling with some calender hedging methods as my mood is in sink with my profile pic
BTW nice profile pic - thanks for the complements.
@ rain maker
If you may allow me to butt in.
For me these are not regular trades. All the money is risk capital. And looking forward to a gain of 8 to 10 times. Yes you can call it gambling, about once every six months.
from where you got the idea of 8 to 10 times profit...
I and S4S was discussing on exit with just 10% on capital ( where is 10% and where is 800% to 1000%)
@ Sahil,
This new low would be the 5th wave from the fall @ 6138.
(Unless, it sub-divides)
@DR
Greetings.
Saw the film in 1962. Then saw many more times. Still I love the song 'Pyar kiya todarna kya?'. Listen even now quite frequently.
Love and regards.
LV
@ Vishnu, marketrider,
Strongly trending market has shallow retrace, sometimes just 23.6%.
Present one is "Day strong" & would become "Week strong" by EOW, tomorrow.
Dr. Venkatapathy Sir,
Thanks and Pranaam
thank u!!
New Post Done.
Ding A Dong said...
from where you got the idea of 8 to 10 times profit...
@Ding A Dong said.
they are with reference to my trade setups
HAI SIR HOW R U? UR DAY JNSR IS AMAZING
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