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...
71 comments:
Ok Master,
got it, no tension, its a gr8 Friday T2 done & more, now on Goldbees :-)
For NS -->
Intra 57PE OI melt is almost as much as 57CE OI adds !
Flight to safety, trade on ??
Namaste Ilango Sir & JN Family
Jai Ho Master
BN Tgt done....booked out.
Taking small contra positions in NF.
Master,
5 waves done in 2 min?
thanks.
Bad things are coming soon
Rupee @ 61.87
@ shriram,
If you see "Tony's Gold chart", gold has completed "A" dn and is on a major "B" up.
@ Que sera sera,
It seems so @ 5575, our target area.
@ Sandy,
Hold on to that view as long as larger trend is "down".
Ilango sir,
How would we know treacherous B is over?
Sujata mam can you please send me a test mail needing your view on gold badly thanx
Nifty pauses in its fall at ND Sir's breakdown target.
Ilango if 5557 is broken that too in faster time frame. Market will be shown big time lower levels.
Master,
Thanks a lot.
if not bothering u too much, pl share Tony's chart link
one more time JNSAR-100 done
Sorry to be done perhaps soon!
Master 'B' likely done?
http://caldaro.wordpress.com/
for Shriram
dear i lango sir and shri ram
any consolation seen for people who are short on gold
thanks
regards
OM SAI RAM
@ Shriram,
http://stockcharts.com/public/1269446/tenpp/10
GM Master,
Does after this treacherous B wave if we assume C wave supercede recent high 5755 or we have truncated C wave ?
Respected llango sir and sheeram sir thanks for all ur guidence i was a blind man and sir u gave me eyes to watch market in proper way sir today i bought 5700pe at 66 and sold for 98. was my better performance than past i followed it applying the study behind it which u teach but was not able to hold because of deciding emotionally. thanks sir will try to improve further.
master...
"Get Rich Slowly... " is what the most difficult thing to learn from you.
In order to make it a habit, i started setting targets after which i will exit my terminal. but whenever i didnt do so after early profits.. i have lost a big chunk in profits.
i wanna change it from today...
thank you master...
Good Luck wit Gold bees shriram...
wish all my friends a successful day...
double ton mood?
NSEL crisis blowing out...:):) KP syndrome. The govt needs to quickly act on this and not wait for FT and MCX guys to take brokers and clients round and round the mulberry bush....:):)
5618 - 50 Hour Dma broken will give good resistance
@ Sandy / Ashwin: tks
@ Master : thanks a very detailed labled chart !
But i have a big doubt sir,
seeing Oscill. action during this FALL , i.e wave labled as PY DEGREE "A" , the "A" itself can very well be a ZZ done & NEW IMPUSLE sub-frac up seeking New top sir ?
Sir Asd Per Jnsar I buy 5640 level. But i NOt Book 50%Profit @5740. as u mention in table.How i know to book profit.and i exited right now
Gold is in bad bear Mkt. Neely has predicted it go near $1100 later this year and final targets could be as low as $500!
Gold is in bad bear Mkt. Neely has predicted it go near $1100 later this year and final targets could be as low as $500!
Msg. only for Shriram
There is a strong Bullish Gartley in daily charts....I do not know whether it's going to be taken easily here.....however 6000 and plus is very very probable in the coming week
Dear Ilango Sir & Blogmates,
OI Table Update at 11:00AM, Pivot-5735, S3-5614, S4-5554, VWAP-5635
The PE addition of Wednesday which was mostly buying, have been liquidated and huge addition seen at 5600-5700CE, probability of move above VWAP at 5635 looks less…
Thanks & Regards
Shriram sir tony had marked it in green colour which is a tentative label it can be changed
Lower selling circuit kind of situation may happen this month. Everybody should deal it with day to day basis. Longs with highest caution!
Dear blogmates...
Though we take our positions according to jinsar,some times due to things that get developed over night across the world markets,we may face huge losses if market goes in the opp direction...
Request your valuable experiences in how to deal such situations nd take a frsh trade..
Dear illango Sir As Per Jnsar I buy 5640 level. But i NOt Book 50%Profit @5740. as u mention in table.How i know to book profit.and i exited right now
gaurav/rochak - gold mini above 30242 - 30390/430/599 as new series starts now only..just note down.. above 430 EOD close it may shoot up more. i donno where u people strucked..unable to help in live mkt due to my domestic work pressure.. try to do intraday and close. positional trial your SL as below 30242 is -ve some more downside v may see..but unable to give exact level as i didn't work out for any short term.
PS : at any cost do not mix ur INTRADAY trades with positional..book profit then and then to cover your loss. gaurav take my id from rochak
Naresh every answer of yours is given by Ilango in the pre-market view. We tend to get greedy and don't book part profits. Time & again you will face this problem and end up being a loser in stock market!
@ Ilango Sir,
Do you see 2 is done and now 3 is in play downwards to see 5204 levels ?
@ gaurav: yes,
@ Sandy: FA wise what will be the trigger for Gold meltdown pls ?
Price action (of traded items) , amplifies the inherent fundamental worth in both directions.
Is there a reason in immediate future to expect Gold to lose its "Safe-haven " status? If yes, then such a change will be a fundamental shift & then Neely's tgts can come into play !
Either that, or a Sudden Rise of Interest Rate by the FED, this make cut speculative money supply from the Gold market...
If so, will affect all classes of Traded scrips / commodities / forex, is the feeling
Dear illango sir ,
sir i am new to this Jnsar trigger @5629. on daily. IT Shows that short get created @5629?plz explain
Shriram as par weekly chart of gold(internationl) it has completed a 5th extension terminal from may, 2005 from around $500 levels, so in next 5 years it should go back there!
Good Morning Sir and mates,
.
If 5 is NOT Done on 2 minute at 5570 but a 3rd was finished, we still would have 1=5 from 5570?
Considering 4th flat (alternating to 2nd zz), 5th still can unfold? - Unless 50% at 5612 is reraced?
thanks sandy. u mean that we have book profit on every 100 poins rise?
For day to day basis please see the charts Naresh and I shall inform if there is any change of view by Neely. Domestic market and International market may have some chart differences. Again markets are very dynamic these days. Caution is required for Gold longs and understanding of charts required as well.
@ Sandy,
Since we are referring CYCLE DEGREE EW lables,
the subjectivity is too wide to trade (40-100% moves can be missed).
From a trade angle, can u suggest Hi-Prob Short Entry Trigger, for Gold, below which level ?
@sandy
how is neely viewing nifty
On Independence day INR gives freedom o USD to rise as much as possible.
Yes Shriram you are good at that I have only shared
long term view!
No such service Piyush. Our Neely is Ilango.
@shriram,
my 2 cents on gold. gold in usd in not very relevant for us as inr is our currency. gold
may never go below 23000
@sandy,
true. as u were referring to his view on gold
i asked.
Piyush, things may get pretty ugly next week on Nifty front.
NR7 gave a 165 points down move a few days ago.
Today, NR4 has already given 185 points down move and is still looking good for more.
@sandy,
agreed
@ Piysuh: tks
@ Sandy: hahaha.. nice, can para-phrase actually
Neely is the "Ilango of West", may be? ;-)
Apologize master and friends for being absent from blog...
@Sandy: couldn't help but commenting on gold target of $500... The cost of gold these days is $1000-$1200 to get it out of ground and rising for last few years because of ore quality going down and rising energy costs. Gold is also quite different from other commodities like copper where price rise brings more supply... in case of gold people (read Indians and Asians) just keep it safe for future and don't sell it.
It is hazardous guess but based on my study of experts I follow the 'target' for gold would be anywhere from $8000 (Peter Schiff etc) - $55000(FOFOA). I think the lower range will be achieved in case of orderly move from a debt based superstructure to one based on freegold. The higher range for disorderly move like USD crash, commodities shooting up, hyperinflation etc.
Shriram good one.
Master
what is the current preferred view.
'B' view negated or wait till 5540 for confirmation. Or
3 wave started.
vivdev the view was not my personal and again wave theory can accomodate all changes of market dynamics. What you are saying is also possible. We need to wait and monitor the charts on a day to day basis.
@ Okay,
I can count the rise from 5487 to 5755 as a 5 or as a 3.
Hence, "B" retrace can be anything and that is treacherous.
Direction is down till prices start showing some "greens" in TT.
3.5 Hours to go for "EOW" signal change, if any.
No adventures...
Get Rich Slowly & Quietly.
Dear sir,
kindly explain me whether we are in B wave , if so what will be target (if 5575 it is reached), so if it reverses from there we can take it as C wave. or below what price we have to take we are in 3 rd wave down.
P.Raman
@ naresh ganesan,
JNSAR trading is a "Stop & Reverse Method" based on that "one number".
You need to be mechanical about it.
Understand thoroughly how to trade "JNSAR" reading through various write ups:
JNSAR Trading
JNSAR- a SAR Method
JNSAR with TT
JNSAR for good gains
rochak ji can you please mail me sujata mam's email id
Sorry folks if I am sounding arrogant...but I reiterate thinking is such a waste of time....don't think, just follow and execute...
As I told on Friday, basically, repeated Sir's words...let's become mechanical like a Robot....pick J10SAR or JNSAR...
Remember, thinking is injurious to trading health :)
Now see NS @ 5487 is possible today-
New Post Done.
Thanks a lot Master.
Looking forward to your updates between 3:00 and 3:30.
S4 for the day is 5536...S3 is 5600, so any hourly close above 5600 has a possibility to visit S2, but WKLema is in between.. so take care..
thank you sir
. i surely go through this
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