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...
41 comments:
Dear sir,
Hope you have recovered completely.
Is the fast fall set still valid and what will be the invalidation value. Kindly suggest if possible
NS.....5435 to 5378 = 57 35 minutes
NS.....5378 to 5435 = 57 35 minutes
@ Swami Shivkumaar,
Till the 21 Hr sma is below 34 Hr sma, that set up remains.
You don't trade based on just one such study.
Prices moved above DLEma+20 yesterday for aggressive traders.
Prices closed above DLEma & 21 Hr sma.
Today prices pulled back to 21 Hr sma & rallying higher.
Weakness would be evident only on breaking 21 Hr sma.
Namaste Ilango Sir & JN Family
For some reason, I see small similarities between yesterday's action and Today's action.
Dear Master,
Thank You very much for the reply. Please take care of your health.
Regards
S Siva
Hi sir,
What in tomorrow JNSAR for bank nifty.
Thanks and regards,
raghav
For Intraday BNF, Reistance @ 9465-80, above which BNF may move higher.
Support @ 9402-9355.
Master,
Just to keep focus on 1 more alt lable, a potential Expanded / Irreg. Flat may be finishing thus :-
a/i 5308 5502 194
b/ii 5502 5254 -248 -127.8%
c/iii 5254 5440 186 95.9% **
If so, shud find RES @ DhiEMA/WkLo combo zone, ruffly 5493 ???...
Sir can this be another alternative
5487 - 5755 as A and 5755 - 5254 as irregular B and currently C is going on
5505 seems to be resistance as double top and from which it looks like forms another shoulder till 5300 and then 4th wave with good rally or break out of HnS pattern for 4th till 1 wave end. Did anyone see this?
Shriram, Bull flag in 2 min chart?
@ Prabhanshu:
yes
5300 PE.....highest OI.....85 lk.......
Thanks Shri, please teach me to get target levels and stop loss for flags? Is it the hight of flag will be the target above top of the flag?
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Bull flag tgt calcs:
T1: Brkout zone + Flag width
t2: Brkout zone + Pole hgt
Shri please correct if my numbers are wrong:
T1 - 5441+14=5455
T2 - 5441+40=5481
??
Sl should be the start of the pole ie 5400??
@ Prabhanshu:
If seeing this minute 2min bull flag
the b.o was @ 5432
so, tgts are:
1. 5432+ (5441-26) = 5447 * done 5449 now.
2. 5432+ (5441-5395)= 5478
And SL: is always 5-10pips below the B.o na.. so ruffly 5422 NS
Thanks alot Shri...I understood except bo zone and sl
@ salildali,
I'll go with Shriram's irreg. Flat from 5306-5504-5254-54xx.
More believable.
Dear Ilango Sir & Blogmates,
OI Table Update at 11:00AM, Pivot-5363, S1-5301, R1-5476, VWAP-5405
The PE writers are just ahead at 5400 level for the time being with 5300 now looking like solid support, VIX cooling off after a steep rise in the last few days…
Thanks & Regards
@prabhanshu:
B.O : is > the TL joining pts 0 & b i.e (5441-5435.7).. see where it comes
SL : is totally a RISK-REWARD call, if playing for 2 min minute Flags, in which T1 is just 15 pts, ur SL shud be @ max 15/2 = 7-8 pts
Only then the RISK-REWARD RULE of Min 1:2 is justified ...
SO WHATS THE TAKE AWAY ?
Better to Play for PATTERNS forming > than 30mins T/f , for best chances, 2mins to be avoided unless one is a super-star like Master !
hangseng from +150 to -100 and nifty follows from +39 to +2
SHRI RAM SIR
WHAT THINK ABOUT GOLDBEES
@ Shriram,
With current high, your view makes a=c in this irregular flat. And the fall since then supports the view as well.
3 cheers to you
Thanks alot Shri. ... Great learning.
Btw.. is it correct to say that 3rd started (Intraday)?
1 at 5449
2 at 5409
Now 3rd starts?
Global cues also supporting Shriram's observation.
Master Good morning,
I have one clear my queries,
1)If NF Index price 21 and 35 hour sma is below ... any chance to breakdown 5330 nos ..... ?
shriram....
so you say now it towards 5478????
@ Murali: Bullish & will be a confirmed B.o > 2950, SL: 2882 (5DEMA)
@ Sonu: Dont know, am waiting for master's guidance
@ Shree: Need to trade > 5425 to see 5478-93
Break < todays low, will be bearish , i guess.. follow master pls
@ master
what are your views????
@ Shriram and Master,
Do you also see an ending diagonal (or wedge) in 5 min charts ending at 5449?
diversions in CURRENCY????
Master,
ur health permitting, pls reply when free...
can we says the Irreg. Flat has run its course & a fall is due now, hi-prob once below 5380 NS ?
Shriram Ji Good Morning ,
In ur views NF
1)If NF Index price 21 and 35 hour sma is below ... any chance to breakdown 5330 nos ..... ?
Dear All,
Developing week is a "Hammer" pattern.
Raghavendra
@ CTF:
Hard Data i.e OI i.e intra melt of 55CEs & adds @ 54PE suggests, more upside possible.
Of course OI is just 1 angle & can change with price action (if we go < 5380-50).
5380 to 5478-93, seems a NO TRADE ZONE ..
lets wait for more clues...
New Post Done.
@SHRIRAM.
i wud rather take yur 11,41 post view
because...why the calls have not appreciated inspite of 23 points up rt now?
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