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...
34 comments:
sir
plz mention some thing from your vast experience about ...b waves
i know you have written it makes traders HYPER...
how often does we see such b waves....
Respected llango sir/shreeram ji sorry for late response i was away from my system just say ur explanation regarding my query thanks for such a beautiful explanation which increased my confidence and made me able to c and understand markets movement of waves thanks
@Shriram Sir,
I haven't read about LP / HP filtering yet. I am on chapter 10, not sure if it will come later or I missed it completely.
Not able to understand most of the code in the book. Till today, I was thinking that I will probably need a charting/trading system to be able to benefit from the code. But when I saw your message about using Google finance, I was surprised and had to ask you that question.
illango sir
please tell me silver and gold jnsar
thanks
There is another channel support in 5min chart if we join days bottom low with recent bottom 5670.. supports comes at 5675... which is still saved.
And now bullish engulfing pattern in 5 min chart also.
Dear All,
Staying Below 5721 and above 5662 ( High & Low ) will result in a NR7 Day.
Raghavendra
Apologies if I m distracting anyone.
I am just posting my readings for my learning.
@ Sonu:
Main take away from EHLERS is : there are 2 market modes-
1. Hi-FreQ (CORRECTIVE/ price oscillates / vibrates & looses Energy w.o going anywhere)
2. Low-FreQ (TRENDING in 1 direction, moves a gr8 distance)
3. What indicators indicate the MARKET MODE ?
4. How to Trail ?
THINK FM RADIO ... like tuning into a station to hear LATA sing.
Similarly, if we can remove HiFreQ noise (whipsaws) from market action, we end up with the PURE MELODY OF DIRECTION / TREND !
waiting for ns to break 75
Raghavendra NR4 & NR7 expected. Time correction on.
@ Sandy
Can you pls explain about NR4 and NR7
@sandy ,raghavendra
i dont know much about nr7 setup...but have read that it means range is contracting ..and some move is building up
am i right?
sandy plz write what to expect from this observation of yours it will help new traders like me..
Iris. NR stands for Narrow Range. I have discussed abount 4 & 7 days. there is enough material on the net on this. Basicaly a range expansion happens following such a day or next and the size may be in multiples of the range, whichever side Breakout takes place. We are now in clear downtrend and hence chances are ...
@ Iris,
NR = Narrow range. 4 or 7 is the period.
NR7/NR4 = Narrowest price range for underlying instrument in last 7 or 4 days.
Depending on user's choice we prefer to follow 4 or 7 as time period.
I prefer 7 ( longer time period ) and typically NR7 signifies a "range contraction" after a strong trend and a " range expansion" takes place either up or down.
Raghavendra
@ S4S:
BN itching to show higher tgts ??
10,200-250-300 spot coming ?
Sell on all rallies is the mantra. Buying Puts will be advantageous. Stacking of Puts even better. A good possibility of seeing 5400 in August!
@ sandy ,
Please first cross 5808 than wait for that
Master is the final guide. I have exceeded my limit.
NR7 also easy to play on day after NR7... Buy above NR7 day's High and Sell below NR7 days low.
5800 difficult Prithvi
Thanks @ Sandy / Raghavendra
What are the top and bottom breakout range for NR7
Iris, Keep the respective NR4/NR7 day High + 2 for upside B.O and Day Low - 2 for downside B.O.
HLEMA...protected through out the day.......
sir
pl update 3 pm
thanks
anyone can help me where to access nifty spot market profile levels? (VAL, POC AND VAL)
Master,
Any closing comments? ur pref. view remains Irreg. ABC in play from 5677 , or
do we see new ABC started from 5677, with A done today as :-
A: 5649 - 5721 ??
For tomorrow a temporary trend change can happen only if nifty can close above today's high i.e 5721.
Bullish harami on day chart
A perfect bullish harami happens at the centre of the last day bar. Again prices have to go above and close above that days high for a change of trend. As par bias theory trend is still down.
Raghavendra sir nr4/ib or nr7/ib also good..
NR7 day with extremely low volumes
Banknifty and Icici,BOB forming Pin Bar in Daily.
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