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:
sir ji,
how to confirm"bounce over"
confirm/know
@ suresh,
Educated guess work:
Prices stopped @ 61.8% retrace of 5460 to 5383 @ 5432.
A 3 wave corrective "abc" form done.
Lead indicator is suggestive of fall continuing...
@ suresh,
If prices move above 5425 now, the above view may get negated.
Triangle in the making?
break-out approx. 5422; breakdown approx. 5400
Big Hallo Friends. I too miss you all.
G - 2.30 Wednesday DN ? right Prof? Long since I played it.
Bye for now.
Long live JNU.
September 4, 2013 at 2:25 PM
"5445" is 80% of last fall above which strength will return..
Friends,
What is JNSAR Status,
LONG or Short??
yes @ Aly ! however need to be cautious since its probably towards the end of an abc corrective
JNSAR is Long 5407
now looking more like contracting triangle with high at 5430. may see an upmove of 30-40 points if breaks upward
indeed @ Aly !
it has to deal with resistance in the range of 5440-5450
Nifty forming possible H&S on hrly chart
Chart
@rgsir,
i think -ve
Breakout from Descending Triangle in 15 min
these intermediate 50pt Strike introduction, has messed up the OI feedback big-time this series,
very tepid & tentative OI adds..
3.00PM TT & Chart Updated.
alternate count
A 5580 to 5324
B.a 5324 to 5459 (
B.b 5459 to 5383
B.c Running from 5383 to XXXX (Approx 5518)
Ilango ji
What is the take home position for JNSAR?
Please guide
@ Ajit,
Would you answer it based on your knowledge of JNSAR & experience.?
@ Shriram,
I fully agree with you. I think these rapid up down of 10-15 points that you get is also because of this.
Thanks
Sir,
My limited knowledge & experience says its a JNSAR long, however prices are caged at the moment.
Hence your view is important.
@ Ajit ,
When prices are caged inbetween DHEma and DLEma, trade your positions to offset whipsaws.
For overnight holding, it should be based on JNSAR number.
Master...one query
Can lead indicator give a minor divergence despite JNSAR in opposite trend?
Jnsar is long but NS not able to go above 50% of fall from 5581-5319. Confused.
Sir need your help to identify where we can enter.
Yes sir,
Got whipsawed badly today too...learning:-(
Thank you!
Dear ilango sir,
Is there any double top formation around 5458 in one day chart.just to learn
Raman
Am doing only JNSAR trades as of now.
Are we closing above Hr34sma?
@ Ajit ,
We suggested a 5 waves done from 5581 and a corrective rise is likely.
Corrective will have
a
b
c
and hence trading based on various fibonacci numbers will mitigate whipsaw losses.
Yes yash,
and the prob with that is , now every price wave looks VIBRATORY on the Oscill..
Need to find a way around this new development pronto
Bye All , have a nice day!
Doble top should take more time to form for reliability.
THanks Sir, will keep this in mind while trading JNSAR & profit booking. Long way to go:-)
@ Prabhanshu,
Choose the study you want to follow; confusion will reduce to a minimum.
Yes sir.. did same and went ahead with JNSAR based option trade.
Respected Sir,
Namaskar
On Google chart how we can have 21 & 34 hr SMA which corresponds with just nifty chart. Since it is having 30 mins and daily scale and not having hrly scale , hence the query.
@ vishnu,
Try having in 30 min chart, 42 (2 x 21) and 68 (2 x 34) period smas and check the values.
Respected Sir,
Thanks for the clarification. I tried the same but I think it differs.
At 3:00 pm it is for 34 SMA 5430 & for 21 SMA 5465 .
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