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...
53 comments:
Pre-Market View:
Prices sustaining 6142 would indicate negation of a bearish Flag pattern.
Dear sir,expanding triangle in 2 minute chart?
Good Morning Sir & JN Family
Yesterday we had a cross more than R2 and almost with R3.. Today R1 should Restrict NS movement.. for time being... let c..
Re-posting:
GM Sir and Friends.
TISCO retraced more than 50% of the rise from 366.50-382. May be 5.(3).ii.c.(iii) completed at 373.05 and (iv) running.
Now:
Retraced 61.8% at 372.45 and may have completed 5.(3).ii. 5.(3).iii may be unfolding now.
Anybody seen the sun today....???
@prabhanshu ji,, seems like c down with 3rd extended...retraced golden ratio although 2nd wave can do anything,,would be skeptical...price is not supported by volumes in tisco...so, a cautious approach....lets see would be an intersting attempt after another low for the 5th down in c of 2nd with 366.5 as stoploss..lets see how it works
@ Prabhanshu Raman...Alternatively Tisco has completed a 'abc' corrective and moved down???
the golden ratio retrace of 359- 381.9 comes around 367..might coincide with another low in tisco...20 and 100 dmas also placed around these levels..however the fast rise, as it showed sicne yesterday has vanished with 20 dma dipping below 100dma, marginally.. might not have been the case if prices showed more strength..all the best
Good Morning Sir & All Friends.
Just pointing out that BNF has started trading in discount.
Broadening top pattern in Nifty 2 Min char
@SBSB --- here its behind some dark clouds.. :)
Good Morning All. watch out range 6158-6112
@GK looks like most of India is under clouds....:):) Unusual...):)
nifty is at just 5 points premium...is it of any relvance as expiry is more than a week away?
Looks like the election fever is catching with the weather gods also.. Heard it is bright and sunny in kolkata..
This election if noparty get's majority to form government
wht will be markets reaction????
Good Morning Sir & Friends.....
@TAN...Anna, Mamta, Bright and sunny.....Good luck to Kolkatta...:):)
http://www.weatherforecastmap.com/india/haora
@Sud............THUD and only THUD.....
However, market will factor in all that way before the results....the process is already on....
Thx to TV channels + Exit pollsters ......:):)
Is there a -ve Divergence in RSI hourly chart????
Master,
Expanded Flat (iv) done ysday @ 6118 ?
If so... final vth will stop near 6170 NS (v < 0.618x i) ?
Just as 6120 developed as a key support area yesterday, "6142" is developing as a key resistance area.
Bulls, if assert, could turn this resistance into a support similar to 6120 of yesterday.
@ sudharsan,
Yes. There is -ve divergence in 9-hour rsi.
@ shriram,
If ex. flat has completed @ 6117.80, it should hold the key support of 6125 or 6120 and move higher towards 6185.
I would rephrase it:
If ex. flat has completed @ 6117.80, it should hold the key support of 6131 or 6128 and move higher towards 6185.
Thank you Master..Break below 6120 key support could be an aggressive trade????
shriram said any MA based SAR has lag & hence needs RULES TO IMPLEMENT.. in fact any sar or jnsar also has lag more over the constituents of jnsar is what is it out ma or ema no any thing is derived from price has lag
shriram said..cracking JNSAR is no surety that u will make successful trades.. truth is here even if you take out some words
Hi Chetna, agree with you that with extended 3 of c of 2 may have done at golden retrace.
Is it also a possibility of having extended 5 in EW? If yes, then below counts may be possible:
(i) 381.35 378.75 2.60
(ii) 378.75 381.15 -2.40
(iii) 381.15 376.75 4.40
(iv) 376.75 378.75 -2.00
(v) 378.75 372.45 6.30
Master : tks a lot !
@ 50 paisa : whats ur pt ? pl be clear & state in simple words
very much possible,, maintains the rules of EW...iv just touched low of 1st,,did not enter. any ways...it has potential to move higher,..I hope sir reads our comments and guides us when we go wrong...
cracking JNSAR is no surety that u will make successful trades.
cracking means having right?
we all already have it with out cracking with grace of sir
@ shriram,
50 paisa has come here not to learn but to "kuttaya kolappa"...meaning "disturb the pond".
Please ignore him/ her who has no ID.
Please spare me the "grace"...
am i sticking to subject or giving weather reports?
OK Master !
soon 50p will be an invalid currency/coin
Master,
Wave-iv normally breaches trend line briefly.
Current price action has slightly breached trend line from 5985-6052.
In case, trend line from 6052 (as shown in hourly chart) is not touched in next 2-3 hours (6110-120) and up move >6144 continues, can we consider that move as wave-v & negate wave-iii subdivision ?
sks thanks for identifying at least 1 invalid thing
@ Ganesh IC ,
It should be other way around.
If prices do not touch the trendline, then less chance of 'iv" but more chance of wave sub-dividing.
Remember, these are just guidelines and not a deciding factor; hence, stay alert & objective.
@ SKS,
Not will be invalid...it has already become invalid in practical life.....and even Rs.1 and Rs. 2 coins will be disappeared in future totally ....each product will be priced in the multiple of Rs. 5/- or Rs. 10/- ....
Even beggers are not accepting coins...........
61PE writers r fortifying there OI adds...
sir i believe each and every word you say but execution using your views on market is resulting in confusion so need some clear cut clarity in execution front. holding and handling the position
i am unable to derive right view from mixed and neutral comment
not here to disturb but my self disturbed even after so much info here
please understand
@Gauresh........LOL>>>LOL...:):):)
Baat man me thi...zubaaan par aate aate aap ne kehe diya......
Sahi hai...:):)
GM Master & Blog-mates.
Have a profitable trading day.
If I am correct, coins are called "Chillar". LOL
ye mamuli chillar nahi, n ram jaisi chillar lagti hai...
Thank you sir.
Learning theory from books is one part. For applying the same in live market needs guidance.
We are fortunate to have your timely guidance.
If I go and sit in 4th year MBBS class, cooldent, dharmu misra, anmpatel would understand better and I'll know nothing.
I need to spend my time in each class, 1st year, 2nd year and so on to be able to understand what they discuss in 4th year. And even then, if I am not able to understand, either I paid my way thru' 3 years or I have a block at 4th year where I may have to sit with arrears.
I can't take the surgeons' knife and start operations without going through the hard grind.
There are quack doctors who will tell you cut here(buy here) and stictch here(sell here)..
I'm no quack.
New Post Done.
Good afternoon sir and JN Team !!
It is better to keep your mouth closed and let people think you are a fool than to open it and remove all doubt.
Mark Twain
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