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...
27 comments:
goodafternoon illango sir and blog mets,
Shriram sir,
Can we term this rise from 5962 as 5 wave as 5962-5983 as i 5983-5964 as ii 5964-6003 as iii with 6003-5994 as iv , 5994-xxxx as vth With ii as abc x abc correction so iv may be simple correction?
reposting..
shriram said...
@ Prakash:
Will side step EW for a bit, To simple eyes.. a nice CnH may b forming..
B.o on 15mins close > 6010, Tgts: 6010+ 50 = 6060 NS
80% of today's fall retraced
Thanx Shriram sir for developing new pattern on nifty
After reading this blog....I am almost sure that markets can neither be tamed,nor predicted and not even followed.....it's a myth . 5971 BEING A CRITICAL NUMBER ,breached convincingly...now about 45 points above that level....dunno if anyone can trade this. It's easier to see in hindsight not while trading......
Dear Ilango Sir & Blogmates,
OI Table Update at 1:00PM, Pivot-6015, R1-6072, S1-5980, VWAP-6007
Still within yesterdays range, unable to move and sustain above 6038 though the 6000CE writers have covered more than half from the last update, VIX above 19.45 is Weakness for NS…
Thanks & Regards
@ Prakash:
New kidhar? its one of the oldest patterns of classic TA ... was unable to see clear EW labels, hence resorted to simple TA
Time for sapaada now , cu all @ 13:30hrs :-)
Pre-market view today :---"5971" would continue to be the number to conquer besides the DLEma..
Until a close above 34 Hr Sma, view the rises with suspicion.
34 Hr sma still to be conqured...
NF struggling to remain in positive zone
Another day of Master's superb pre-mkt advise & weakness/strength levels during trading time.
@All: What is the 34 hrsma level?
Shriram sir ,
I mean to say Pattern is not new, as u have seen this developing cup & handle pattern & telling on this blog
Nifty Pre-Market View:
Holding above 5948-56, ST bounce could move towards 6015-6025 zone..
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Nifty made a low of 5962 (Held above 5948-56) and has made a high of 6017(6015-25 zone).
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Not rocket science....Kids stuff.
sir ,
5 wave labelling to star from 5962 or 5964
"5971", the critical number has been discussed on several occasions including during this fall from 6356.
And today, the 200dsma has come upto "5971".
@ Piyush Sharda,
5964.
@ Piyush Sharda,
This would mean more highs during the day, holding 5984.
34 Hrsma on NS is at 6032.
thank u sir. 5984 wud be 61.8% 5964-6017. cannot relate any other no.
GA sir nd friends :)
http://prntscr.com/2po0ry
PS : remembering January month concept
bye
awaiting that D-D-D trend to assert itself.........
@ Janak,
IF D-D-D trend keeps on asserting itself everyday (by EOD), markets will generally go in one direction only thats D.. (every EOD close lower than previous EOD) and somehow markets don't function that way.
Take ur call. No offence intended.
Cheers
RS
@ Illango sir
Shld we wait for 6025 NS to recreate shorts??
Ilango said...
@ Iris,
A first 80% (5988) has been surpassed.
Hour trend with +ve div has asserted and Day would turn up if prices close above 6020.(DLEma)
Look for next larger retrace from 6097 to 5933 and Hour TA should be OB when prices reach that fibo point and close below HHEma for conf.
February 4, 2014 at 2:21 PM
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Hour trend is up & not yet OB. Trail it with 5984 or 5971.
--> back
Master,
as an alt. can u see 5 waves done now from lows of 5962-6021 ?
New Post Done.
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