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 ... -
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Trading strategy that works wonders besides the supports & Resistance is " Retracement strategy ": The strategy that has wor...
40 comments:
dear sir price are evry leval up...
6188 High end of cluster @ R1 for aggressive trades.
NOW moment ???????
6193 R1 for Day Pivot followers.
6194 Golden ratio retrace for fall from 6356 to 5933.
target 2 of bullflag done ...61% retrace almost there - mild -ve divergence on MACD ..6200 is still good resistance...aggressive shorts there !
Thud... :D
I am trying to count sub-waves in 2-min intra chart.
5th sub-wave for the rise from 6166...(sub-division possible ?)
5th wave for the rise from 6129
Intraday weakmess below 6170/6174 (61.8/80% retrace of rise from 6166).
Strength above 6174/6176 (50% retrace)
dear sir you said 6179 vth wave will be done...? so now count..
Namaste Sir and all,
CLICK HERE NIFTY Day chart
CLICK HERE tatamotors Hour Update
Day High @ 6186.15.
Strength continues above Hr Hema @ 6168, Hr. Piovt @ 6166, Hr. Ema @ 6163
A -WW is now formed on Hr TA ...pt 5 has formed @ 6182 NS
Hr close < 6175 will TRIGGER the Pattern.. 1-4 tgt : 6060 NS
Est. Time to tgt : 6-10 Hr bars
All,
Please note below as well, -WW is formed and pending for trigger below 6175-80 (hour close below it)
@ GS: Not bullish flag but I can see that -WW pattern is in making in 30 mins charts
1-6107, 2-5985, 3-6160, 4-6086 and 5 may form at 6185, then tgt line 1-3-5 comes around 6075
Shri - do you agree with this?
February 21, 2014 at 3:21 PM
Hey Shri, just saw, you already posted it, thanks
Thanks Shriram ji I was about to ask about the -ww pattern
Any level which will invalidate this pattern
@ Prabha : yup
@ Raman : ENTRY trigger is only on Hr close < 6175 (1-3-5 line on Hr).
Why the Q on Invalidation of pattern ? take the trade with FIXED SL (per risk appetite) only after THE PATTERN TRIGGERS .. as of now it has NOT !
Wave-i/a: 6087-6142 (55)
Wave-iii/c = Wave-i/a => 6184
= 1.382 x w-i/a => 6206
= 1.618 x "" => 6217
Another 20K NF contracts shorted by retail traders to be covered (as of 2:45 pm)....
the oi situation at 6200 strike is most relevant since expiry is near
other than that the tech table is in favor of bulls
oi experts any observations?
Sir, -ve divergence in hourly chart?
@ Shriram & Prabhanshu Raman
thanks a lot guys
@ Illango Sir
Ur pre-mkt view
Moving past 6174-89 is quite crucial and it could be done only with a "iiird of 3rd"; Failure to do so today would put Nifty back into corrective mode.
Considering a 5 waves done(vth got extended above 6179) from day's low of 6131:
Bullish:
6168 6161 ... is 38%-50% retrace of the last rise from …… 6131 to 6190
80% is - 6143
If strength to return again, it should be around 6168 6161
Weakness gets confirmed Below 6161 OR 6143
@ Squander : The Pattern has not trigg. yet.
Have a nice day all ! :-)
@ Shriram
yeah waiting mate....
@Shriram...:):)
All I can see is Nifty trudging up a hill step by step one foot forward at a time with a clear direction in mind...))
dear sir nifty cuntinu new hight....so ...(b) wave is unfolding
@ stbstb,,
i second that opinion...but dont say loudly..Some bears might listen
@ Cheta: STB.. almost sounded like STBT ... BEARISH :-DDDDDDddd
@satheesh thanks for the chart
do you see any alternate bullish possibilities because the stock is taking support at the lower levels
Option experts please clarify - in 5950 CE mar expiry options - the OI has increased by 384% - what is the significance?
Dear Sir
Nifty spt near 61.8 % of entire fall from 6356
@Shriram ,
Bhau bearish ka bar :) Evadhe chan day high la closing det aahe.. war 70 pts chi gap aahe tari bearish ?
@ Nitin : Gammat keli .. ;-)
Also near resistance upper trend line with abcde as mentioned by Shriram ji.
acha :-) udya mkt pan Gammat karel :P
@CJ and Shriram......Squeeeze till they cannot breathe = SS (Short Squeeze);):)
Have a wonderful day all....:):)
@ SB:
Shorts will suffer > 6262 big time ... on the other hand, any Hr close < 6175 is gonna be an invitation to Bears
Good day :-)
@ Satheesh...
Hardly see any OI in march 5950 Call options
3200 is the total OI in march 5950 calls.....the addition of 2500 today does not bear much significance as per my knowledge.
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