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...
43 comments:
If one is following daily JNSAR then this is the first trade in FEB
@ITFP
As per the plain vanilla JNSAR without any extra toppings.......
Use 20 pt for Nifty and 50 pt for Bank Nifty only on the first two days of taking the JNSAR Trade.
From the third day onwards use plain vanilla JNSAR.....
Of course the system can be tweaked with different kinds of toppings of which a large variety is available.....But just be consistent....
Do not mix strawberry with Chickoo or sitafal or badam etc.......
Stawberrry...............tho only strawberry................
Sati Savitri or Pati Pavitri....types....
@ master,
Is this Flat "iv" of C wave which will try to do 1.618 times of A or a part of five of 1 ? How one assimilates the EW with the TA set up as the Day T/F is sell on rise and the Week TA suggest SELL
SBSB is doling out the shakes
Time for weekly trend assertion
His Masters Voice
If weakness is to return, it should be around 6057 6061
Rather our masters voice
will 6043 Hold?? !! ???
@ Manish,
Without numbers, I would not be able to relate your comments.
nifty down 6039 but hold 6036 low ??
Break out is possible in the last hour
Whether the nifty will reach the pivot point by way of gravitational pull
@ master
the nos.are the same as per the chart above 5933-6018 as A and now 5965-xxxx C on...Is the flat iv of this C which may complete at 6120-27 or a part of new impulse on the UP having completed "2"nd wave at 5933 ?
@ Manish,
If impulsive upmove, it should then hold above 61.8%-80% of the rise from 5966 to 6080 @ 6010-5989.
6047 6051 ... is 50%-61.8% retrace of the last fall from …… 6063 to 6031
80% is - 6057
If weakness is to return, it should be around 6047 6051
Strength gets confirmed above 6051 OR 6057
satheesh mam please throw some light on tata motors if time permits
If you consider a 5-waves from 6079 to 6031, then the retrace would be as below:
6055 6061 ... is 50%-61.8% retrace of the last fall from …… 6079 to 6031
80% is - 6069
If weakness is to return, it should be around 6055 6061
Strength gets confirmed above 6061 OR 6069
Good to see SO MANY yellow spots in the chat... its been a long time to see such a rare sight...
Regards
Prakash
Dear Master,
Considering the week and month still down and the day t/f upmose has beeen sold into in last 3 sessions, what should a posistional trader do? If he has trailed from top of 6300, and has seen
5970 holding, this rise till 6080 is only corrective ?
Should he stick to shorts as per largers trend or have traded as per day t/f going longs, which were whipsawed?
Or asking simply, going for the weekend, what should be the position? Unike last week when downtrend was clear, today we are in range (DLEMA-DHEMA)....
One answer to my mind is to let the trend resolvee and then enter...But will that be staying away and not takign action?
sir,
Develping jnsar for bank nifty
@ anand,
We have answered in the last few Pre-Market views & the EOD title posts.
We trade the Day & Hour signals. We can choose to ignore the counter trend trades which is individual's style.
Aggressive trader would have gone long @ 5925-65 support zone.
Next aggressive trader would have gone long on a close above 6001(DLEma of 5th) and traded it down when prices resisted.
Next aggressive trader would have sold today considering the open @ 6072-92 discussed in today's pre-mkt.
If one is positional also, after a deep correction from 6358 to 5933, one could have opted to go long considering a 2nd wave completion @ 5933.
These are based on technical studies but perceived differently based on individual's choice.
Whatever one does, SL is a must to make it for another day...to stay longer to take opportunities.
10257
Sir, as of now most probably ns may close above next day's JNSAR ,which indicate to take long position and carry over. Being last hour's trade.. Please guide..
regards..
6051 - Monday's (Next week) JNSAR can be taken valid after 3:15 - 3:20.
thanks,Kiran..
@ shiva,
If I give a direct answer, all my earlier comments are of absolute "no use". There are enough directions in each & everyone of them.
All of them carry some risk.
If unsure, start from Monday.
@ sbsb
pl chk mail and reply
Prices never closed below Hour JNSAR today.
Thanks a lot Master. Sorry for my typos.
Yes- preserving capital and respecting SL is the only way to fight another day.
Following you.....! Thanks again!!
thanks, Sir, actually I ask before refreshing the blog .. yes I have taken a long and will c/f it..
very sorry to disturb ..
kind regards..
Hi All,
Did anyone noticed, there was valid +WW in 5 mins chart (i too missed it). Now almost reached its tgt.
1-6051.10, 2-6078.75, 3-6036, 4- 6062.95, 5- 6030.95
Tgt line 1-3-5 - close to 6067
@ shiva,
Your daring action based on sound study should help you in your trading life's growth.
JNSAR in buy mode at 6068
Weekly candle is a hammer.
Pls do confirm now its long (JNSAR)
Avg CLOSING ?????
Thanks Sir, for kind and cautious words. Following your yellow pages directory, my journey - Rubble to riches, started , after recovering losses, comfortably earning daily bread ..
IOU..
regards..
3 days in a row the candle is a hammer ! :)
@ Shiva,
More the Whipsaw stronger the trend in JNSAR. So rest assure with JNSAR.
sir,
whats the signifance now for the weekly close below LEMA?
regards
sir,
whats the signifance now for the weekly close below LEMA? kindly reply.
regards
@SKS I replied to u on google talk.....
The answer is the same that Ilango has given on so many occasions..
It is ur trade....u have to take responsibility of ur trade as per ur backtested system...
Nobody can tell u what to do....
If u r using next days JNSAR today at EOD then use it....consistently......
Do not change the business rules of ur system.....Be consistent.
Do not mix vanilla with strawberry or strawberry with sitafal....:):)
Have a wonderful weekend all...Luv
yes! Nilesh ji ,
JNSAR is a boat, Ilango sir, is captain, Nifty is an ocean ..and
I have boarded the boat.. ready to face the whipsaw...with safely..
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