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....
-
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...
39 comments:
shriram said...
@ Prabha: "transferred from one buyer to another buyer. " --> 1st buyer becomes the WRITER when he Transfers, but again this is a small vol RETAIL phenomenon tat ur referring... :-)
CONCENTRATED BUY & CONCENTRATED SELL is the catch word... those who become the CASINO , the HOUSE, they WRITE CONCENTRATED (in huge vols)
April 23, 2014 at 10:02 AM
Nifty: Can anyone see IHNS in nifty 30 mins chart and BO if close above 6840 for 1 hour? Not able to get correct value in mobile whether BO is above 6840 or 6838??
RCOM: IHNS in 5 mins chart, bo above 134.4 tgting 135.2 and then 136.1 SL, 135.45 post bo.
Also, RCOM is moving up in channel and seems current channel range is 133-136. 133 low already made.
sir,
whats significance of 6847/62?
Master,
If the last rally from 6665 is in 5 waves, then how can the label of "b" be kept?
may have formed pt 5
ns abv 6843 and Bn abv 13025
Tomorrow is holiday... So today is expiry date?
@ Piyush Sharda,
Day Camrilla's HL5:6847
Wk. Camrilla's HL4:6862.
@ Fire,
12345 could also be read as
abc(A)(B)(C)
The 4th took more time to qualify for (B) and in such irregular flats, (C) is often the smallest.
We keep this scenario in contention, considering ST weakness reflected in Hour TA and day macd being below its trigger.
Price being supreme, we have outlined certain key levels to manage the trades.
Prabahnshu sir
Is there any INHS in RIL?
thanks a lot
Master,
Thanks a lot for the lesson.
thank u sir. its amazing how you do it. i get all exahausted in fibo and ema and miss often with
2 tools only
NI3 - nope, seems like no.
@ Prabhanshu
RIl Neck line at 976& head at 966 study purpose only
thanks a lot
DATAS are showing nifty high as 6861.6ns but charts are showing high of 6848
@Master,
Yesterday Resistance Range is from Day .R1 to Week.R1
Today Resitstance Range is from Day Camrilla's HL5 to Wk. Camrilla's HL4
What is the ideology behind selection of Resistance Range?
Battleground within this 100 point range.
http://www.niftytrader.in/nifty/nifty-live-change-in-oi/
6850PE guys mounting a serious attack on 6850 strike ....
@ krish pm,
I'm a cook; I understand the kind of ingredients that needs the qty of spices. It has come after a roller coaster ride of experiences.
Here, too we consider the kind of market, the kind of day, strength & weakness displayed by diff. t/f and above all "the likely EW patterns that could emerge".
Most of them are guess works but based on sound technical experience which work well often in the opening session; and later on market charts its own path.
Master,
A neutral doubt...
Pivot system (CAM or normal ones) , the S/R levels especially, were they devised by Observing Range Bound Corrective waves or TRENDS ?
Is the Pivot System, applicable to / meant to describe a Trending market is the query.. wot is its History of Development sir ?
@ shriram,
Pivot/ camrilla tables are standardized ones; they work often because markets are in corrective mode 90% of the "time".
There are times in a trending phase, markets have travelled way above the extreme nos available in these tables.
We "pick & choose" the numbers that are most relevant for the day, considering the "kind of market, we have understood based on its recent behaviour".
Hence, consider these tables as a std. ones but you must use your discrimination to use them.
mmm... right sir..
so, from a practical usage perspective... u mean to say since all other CANDLE / Hi-Lo EMAs hv now been left behind...
we only hv the Pivot RES zones to guide on possible pause areas ?
6850CE writers are just 1lac ahead in OI. Huge addition in 6850PE 16 lacs till now.
@ shriram,
Definitely not.
When prices make new highs, all emas would be below the prices. So, you look elsewhere to find likely resistances.
On other occasions, you combine these two and if they don't sync well, stay with the averages.
Sir, same is wot i said :-)
One more sir... trading > all HiEMAs on all T/fs .... that in itself to be seen as Sub-division of a Motive wave, is it not ?
then cant we attempt Fibbo extn. for guesstimating pause zones ?
@Masetr,
The Irregular flat red b 123.6% 6855, 138.2 % 6878
Wk. Camrilla's HL4:6862. is between 6855 to 6878
Is the one of the reason for selection?
Thank you very much .
@ shriram,
You asked, "should we abandon all other CANDLE / Hi-Lo EMAs ?"
And I replied for that. Use the tools that are appropriate for the situation.
Fibbo extn: Yes, you may use it.
I rarely use it. Instead, I follow the sub-waves and understand the pattern.
You need such target calculations because you deal with "writing options". But when you trade in index futures or stock futures, following would do. Even buying options in a trending market in the 2nd half of a series, price following would be just fine.
@ krish pm,
I did not calculate extensions but just picked these two numbers, considering strength remaining in ST price behaviour/ pattern.
Aah Master , i was jus exploring with u that, as price has left Hi_Lo EMAs behind & moved up, so now wot to look @ ahead for Pause :-)
One more small tiny Q sir.. :)
Sub-waves do u prefer to forecast levels by Channels or pure pattern tgts like a CnH or a IHnS sir ??
@Prabhanshu SIr
Thanks a lot
re-reading Master's replies.. worth saving today's thread !
@shriram,
Eyeopener of a discussion going on.
My two cent thought. Why not also consider ATR SELL and ATR BREAKOUT as discussed by ND Sir?
@ shriram,
Sub-waves: I see only their form; and when they are on the verge of completing a structure of 12345 or an ABC, I would seek additional inputs from TA.
Pattern spotting could be done EOD for a bit larger t/f. This does not mean they won't work in smaller t/f but I would prefer the forms.
By "Forms", I mean the likely characteristics of each waves, 1st being small or deceptively a LD; 2nd retaining earlier sentiment and unusually quiet, 3rd showing momentum and gaps, 4th breaking channel, often as zigzag with a lot of speculative participation and the 5th being fast & swift in a vertical fashion or an ED. This is the way my eyes have been trained.
Dear Ilango sir & blogmates,
If this rise from 6665 is a possible 5th wave from 5933, then 6845 implies 5=1
BN:
From its 12515 lows, completed a 5 at 13003 on 21st, done the 2nd as a running kind and moving higher in its 3rd wave from 12937 or today's 12958.
Banks starting to move up
@ Aly,
If you look at weekly chart, it displays a much larger bullish possibility.
This is a testing phase in a huge 3rd wave that started from 5933.
Trailing captures these large moves..
Master: Tks for sharing so much, this needs patient read post market :-)
@ ITFPD : ATR can be used , no doubt... only thing i dont get the MATHE-Logic behind it, so i dont use it... prefer to use Statistics... i.e How many Std Dev. is price > Hi or LoEMA on Day T/f + OI clues
Not to mistake as anything for, or against ND pls :-)
Thank you sir,
I was only pointing out the 6845-6850 res zone.
New Post Done.
Post a Comment