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...
41 comments:
@ anand,
1: 6743-6709.55
2:6709.55-6724-6702-6721-took 3 hours.
@ Shriram Sir,
Does change in OI supports possibility of +WW? Good addition in CEs
http://www.niftytrader.in/nifty/nifty-live-change-in-oi/
Hi Sonu,
the Adds if u see are more @ Deep OTM i.e 7k, 7.1K CEs ... no RES in immediate strikes
for the WW pattern guys to keep in mind,
since the 1-3-5 is triggered, 2 30min candles closes < the 1-3-5 will INVALIDATE the PATTERN
Sir,
I was labeling the moves yesterday in real time but didn't share since these were on 2/5 min and part of learning only. (almost similar to what you mentioned this morning and this -1-2 label)
I didn't expect your response. Coming as a surprise gift... I will try to read that 2nd of this down from 6743 was flat type and slow so 4th alternating is fast and sharp (?) [Applying basic only]
And from 6721 (at open yesterday) the 3rd down completed in 5 waves till 6643 (or if 3rd is sub dividing further , Its correction reached within its 4th – your max marking at 6689). Now since it got resisted at 6680 - as of now- giving impression of 4th, 5th now in progress?
a bearish WW developing in BN charts
may form pt5 abv 13030(may be in 13030-13060)
sl abv 13110
trgts 12850 -12750
Stock4sure plz dont post ur call here....its distrubing for new bees....u can discuss pattern but plz dont post level target n sl....
Is GS Goldbees distributing ? Any thoughts on Gold ?
Seems 4th corrective till 6689 going on... Interesting!
Rock
He is discussing pattern and its target only. No calls were given. Chill
pattern trading sir,
Ur SL for HnS pattern in nifty?
GM Everyone,
have a nice day.
Lagta hai sl uda kar hi manega :)
Stock4Sure,
Could you please enlighten with a chart please. This way we will not be able to understand what you are exactly trying to point out, as there is no mention of whether the chart is hourly / daily / etc. and also there are no points of reference to learn from.
If possible kindly just do a print screen and post it on prntscr.com
Thanks
PT, SL for HNS is 6706?
@Rock....S4S is an old hand .....lets not be too rigid....stretch ur muscles a bit........:):)
Model code of conduct may not apply in this case....:))
Small -ww in nifty spot, will trigger close below 6685.15
Dear Ilango Sir & Blogmates,
OI Table Update at 11:00AM, Pivot-6701, S1-6652, R1-6730, VWAP-6696
Writers taking the day off, with not much addition in any strike barring 7000-7100CE, Weakness stays till below 6737NF…
Thanks & Regards
Prabhanshu bhai. .. 6685-95 is resistance .. I am out for lunch not too sure where short term ema are as of now ... but I will be concerned if it move past 6695
sir 11 am update plz
Sam , Shriram ,
Just trying to understand the Invalidation Point of HNS pattern which was discussed yesterday. So , if it trades below 6650 ( Neck Line) and eventually close above 34Hr EMA ( Day) , the pattern is invalidated ???
I was trying to google the invalidation of HNS ...with out much help
Sir
As usual I am amazed at your pre-market levels.... Certainly there is no match to expereince and skill acquired. May God bless us with such wisdom one day !
My little EW understanding says that correction after a 5wave goes to 4th of the lesser degree? Is that the basic applied for correction to reach till 6689 which seems to be the 4th wave in 5 waves down yesterday from 6743 ?
This seems to me the only way... if we see fall in 5 wave from 6721 to 6643, 4th would be around 6680 (?). From 6743, the 4th would be also at 6689 . So whcih lesser degree 4th was referred or we could say that considering both 5 waves, 6680-89 was potential range for the corrective to reach ?
Sorry If I am botherig too much...but waves calm the mind more than other tools :-)
Bearish OI. PCR continues to decline even with upmove in Nifty.
http://www.niftytrader.in/nifty/nifty-intra-pcr/
Only adding OTM CEs for the day so far...
Sri Ram. Some time back I have inquired about inverter. I have purchased the same.Thanks for the technical guidance
Whether for PC any free good antivirus software is there to protect , and if not which software I have to buy and install . This should not also affect the system speed/browsing etc.Thanks in advance
Read in the place of software antivirus siftware.Thanks
Dear Ilango Sir & Friends,
Does BN look like completing B of wave 4 and ready for C leg?
Thanks!
@ Forum Logic : For patterns spotted on t/f 30mins, 34EMA,30mins is a good invalidation pt
@ Bala : congrats.. Quickheal / kasper-sky are the Std A.virus packs ppl use
Forum Login bhai ..
On of the simple way is to draw trendline connecting head and suspected right shoulder ... Break of the trendline should alert u .. This is most aggressive way ... just a note failure of hns pattern lead to furious move
I was about to type 34 hr ema :) thanks shrimp bhai to mentioning it
Shriram * apologies for typo
@ Sam: Now, the pattern seems to be morning into -Head & Double Right shoulder :-)
@Rock,
Stock4sure's WW analysis is very useful for intraday trading and partial booking/ re-entry for positional trades.
Beginners can ignore ST/ intraday analysis, and focus on positional trades. For this, Ilango sir's EOD daily charts/ EOD comments/ JNSAR/ Day TT and pre-market view are sufficient.
Ya shriram bhai ... as this corrective move was contained in channel
Thanks Sri ram,but, why asked the question is in amazon.com there are various price tags ,virus protector, Rs.370/- and another internet security Rs.550/- and so on So I am confused. Justfor browsing,Trading, Mails downloading (documents,figures from NSE like sites etc etc , which level I have to choose. Sorry for the inconvenience .So far I have used AVG antivirus free version and mechanic says it is not useful and only purchased version is useful.
dear sir now (2) nd is unfolding....?
@ bala: Have given u 2 names.. check thm out .. now , in live trade, lets keep ARJUN FOCUS on price !
New Post Done.
BALA --- I would def recommend Avira Anti Virus.. its free for home use.. its very good for me ..
@ Bala ji,
Try Zone Alaram available freely on Net.
@Bala,
I am also using Avira since many years and am very happy with it.
13015 is 55ema in 5 min charts in BN
may do some small bounce from here
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