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...
33 comments:
It took 27 days from sept 11 to 8th oct for BNF to retrace from 16364 to 15180. If this time frame is anything to go bye, probable Lows MAY b breached n NEW Lows wud b set up before this expiry
The deciding factor on BNF wud b 15772, which is 50% fibo of the entire Wave count fron 16364 - 15180
Each one av Us, whether Long or Short is feelin the HEAT av VOLATILITY, primarily n ONLY bcaz, if one looks at da various Fibo levels, the difference between each Fibo level is so Great, dat punters are having a field day either side
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Market behaviour is an extension / amplification of human behaviour..
Say a person is being judged by the crowd.. When the person achieves success, the crowd praises him unto the heavens. And when the same person despite best efforts, fails due to lack of ability, the crowd derides him like a sinner..
The person has not changed, in all this ..
Its the same with the Sy. Markets... when a company achieves financial success, its P/E expansion knows no limit, & when the same co. falls on bad times or takes poor decisions, the Markets wallop its Capitalisation premium !
Always pays to rem. this.. Sy. markets & valuations are a reflection of human psyche.
Be a Saint in the Trade Room :-)
Master,
As pointed out in last instance by you, Rising Wedge seems to be showing its impact from middle path, which should be highlly bullish.
Correct me if wrong.
regards
below 15772, foll r the other fibo levels on BNF
15618 - 15492 - 15417 - 15180 ( 100%) 14943 -14900 - 14730 - 14588 ( 150% ) n so on
BNF ""MAY B A RIPE FRUIT """, ready 2 fall below n not sustaining 15772
max correction of 18 points in rise from 7825...accordingly 7855 support
da flip side is this. if it does sustain 15772, den 15914 n 16127 ( 80%)wud b the resistences. above 16127 and sustaining" God help SHORTS
15802 is the 80% Fibo for intraday on BNF
@ SJkolkata,
Rising wedge is bearish; where is this rising wedge..? which t/f..?
illango sir,nifty is trading in a falling wedge,is that right?
unknown sir if u can post all observations in one comment only,that would make it easier
Sir..
For Your tgt MLEMA... can say confirmed as 21 & 34 DSMA down side cross over after long time..
Also Below 7790 trade & sustain then 21 & 34 DEMA also down side crossover..
14 day RSI.. on daily & weekly negative..
MACD also negative on daily & weekly chart..
Dear Ilango Sir & Blogmates,
OI Table Update at 1:00PM, Pivot-7886, S1-7843, S2-7774, VWAP-7889
The Level of 8000 is turning out to be a Huge resistance and PCR just around 1, looks like the Bulls are in a small Spot of bother for the time being, Sell on Rise continues…
Thanks & Regards
Sorry Master,
Was talking abt falling wedge as shown in chart above.
Regards
my observation as of today
sitting out till now volatility is high for my risk appetite
positional trades will be impacted by the exit poll suveys which will astart coming tomorrow evening
looking at price action a good move building up now ..on short side
reason is the candle formed on half hour chart...looks bearish...
@ SJkolkata,
Do not forget the "If" in the statement. Because, corrections for the fall from 8160 to 7842 would develop into a running triangle and break down.
False breakdowns/ breakouts too possible..
If breaks out, it will be only the continuation of "B" wave ("A" being the fall from 8180) to be followed by "C" wave towards "break of weekly channel bottom". When that happens, it should become highly bullish for the 5th wave.
Until then, protect capital; trade only when confident of your observations.
Thanks Master,
Got it Crystal Clear.
GAAR news from 1st april 2015..
Sir u want a big down day.. will it be ?
Tomorrow is Holiday: http://nseindia.com/content/circulars/CMTR27792.pdf
@ brijsolution ,
I expect that to happen "Post Diwali".
(Timing can be tricky)
I'll be "wary" of this rise..
Grinding to continue till PCR is between 1.04 and 0.98
http://www.niftytrader.in/nifty-intra-pcr/
Premium eating going on...
watching for 1pm candle high 7884
Dear sir,From july-8th to till this week,almost two and half month,can we look at it as a running correction? pls also clarify, a running correction in 4th wave is possible.thank you.
Holding "7852", ST bullishness continues.(Held 7825, 80%)
@ DR.SGM,
It is possible.
Holding above 100dsma or 7780, such a scenario possible.
sir
as per your calculations if any upmove mow will be counted as c of b what can be limitations count
Thank you sir.
sir,
what is significance of 7852
Sir
100 DSMA in my chart come @ 7731
friends,, what is in your chart.?? if correct 7780 then i have to check settings.
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