Elliott Wave Theory

[1sandeepgupta]

What would be the target if wave 4 is not complete ??

One should not try to catch the falling knife if so much fall has already happened. One should only consider long trade above 265 level.

 

[saivenkat]

What would be the target if wave 4 is not complete ??

As a Cardinal rule.. the wave 4 can retrace to the peak ( high) of Wave 1... but should not go below wave 1 peak..

If it breaches the peak of wave 1, then the fresh wave count has to be started..

In most of the cases..it takes support from 78.2% of Fib levels.. in case of deep correction..

In case of traders/investors.. can take position with tight stop loss near these levels.. provided.. the candles are showing signs of bullishness.. Again these are just my views.. and my way of approaching the markets..:thumb:

 

[prabhsingh]

Trading is all about taking calculated risks and risks can be mitigated if you are aware where to enter and where to exit.Below Hourly chart of RCap represents very good trading opportunity where i feel it has good potential to ride on upper side in coming days.

Please do your own analysis as well before taking any position.

 

[aryabhatta]

As a Cardinal rule.. the wave 4 can retrace to the peak ( high) of Wave 1... but should not go below wave 1 peak..

If it breaches the peak of wave 1, then the fresh wave count has to be started..

In most of the cases..it takes support from 78.2% of Fib levels.. in case of deep correction..

In case of traders/investors.. can take position with tight stop loss near these levels.. provided.. the candles are showing signs of bullishness.. Again these are just my views.. and my way of approaching the markets..:thumb:

Bundle maat maro

This is incorrect & can never be a cardinal rule.

Wave 4 can go below the peak of wave 1, if it is a diagonal triangle, which does happen so what you said is wrong & can therefore never be a cardinal rule.

Thoda paddo yare ...

 

[saivenkat]

Bundle maat maro

This is incorrect & can never be a cardinal rule.

Wave 4 can go below the peak of wave 1, if it is a diagonal triangle, which does happen so what you said is wrong & can therefore never be a cardinal rule.

Thoda paddo yare ...

I know.. but i am not here to explain.. every bit of, "if clause" in the rule.. in case of wave 4 correcting as a triangle.. it shall breach.. and further clause.. i feel .. you have not read.. while mastering EW.. in case of stocks that are trading in future segments..a breach of peak of highs of wave 1 will happen..

You know.. infact the word was the term used by.. Elliot only.. and Ellioticians when making quotes may use the term cardinal..
.

please refrain from making baseless remarks..in any thread..

 

[1sandeepgupta]

As a Cardinal rule.. the wave 4 can retrace to the peak ( high) of Wave 1... but should not go below wave 1 peak..

If it breaches the peak of wave 1, then the fresh wave count has to be started..

In most of the cases..it takes support from 78.2% of Fib levels.. in case of deep correction..

In case of traders/investors.. can take position with tight stop loss near these levels.. provided.. the candles are showing signs of bullishness.. Again these are just my views.. and my way of approaching the markets..:thumb:

This can work or not, this is for aggressive traders who want to catch the price very early. If you are conservative you should try to take position when at least the last lower high is breached in case of down trend.

 

[aryabhatta]

I know.. but i am not here to explain.. every bit of, "if clause" in the rule.. in case of wave 4 correcting as a triangle..

No not any triangle.

Triangles can be symmetrical, ascending, descending, reverse symmetrical & diagonal this is only if wave corrects as a diagonal triangle .... not any triangle.

Poora baat bolo, otherwise you will mislead again

it shall breach.. and further clause.. i feel .. you have not read.. while mastering EW.. in case of stocks that are trading in future segments..a breach of peak of highs of wave 1 will happen..

I have not mastered EW & I have no intention to. Which ever segment you are talking about it may happen or it may not happen, For eg wave 3 is usually the longest wave in equities but in commodities wave 5 is usually the longest wave, that doesn't mean I can say "its a cardinal rule in commodities wave 5 is the longest wave", if something has an "if" in it you can not make it a cardinal rule unless you mention the exception as well

You know.. infact the word was the term used by.. Elliot only.. and Ellioticians when making quotes may use the term cardinal.

Instead of uselessly arguing with me about ellioticians using the term cardinal without mention the exception, lets consider what an elliottician says ... Ramki Ramakrishnan is an elliottician & I will quote him.

Pg 49 Chapter 3 Rules of the game

*Wave 2 can never exceed the start of wave 1
*Wave 3 can never be the shortest impulse wave
*Wave 4 can never overalp wave 1 (i.e.) cross into the same price area except within a diagonal triangle.

I highly recommed you read Ramki's book, most people don't do any study they just go to some internet site, read the half baked truths.

please refrain from making baseless remarks..in any thread..

Listen to yourself.

First you say "cardinal rule" then you say "i knew that but I am not here to explain", then why did you try to explain in the first place with an incorrect statement?

ajeeb baat hai ......

Please stop misguiding people..

 

[saivenkat]

@ Aryabatta..

I dont want to drag further. . this topic.. and You be great.. and remain so..

It is the ignorance of you clutched with your big fatty Ego.. makes you feel others are not aware of the subject.. so.. let it be.. Let you remain as
" Aryabatta"..

I could quote many more reference like you..with page no and all.. but i will not do so.. as it invite further arguments and would defeat the purpose for which this thread is started by Sandeep ji..

 

[1sandeepgupta]

Wave [2] retraced 38.2% to wave [1]. Wave [3] is almost 161.8% extension of wave [1]. Wave [4] retraced 23.6% of wave [3]. Wave [5] is almost equal to [1]. There is head and shoulder pattern is forming. There is negative divergence beteen peak[3] and peak[5]. So it may correct to 2255 next level may be 1892.

Disclaimer: This and all the ideas I present are for educational purpose only.

 

[aryabhatta]

@ Aryabatta..

I dont want to drag further. . this topic.. and You be great.. and remain so..

It is the ignorance of you clutched with your big fatty Ego.. makes you feel others are not aware of the subject.. so.. let it be.. Let you remain as
" Aryabatta"..

I could quote many more reference like you..with page no and all.. but i will not do so.. as it invite further arguments and would defeat the purpose for which this thread is started by Sandeep ji..

Obviously you have to say that as you have no other answer. A fact is a fact.

I don't claim to be a master of EW as I clearly mentioned in my above post but I will never mislead any other member.

Difference between you & me is if I am not aware of something I will say I was not aware of this, rather than twist my words saying something ike "I know this but I didn't want to explain" or give bahanas.

I assume members watching this are here to learn, if one is given the wrong rules he can not apply the concept. Hence it is very imp to state the correct rule