Intraday Trading

[kthakker0]

Bro,

Is this start of Wave B from EOD perspective?

I can tell you The Elliot Wave in which the market is currently trading.

But first answer this question...

1. Do you want to be spoon feed or
2. Would you like to catch the fish yourself?

Choose your question and I'll answer it.

Bye

 

[prabhsingh]

I can tell you The Elliot Wave in which the market is currently trading.

But first answer this question...

1. Do you want to be spoon feed or
2. Would you like to catch the fish yourself?

Choose your question and I'll answer it.

Bye

2nd option.Thats why i never asked internal of any Wave and just asking for continuation or trend changer pattern.

Also will highly appreciate,if possible,if you can post some charts as well as that would be very much helpful from learning perspective from experienced people like you.Not asking to post every day but once in a week should suffice which should provide overall trend.Thanks.

 

[prabhsingh]

Kthakker Bro,

Attach is the image where i have tried to give Wave Structure for Nifty.Will appreciate your comments/thoughts for same.Please note still in learning phase hence if this is completely wrong kindly provide your views as well.

 

[kthakker0]

Kthakker Bro,

Attach is the image where i have tried to give Wave Structure for Nifty.Will appreciate your comments/thoughts for same.Please note still in learning phase hence if this is completely wrong kindly provide your views as well.

22/12/2013 Sunday

Hi,

First things first.
Your manually labeling of the Elliot Waves on the Chart is wrong

Your Mistakes

• To apply the correct Elliot Wave label on the Chart you'll have to familiarize yourself thoroughly with Elliot Wave Guidelines and Fibonacci ratios. You are not familiar with Elliot Wave Guidelines and Fibonacci ratio.
• Your Elliot Wave connotations are wrong.

Refer the fig for correct Connotation and Labeling

Manually label the chart as per Primary Wave Degree connotations.

There are always two Open Options when a Wave starts, because no one knows in advance as to what will happen in future.

For eg. Wave 3 is always the longest, so at times its creates a confusion weather the ending of Wave 3 is for real or Wave 3 will still extend.

The particular doubt happened in this current Wave structure.

See the two different Wave structure that are formed
Initial Wave Structure
Start - End
W1 = 5108 - 5572
W2 = 5572 - 5319
W3 = 5319 - 6175
The above was the initial Wave 3 label which happened on 19/09/2013
W4 = 6175 - 5754 W4 ended as per Fibonacci ratio and so it was assumed that Wave 5 has started.
W5 = 6175 - 6194 was the high on 15/10/2013 (nearly about a month after Wave 3 high was made) the Wave that was supposed to be Wave 5 was relabeled as Wave 3, due to which Wave 4 disappeared. With this relabeling calculations had to be redone.

The relabeling increases the not only the work load but also The Dreaded word "Tension"

The new Wave structure after relabeling
Start - End
W1 = 5108 - 5572
W2 = 5572 - 5319
W3 = 5319 - 6383 Wave 3 continued to complete at 6383
W4 = 6383 - 5983 W4 ended as per Fibonacci ratio
W5 = 5983 = 6480 Is the level where Wave 5 get's over.

Now, do you understand how difficult it is to learn and forecast correctly so that money is not lost.

Money Management starts with Correct Forecasting and labeling your Elliot Wave.

So, while keeping this variable in mind, Re-label your Elliot Wave accordingly and some of your doubts will be cleared.

Nevertheless doubts will remain. It will take Time and Experience to get over it.

Go slow in understanding the Elliot Wave concept.

Bye

 

[kthakker0]

19/12/2013 Thursday

Hi,

The fall is rather too nasty and uncomfortable till now.

Or is it the Classic Bear Trap in the making

The signs of (any) rally will be wiped of it yesterday's low is taken out which is also the SL

Bye

Not taking 6151 low signaled rally is alive

20/12/2013 Friday

Hi,

NF not breaching 6150 signaled that 6330-6350 is the target.

NF already traded > 6290 which say's that I am ready to kiss 6330-6350 any time.

Bye

23/12/2013 Monday

Hi,

The Classic Bear Trap:
19/12/2013 - NF low 6161, My Target - 6330. Sum Total = 170 points.

This been the last rally, Bulls will not let the market go so easily till Series End.

From thereon till May 2014 General Election, Bears will rule the market.

But I am waiting for my 6330 - 6350+ levels.

I don't know about you guys.

But the moment 6330 is breached the rally for me is complete.

Enjoy the Party till it last's

Bye

 

[timepass]

But I am waiting for my 6330 - 6350+ levels.

6330 kissed. I guess you booked your longs ??

Should one go short now ? Or after this expiry ?

 

[kthakker0]

6330 kissed. I guess you booked your longs ??

Should one go short now ? Or after this expiry ?

23/12/2013 Monday

Hi,

Yes, breaching of 6330, officially states that the rally is complete.

But the Bullish hangover will last some time. So what ever high the market trades into should be used to sqr up all the longs.

Let's C what the market is up to

Bye

 

[kthakker0]

24/12/2013 Tuesday

Hi,

Dec Series Sell NF @ / > 6309 SL 6318-6330

Jan Series Sell NF @ / > 6368 SL 6389

Bye

 

[kthakker0]

24/12/2013 Tuesday

Hi,

On 26/12/2013 Thursday we could see a spike in NF which should be used to add shorts in Jan series while keeping the given SL.

Where as Dec series will be used to make all the sellers sqr at high price

Bye

 

[kthakker0]

26/12/2013 Thursday

Hi,

Been the last day of Dec series there won't be much movement today.

From tomorrow Jan series not sustaining trade above 6355-6368 max 6389 will see further downfall in the coming day's

Sellers keep 6389 as the SL for Jan series

Bye