Manoj's Trading Diary

[varunkochhar]

Are these 4 swings within a swing based on Eliott waves. (Something which i could never understand because of counts and alternate counts. It seems just like a case of curve fitting where you present some scenario or other to justify your counts.) This i am talking about Elliott waves not your swings,

 

[manojborle]

Are these 4 swings within a swing based on Eliott waves. (Something which i could never understand because of counts and alternate counts. It seems just like a case of curve fitting where you present some scenario or other to justify your counts.) This i am talking about Elliott waves not your swings,

Varunji I couldnt understnad Elliot waves so left reading about it. Its plain technical normally trend continues with either pullback or complex pullback. Thats it nothing else. If 4 swings are formed then range continues until one of the side breaks and trend starts again.

 

[varunkochhar]

Manoj ji are these 4 swings there in all time frames. And Secondly and more importantly what is your position in the market as of now as you still do not have a confirmation to go long.

 

[varunkochhar]

I mean what are your charts telling you as of now. What i could gather from your posts is that you are still short.

 

[manojborle]

Manoj ji are these 4 swings there in all time frames. And Secondly and more importantly what is your position in the market as of now as you still do not have a confirmation to go long.

Yes 4 swing concept remains in all timeframes. Nifty has started downtrend in my HTF so there is no question of Long. Short will be in Supply zone depending on RSI

 

[manojborle]

I mean what are your charts telling you as of now. What i could gather from your posts is that you are still short.

Varunji I am intraday player and I do not have any position at EOD of every day. My view will be to short Nifty as per my charts in Supply Zone depending on RSI in my trading timeframe (3 min).

 

[manojborle]

Levels for 3rd October 2017

NF: 9865, 9925

BNF: 24497, 24663

 

[varunkochhar]

Manoj ji are your levels that you have posted for today not contradictory to your short position. I mean your range of 24497-24663 would that not make you bullish. In the other thread you are saying it will reach 239xx. How does one trade with such divergent views.

 

[manojborle]

Manoj ji are your levels that you have posted for today not contradictory to your short position. I mean your range of 24497-24663 would that not make you bullish. In the other thread you are saying it will reach 239xx. How does one trade with such divergent views.

Levels are based on Open price Varunji. First candle itself broke the lower level 24497 by good margin so no question of bullishness at all

 

[varunkochhar]

Manoj ji be ready to be surprised on the upside if we hold 24000/23970.