Nifty Entry ,Exit ,Target levels with Median Line Charts Part 2

[Kavima]

25.01.2013 Friday

 

[paras_123]

today intraday resistance, 6140.... support stands at 72,,,,
6120 fib retracement zone, trading below 74 is bad and one should short
any1 holding long, should keep SL at 72, after that we may test 61 and 50 levels.

 

[Kavima]

28.01.2013 Monday

Today's intraday trade
Short at 6080 closed at 6067

Intraday Trade levels for 29th

Short at test of 6083 and breakdown for target 6055
Long at 6055-6045

 

[NANDAMAD]

Is there a typo in the description in blue letters. For 6050 and 6045, it seems
5050 and 5045 appears. Please correct me if I am wrong.

 

[Kavima]

Is there a typo in the description in blue letters. For 6050 and 6045, it seems
5050 and 5045 appears. Please correct me if I am wrong.

Yes..it is a typo......It should be 6050-6045......!

 

[paras_123]

today intraday resistance, 6140.... support stands at 72,,,,
6120 fib retracement zone, trading below 74 is bad and one should short
any1 holding long, should keep SL at 72, after that we may test 61 and 50 levels.

61 TESTED..

Kavima,,, if logic of 50 remains as a support, we may open 71.5 - 77 levels

 

[Kavima]

29.01.2013 Tuesday

Magic of median lines.!!...The median lines and channel trendlines gave perfect levels for support and resistance.However trading them with confidence is the key.........Seeing the second test of the support , was not swift enough to enter the longs + broker screen was not opening due to overload ?? so could not enter....the move was too fast to enter later...At the third test closer to the support / confluence zone, though price was hovering in a range for a few bars,have entered long at this zone.

 

[paras_123]

Kavima,

Could you see any trend reversal in the graph has formed, where you could take buy and sell targets?
you prefer 1 2 3 4 5 wave analysis, so how would you see a trend reversal?
how would you enter looking at graph. and also looking at Fib retracement and reversal for the same?

 

[Kavima]

Kavima,

Could you see any trend reversal in the graph has formed, where you could take buy and sell targets?
you prefer 1 2 3 4 5 wave analysis, so how would you see a trend reversal?
how would you enter looking at graph. and also looking at Fib retracement and reversal for the same?

my interpretation - looking at graph is - sideways.....

Not able to post the chart today.However seeing today's move which is within yesterday's range,the probable range for tomorrow - support around 6030 and upper resistance at 6090.Expiry volatility is still unpredictable to me,it may again be a low key day and take off to resistance zone on Friday once Jan series is over ..Let's watch..!!

 

[paras_123]

Kavima,
Could you see any trend reversal in the graph has formed, where you could take buy and sell targets?
you prefer 1 2 3 4 5 wave analysis, so how would you see a trend reversal?
how would you enter looking at graph. and also looking at Fib retracement and reversal for the same?

No-No not about today.....

Explaining reversals in 5 wave analysis

Now example, when wave analysis, acc to Martin Pring wave anaysis, when markets makes a move up in wave analysis and not clear current high and made a low between 2 and 4 and cuts it consider again, without violating the current high, makes a reversal.... stands pretty good in most charts i have seen in last 3 years. more than 90 - 95%% accuracy stands here.

Q1. so what else. have you added, such if any or any reversal in your system, considering wave analysis?

Q2. also considering Fib levels?

It took me a 4 weeks to understand your method. and as you predict possible targets, channels and wave prediction. still looking for answers according to your swing high and Fib retracement levels, reversals, entrance?

ST has given his trend analysis, good but Not happy!:thumb:

Highly appreciate!
May be you should start with lesson 1 and lesson 2 and so on about your system....


I ll be happy to be your student
Cheers!