Nifty Futures Trading Part 2 (Positional)

[rishig38]

900 points plus...almost 11% now...cant wait for our opening tomorrow...

 

[rishig38]

ya but I believe most of this rally has already been discounted by Asia, let's see tomorrow morning. We need a pullback on the daily atleast before going further..

yeah but I dont think we discounted a 11% rally....this is nuts...but either way, we trade according to our line...

 

[Czar]

Man dow up 970 pts

Read this in wiki: Wave 4: Wave four is typically clearly corrective. Prices may meander sideways for an extended period, and wave four typically retraces less than 38.2% of wave three. Volume is well below than that of wave three. This is a good place to buy a pull back if you understand the potential ahead for wave 5. Still, the most distinguishing feature of fourth waves is that they often prove very difficult to count.

& remember in bear market the reverse applies so good place to sell I guess somewhere up the line..

but then we are correcting the wave 3 now in this uptrend right so 4 fall will come later... am i right, confused

Also Alex do you know anything about super cycle ? if so was'nt this our 3rd ?

 

[mitasatyajit]

If we want to follow dow, 3490 + 349(10%) = 3839 market will be closed for an hour.

15% 4013.5 (after 1 hour when market opens) - no it is not possible resistance is at 3965.

 

[learn2trade08]

my bet lies on 3800,worst case scenario or rather best case scenario...talking of a gap up....

 

[orderflow13]

Man dow up 970 pts



Also Alex do you know anything about super cycle ? if so was'nt this our 3rd ?

lol ... i remember once i asked my behavioral finance teacher about this grand elliot cycle ( trying to be smart with obvious reasons with one eye on gals ) he said .. dont bother.... to complete those elliot grand cycles needs your two life spans and 3 if u r a drinker !!
i still remember word 2 word

 

[Czar]

Comeon SatDa - please just once give me a upper circuit, please please please

Here's a little something for u (Czar bribe SatDa)

 

[satyamsit]

"A correction of 38% is the minimum that can be expected after a completed 5 wave swing. Most of the, a 50% correction is more likely." Fibonacci application and strategies for traders- Robert Fischer; page 39.

 

[xtalk]

just woke up....i think tomorrow/this wk we'll reach 4600 and 6350 by next month. Boy! Oh Boy! $4 trillion pumped into the market!!!

BUT CDS worth of $60T is in trouble

 

[Czar]

Very nice SatyamSit but now please explain in layman terms for us illiterates