Nifty Futures Trading Part 2 (Positional)

[satyamsit]

satyam can u post ur todays chart ? i have few things in mind will post mine ...

Bhaiya give me 30 mins.. i m coming up with that.

 

[orderflow13]

Bhaiya give me 30 mins.. i m coming up with that.

i will wait for sure .. meanwhile will try to post my chart with query

 

[orderflow13]

By alex_laxya

two qs.
1) on above chart what is that small retrace in 1st wave ? or i draw 1st wave incorrectly ?
2) on every bottom of elliot retrace waves such as 2,4 there seems blue impulse bars in plenty, can we get a early reversal signals using correctly plotting elliot and using macd ? ( blue bars are avtar of advance macd..used ema,histrogram,sma,jma ..)along with macd ribbon on bottom? as every reversal weekly ema turn green ( top ribbon )

 

[satyamsit]

from first chart (hourly) days range is 3075-2833 (in worst case scenario we can fall up to 2833 for tomm). above 3075 it will tgt 3133/3159.

we have broken down that level convincingly. for any good to continue it has to close above 3015.... which was a very very impotant level for today also..giving todays intra chart below to show how 3015 played a pivotal role...as well one can go to page number 409/410/411 to see the fibonacci calculation of 3015.

 

[satyamsit]

As seen on the minute chart we have broken out of a parallel channel, it can be said there shud one a-b-c movement in the morning which can extend upto 61.8% of previous move thats 3093.40-2907 which is coming at 3021... so indeed 3015-20 is going to be very crucial for the day.
but finer levels can be achieved when we will get first dip after the current upmove (that wud be wave b), so we can project those fibonacci extensions.

from 30/hourly clsing chart..tomm we shud not close below 2870 in any case...otherwise fall will be more steeper in coming sessions.

 

[satyamsit]

By alex_laxya

two qs.
1) on above chart what is that small retrace in 1st wave ? or i draw 1st wave incorrectly ?
2) on every bottom of elliot retrace waves such as 2,4 there seems blue impulse bars in plenty, can we get a early reversal signals using correctly plotting elliot and using macd ? ( blue bars are avtar of advance macd..used ema,histrogram,sma,jma ..)along with macd ribbon on bottom? as every reversal weekly ema turn green ( top ribbon )

1)Bhaiya if we consider the major trend which has been started from the 6336 top in jan, ur wave count is absolutely right in any case, but i personally do curtail these waves into sub-waves for the ease of my calculations (as we are getting a major down trend, we will always get smaller moves to deal with). but ur count is absolutely OK. for projection i'll prefer smaller to go with as smaller one also proving to be quite big. (5271-3761) and now (4654-????) and so on.

2)bhaiya if we can count our waves in a proper manner and project those levels and then start to seek for those reversal patterns , i guess it will be doubly confirmatory.
as i hv not tested , i m unable to tell the technical way...but logically its very much possible.
thank you.

 

[orderflow13]

1)Bhaiya if we consider the major trend which has been started from the 6336 top in jan, ur wave count is absolutely right in any case, but i personally do curtail these waves into sub-waves for the ease of my calculations (as we are getting a major down trend, we will always get smaller moves to deal with). but ur count is absolutely OK. for projection i'll prefer smaller to go with as smaller one also proving to be quite big. (5271-3761) and now (4654-????) and so on.

2)bhaiya if we can count our waves in a proper manner and project those levels and then start to seek for those reversal patterns , i guess it will be doubly confirmatory.
as i hv not tested , i m unable to tell the technical way...but logically its very much possible.
thank you.

thanks satyam, we will keep watch on it till we get perfect . by then i will trade with small quantity. plz go on ur fev search engine ( ) and type bill williams. so after that we will work on our method collectively.

 

[cheeku]

Sat Da is pensive mood.

Cheer up friends it is not the nature of Sat Da to take such tiny things to heart. He is just taking time to collect new weapons to counter Bulls.

 

[Czar]

L2T : was this a weekly wolfe ???

PS: SAtda Rukh jaa o jaanewale rukh jaa, mein to raahi teri manzil ka, Nazro mein teri bure saahi Aadmi (aurat) buraa nahi hum dil ke, please Satda Maufi Saabji...

 

[uasish]

Satyajit is a warm hearted perfect gentleman,i love his cute highly intelligent son.
He believes in his Chart Reading ONLY by Trend Lines & the Methodology is also described so can be implemented by any one interested ,quite easily.
This he is following for few yrs now.
His honesty to his chart compels him to mention few Levels ,which may seem absurd in today's context,(i have gulped with a heavy lump of anger in my throat when he mentioned in 1 post that i should Buy RIL @ 0.10 with a Stop of 0.00 ).

Now in this heavy emotive atmosphere ,where we have seen with heavy heart few traders suiciding ,& most of us are in huge capital erosion ,a bare fact ,as Satyajit sees in his chart say 900 level for Nifty,when posted by him STRIKES heavily.
We tend to find him to be the CULPRIT,becoz of this thread's LOUDness.

Hope Satyajit returns to his full form,otherwise how can i post my similey (when Nifty comes back to normalcy) to counter the Giraffe one he posted.