Nifty Intraday Pivot Points
- Thread starter SavantGarde
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Wow! I was telling them in the chat room that 5342 was R, and that was the exact peak for the day.
Key hurdles for Nifty to get around on Monday is 5377 (Sound familiar?), and we need a daily close above 5415 in order to confirm we are back in the UP. Afterward, we would have the makings of a 1-2-3 between the dip at 5171, the peak at 5584, and the last dip at 5228. That recent dip needs to hold while getting a daily close above 5415, and then 5687 becomes an easy target.
Another thing for sure, and that is we need a stronger bull candle on Monday in order to break the sideways pattern.
Key hurdles for Nifty to get around on Monday is 5377 (Sound familiar?), and we need a daily close above 5415 in order to confirm we are back in the UP. Afterward, we would have the makings of a 1-2-3 between the dip at 5171, the peak at 5584, and the last dip at 5228. That recent dip needs to hold while getting a daily close above 5415, and then 5687 becomes an easy target.
Another thing for sure, and that is we need a stronger bull candle on Monday in order to break the sideways pattern.
Your weekly levels were....
5676, 5579, 5520,<< NF>>5403, 5344, 5247
Yesterday it made a low below the last support of 5247 to 5232 , though for a couple of minutes or so and bounced back with a bull candle. Kudos.
With 5377 being the major resistance and yesterday low being a major support,as per your system, let us have rest of the scenario for the week ahead.
5676, 5579, 5520,<< NF>>5403, 5344, 5247
Yesterday it made a low below the last support of 5247 to 5232 , though for a couple of minutes or so and bounced back with a bull candle. Kudos.
With 5377 being the major resistance and yesterday low being a major support,as per your system, let us have rest of the scenario for the week ahead.
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Thank-you, Lancer.
I'm glad you keep tabs on them that way. I tell people to not take my word for it, but check them out for yourself or even plot them on your chart. You know the old saying, "Actions speak louder than words." LOL, I speak a lot of words, so my actions need to do a lot of talking.
As always, I will post the weeklies around 3:30 am GMT--Monday. I will post the monthlies during the beginning of the Tokyo session on the 1st, which is Tuesday.
I'm glad you keep tabs on them that way. I tell people to not take my word for it, but check them out for yourself or even plot them on your chart. You know the old saying, "Actions speak louder than words." LOL, I speak a lot of words, so my actions need to do a lot of talking.
As always, I will post the weeklies around 3:30 am GMT--Monday. I will post the monthlies during the beginning of the Tokyo session on the 1st, which is Tuesday.
Here's the weekly S&R's:
5634, 5493, 5408, 5237, 5152, 5011
I'll give an update later, but with respect to the S&R's, this is what we can probably expect this week. Considering the top of the weekly cloud is 5272, and only spikes are allowed into, you could expect for price to drop no lower than the WS1 at 5237. As far as a map is concerned for my S&R's it is expected about 70% of the time you will get an average movement of 3 spots, which means if WS1 is hit, it is probable the WR2 will be hit at 5493. If WS1 is not hit, then there is even a stronger probability 5493 will be hit. There is still too much R in the way to expect the WR3 to be hit. 3's getting hit means a strong trend for that TF. That is not expected this week because of all of the R. Picture it as running better on flat land than you can in the snow.
BTW, I did say in the other post I would wait until 3:30 AM GMT Monday to post my S&R's. I forgot my software does not plot them right on this demo, so I did it the old-fashion way. The S&R's for this market will actually be available as soon as the close hits for the week, not that I would post them right then.
5634, 5493, 5408, 5237, 5152, 5011
I'll give an update later, but with respect to the S&R's, this is what we can probably expect this week. Considering the top of the weekly cloud is 5272, and only spikes are allowed into, you could expect for price to drop no lower than the WS1 at 5237. As far as a map is concerned for my S&R's it is expected about 70% of the time you will get an average movement of 3 spots, which means if WS1 is hit, it is probable the WR2 will be hit at 5493. If WS1 is not hit, then there is even a stronger probability 5493 will be hit. There is still too much R in the way to expect the WR3 to be hit. 3's getting hit means a strong trend for that TF. That is not expected this week because of all of the R. Picture it as running better on flat land than you can in the snow.
BTW, I did say in the other post I would wait until 3:30 AM GMT Monday to post my S&R's. I forgot my software does not plot them right on this demo, so I did it the old-fashion way. The S&R's for this market will actually be available as soon as the close hits for the week, not that I would post them right then.
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The predicted sideways motion of the market has happened. This market is now getting the squeeze put on it. The market is beginning the week near the top of the weekly cloud at 5272, and the upwards correction has not been concluded. Therefore, it would seem to be easy, It now goes flying up to the 5687 corrective target, and then back in the DOWN towards 4900 and below. Wrong!
This is because there is tremendous R the market still has to battle through, and momentum on the lower TF's is still against it. The weekly show a clear path to 5687. The daily does too, but it is trying to regain momentum. The 4-hour still has the tenken at 5377 to deal with, and then the bottom of the cloud, currently at 5488 to deal with. Once we get the candle to finish above that point, the move to 5687 could go fast. There is room for a spike into the cloud, so containment on the downside should be the WS1 at 5237, and the upside should be the cluster event between the 4-hour cloud and the WR2 at 5493.
This is because there is tremendous R the market still has to battle through, and momentum on the lower TF's is still against it. The weekly show a clear path to 5687. The daily does too, but it is trying to regain momentum. The 4-hour still has the tenken at 5377 to deal with, and then the bottom of the cloud, currently at 5488 to deal with. Once we get the candle to finish above that point, the move to 5687 could go fast. There is room for a spike into the cloud, so containment on the downside should be the WS1 at 5237, and the upside should be the cluster event between the 4-hour cloud and the WR2 at 5493.
Hi Blackpearl,
First, welcome to Traderji. We hope to see you as a permanent member.
This thread is not devoted to learning an indicator. There are a couple of really nice threads that are devoted to learning the ichimoku, and I also highly recommend. Every once in awhile I do post a chart, because of a particular need or emphasis of a point, which I was planning on doing in my next post.
When I started learning the ichimoku, along with the other aspects of my methodology, it all came together through a collaboration of ideas. If someone made a reference to the ichimoku, I would plot it on my own chart to see if I could see the same thing they saw. Afterward, I began incorporating my own ideas with what I saw. Also, keep in mind that I do not use the ichimoku as a standalone. I have one of the strangest methodologies I have ever seen, but you will notice it is highly effective in calling market moves and rhythms. I'm saying that because it does not revolve solely around the ichimoku, even though I love the indicator, and it is the cornerstone of my method of trading.
First, welcome to Traderji. We hope to see you as a permanent member.
This thread is not devoted to learning an indicator. There are a couple of really nice threads that are devoted to learning the ichimoku, and I also highly recommend. Every once in awhile I do post a chart, because of a particular need or emphasis of a point, which I was planning on doing in my next post.
When I started learning the ichimoku, along with the other aspects of my methodology, it all came together through a collaboration of ideas. If someone made a reference to the ichimoku, I would plot it on my own chart to see if I could see the same thing they saw. Afterward, I began incorporating my own ideas with what I saw. Also, keep in mind that I do not use the ichimoku as a standalone. I have one of the strangest methodologies I have ever seen, but you will notice it is highly effective in calling market moves and rhythms. I'm saying that because it does not revolve solely around the ichimoku, even though I love the indicator, and it is the cornerstone of my method of trading.
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