Wolfe Wave

[sunny_cool]

Wow Adi....just 5 mins before I was talking to Eagle bhai abt the same script.....but i didn't notice WW in it....thanks for pointing....

Hindalco - Weekly:

If someone wants to take this trade.... have some patience... don't rush.... It has big resistance between 122-123..... Either take a trade on retracement or on break of this resistance.... Anyways, keep one eye on Nifty to trade this setup....

Even I am not sure if I am going to take this trade!!!!!!

 

[Arjun20]

Yes, Arjun point 1 is also one of the reason & the other is lack of symmetry...if u will try to join point 2 & 4...it will be intersecting 1,3,5 very near to point 5

Basically WW is based on law of physics to get equilibrium price....thats why we need good symmetry

Sunny , in case of gap up openings, it becomes difficult to get proper point 1. At such situations if all other conditions met, u can very well consider an imaginary point below 2 on horizontal line at 3.

Yes, it does not have Text book perfect symmetry, but other studies were also supportive to bullish set up.

Hope i am clear

 

[prst]

Wow Adi....just 5 mins before I was talking to Eagle bhai abt the same script.....but i didn't notice WW in it....thanks for pointing....

i entered into it last week, around 117 levels.
not sure as to when to exit.. will hold on , since its small position.

 

[sunny_cool]

@Arjun I am not opposing u or discouraging you....But Imagination is a word that should not be used in trading...

Symmetry thing will be clear to you after you will try to join point 2 & 4 & extend this line to get the intersection point on line 1,3,5....Intersection point of these two lines gives the target on 1,4 line... Tryto draw this & I hope it will be clear to you

One more thing I am also a learner like u.....if your gap imagination thing works...it wil b good & can b good invention for u

Sunny , in case of gap up openings, it becomes difficult to get proper point 1. At such situations if all other conditions met, u can very well consider an imaginary point below 2 on horizontal line at 3.

Yes, it does not have Text book perfect symmetry, but other studies were also supportive to bullish set up.

Hope i am clear

 

[Arjun20]

@Arjun I am not opposing u or discouraging you....But Imagination is a word that should not be used in trading...

Symmetry thing will be clear to you after you will try to join point 2 & 4 & extend this line to get the intersection point on line 1,3,5....Intersection point of these two lines gives the target on 1,4 line... Tryto draw this & I hope it will be clear to you

One more thing I am also a learner like u.....if your gap imagination thing works...it wil b good & can b good invention for u

Sunny, it's not my invention. I just illustrated, the way founder of pattern advised to trade in gap ups if probable set up.
Today point 3 was unable to cross point 1. It made me alert and then just see volumes at point 5.That's it
TP also posted guidelines for gap ups in Uttamji's thread.

And i don't ever perceive it as opposition. AFterall healthy discussions lead to better understanding :thumb:

 

[EagleOne]

Sunny & Adi bhai, hindalco abhi dekha. 115 ki pinbar nahin fodta toh 122 ki resistance ek jhatke mein saaf, aur gaya 20-30 point ooper! And, adi bhai, not only nifty, one has to keep one 'chakshu' on copper prices also while trading hindalco.

Sunny bhai, Arjun's imaginary point in gap situations is a valid arguement. Kamlesh and I discussed this once in a PM exchange. If you read bill wolfe, you'd see he devoted a few paragraphs on this scenerio. However, it is bit dicey. Works more in bearish WW than bulish, in my experience.

 

[prabhsingh]

Hindalco - Weekly:

If someone wants to take this trade.... have some patience... don't rush.... It has big resistance between 122-123..... Either take a trade on retracement or on break of this resistance.... Anyways, keep one eye on Nifty to trade this setup....

Even I am not sure if I am going to take this trade!!!!!!

If Hindlaco breaks down its resistance level which is in between (122-123),will that be fare to say that 131 will become next resistance level?

 

[aayush_123]

SBIN WW on 4 hr rather than EOD to make it clear ..... But we need to wait for confirmation to be Bearish WW....Good call @ayush

how do u confirm its a WW or not???

and secondly, WW has a certain characteristick, it consolidates at 5, then goes like mad towards 1-4 EPA.


hope everyone gets what i mean.

 

[adityasaraf007]

If Hindlaco breaks down its resistance level which is in between (122-123),will that be fare to say that 131 will become next resistance level?

Hopefully, you have read EagleOne's reply above.... Yup, it could face some resistance around 131 (don't expect to be stiff though) and then around the line connecting points 2 and 4....

 

[sunny_cool]

Thanks Arjun & Eagle bhai for enlighting me on this point... will keep eye on this in future to learn better

Arjun I felt so...thats why I wrote it....it was always healthy discussion :thumb:

Or ye TP bhai koi thread chodta hai ke nahin

Nice to see you posting here Eagle & Adi

Sunny, it's not my invention. I just illustrated, the way founder of pattern advised to trade in gap ups if probable set up.
Today point 3 was unable to cross point 1. It made me alert and then just see volumes at point 5.That's it
TP also posted guidelines for gap ups in Uttamji's thread.

And i don't ever perceive it as opposition. AFterall healthy discussions lead to better understanding :thumb:

Sunny & Adi bhai, hindalco abhi dekha. 115 ki pinbar nahin fodta toh 122 ki resistance ek jhatke mein saaf, aur gaya 20-30 point ooper! And, adi bhai, not only nifty, one has to keep one 'chakshu' on copper prices also while trading hindalco.

Sunny bhai, Arjun's imaginary point in gap situations is a valid arguement. Kamlesh and I discussed this once in a PM exchange. If you read bill wolfe, you'd see he devoted a few paragraphs on this scenerio. However, it is bit dicey. Works more in bearish WW than bulish, in my experience.