Aaah.. finally Chartnexus is running again :-D
CMP: 5359
1. EOD Candle has formed a Spinning Top (Semi-Doji for the more flexible non-stringent Candle-man )
2. As expected Nifty went up , & stagnated near 5370 which was the UTL coming down from 5629-5499
3. All EMAs have turned up & Nifty is trading > 20DSMA
4. This move "may be" the IMPULSIVE B.c of Expanded Flat ABC, that I have discussed in my previous post , all MAY BE with EW, so this is just for my wave-surfing fun :-)
SMO SAR VERDICT:
1. 5-10 DEMA Bull X-over has occured with close > 5335. TRIGGERED LONG TRADE on SWING
2. Carry LONGS created from Lifo-Fibbo (opened @ 5238 on Friday > 34EMA, 30mins) , with :
(i) TSL @ 5340 ; or
(ii) wait for 5DEMA to change direction - dy/dx (ruffly if we close @ SMO SAR = 5295)
3. Tgts (or RES ZONES) to 50% Part-book LONGS : 5391 -5414
cheers
SMO
CMP: 5359
1. EOD Candle has formed a Spinning Top (Semi-Doji for the more flexible non-stringent Candle-man )
2. As expected Nifty went up , & stagnated near 5370 which was the UTL coming down from 5629-5499
3. All EMAs have turned up & Nifty is trading > 20DSMA
4. This move "may be" the IMPULSIVE B.c of Expanded Flat ABC, that I have discussed in my previous post , all MAY BE with EW, so this is just for my wave-surfing fun :-)
SMO SAR VERDICT:
1. 5-10 DEMA Bull X-over has occured with close > 5335. TRIGGERED LONG TRADE on SWING
2. Carry LONGS created from Lifo-Fibbo (opened @ 5238 on Friday > 34EMA, 30mins) , with :
(i) TSL @ 5340 ; or
(ii) wait for 5DEMA to change direction - dy/dx (ruffly if we close @ SMO SAR = 5295)
3. Tgts (or RES ZONES) to 50% Part-book LONGS : 5391 -5414
cheers
SMO
This comment has been removed by the author.
ReplyDeletehmm.. market was so beautifully working today. exact resistance levels were seen as per the trendline.
ReplyDeleteI closed all my long at 5366. Thinking if market closes above 5370 convincingly i will initiate longs again..
Love this method of trading now. No more predictions only facts. Thanks for bringing me to this world of trading Shri.!!!
Appreciate it.
now a dip below 5280 will shake u
ReplyDeleteSameer:
ReplyDeleteIf ur here to shake & prove pts, then ur in for the wrong reason .. :-)
Analyse honestly , & once u find a good & REPEATABLE METHOD stick to it !!
SMO SAR works for me, for today level for REVERSAL of SWING LONGS is 5295 EOD basis
cheers
sir i didn't mean to offend u pls forgive me my expectation was based on global cues
DeleteSachin:
ReplyDeleteIf i had listened to u 1 yr back & had stuck to classic TA, we wud have had this conversation many moons back !
Anyways, I dont consider the amout of hard work i invested in EWT as a waste. May be once the eye is trained, we can come bring in the EWT angle again.
Everything has a use somewhere ....
For now , DATA DRIVEN TOOLS like PSAR , JNSAR or SMO SAR are ideal for our MENTALITY & allow us to "SEE PRICE"
Bhaav Bhagwaan che :-)
cheers
Hi Sameer,
ReplyDeleteNo probs... all fine
My firm view:
1. with EWT nothing is sure, ABSOLUTELY NOTHING!
2. With Hi-Lo EMAs also nothing is 100% , but the ODDS for CORRECT ANALYSIS "FOR ME PERSONALLY" get far far better !!
RISK-REWARD is the name of the game my friend & getting the TA right is the first step.
Choosing the right Instrument to trade is the 2nd :-)
cheers
sir extending my presumption wave 1 5135 - 5378 (243=.67 of 5499-5135) wave 2 5378-5195 (.75 of wave 1)
DeleteQuite possible sameer
ReplyDeleteFrankly one cannot evaluate "PROBABILITY" of a developing EW lable, hence i would request you to be careful
I have left the EWT road a long time ago, as far as Analysis goes for working out my SET UPS.
Only use it for ACADEMIC SPECULATION nowdays
cheers