Continuing with our two Probabilities:
Probability 1 :
Ya=5342-4789=553
Yb=4789-5020=231
Yc in play. To do minimum 0.62*Ya=343=4677
.png)
Probability 2:
Ya=5342-4789=553
Yb=in play as a Flat wherein
YbA=4789-5020=231 as 3 wave form
YbB can retrace upto 138% i.e upto 4701 as a 3 wave form of which
(a)=5020-4770=250
(b)=4770-4858* in play and can go upto 4970
(c) to follow
.png)
And this is another significance of current upmove.
If it goes above 4947 Probability 1 will become invalid.
EW COUNT,Momentum & Trendlines:
I have been trying to co-relate the three and have found out over last three months that trades initiated whenever the three are in sync give fantastic results. There have been times when I have to wait till 1.00PM to initiate trade but the results have been phenomenally good.
In current context, the upmove from 4770 has to be a 3 wave form-- call it a b c --- and let me illustrate the above co-relation: While Hour chart would help us trace EW counts of the full retracement abc in following manner:
.png)
For fine-tuning the lower degree a b c individually, one can shift to 5 min charts:
.png)
11.30 AM
a=4770-4893=123
b=4893 downwards
Various supports indicated
.png)
1.15 PM
Nifty found support at day's low.
.png)
2.16 PM
Time to cover shorts
.png)
However,I wd advise going long only above 4882
3.20 PM
They are deliberately not showing their hand and keeping both options ope:
Either a gap-down opening and climbing up during the day;
Or a gap up opening.
A tick above 4881.65 would be a give-away as that would mean that retracement of 4770-4898 is over at 4848.
.png)
Probability 1 :
Ya=5342-4789=553
Yb=4789-5020=231
Yc in play. To do minimum 0.62*Ya=343=4677
.png)
Probability 2:
Ya=5342-4789=553
Yb=in play as a Flat wherein
YbA=4789-5020=231 as 3 wave form
YbB can retrace upto 138% i.e upto 4701 as a 3 wave form of which
(a)=5020-4770=250
(b)=4770-4858* in play and can go upto 4970
(c) to follow
.png)
And this is another significance of current upmove.
If it goes above 4947 Probability 1 will become invalid.
EW COUNT,Momentum & Trendlines:
I have been trying to co-relate the three and have found out over last three months that trades initiated whenever the three are in sync give fantastic results. There have been times when I have to wait till 1.00PM to initiate trade but the results have been phenomenally good.
In current context, the upmove from 4770 has to be a 3 wave form-- call it a b c --- and let me illustrate the above co-relation: While Hour chart would help us trace EW counts of the full retracement abc in following manner:
.png)
For fine-tuning the lower degree a b c individually, one can shift to 5 min charts:
.png)
11.30 AM
a=4770-4893=123
b=4893 downwards
Various supports indicated
.png)
1.15 PM
Nifty found support at day's low.
.png)
Time to cover shorts
.png)
3.20 PM
They are deliberately not showing their hand and keeping both options ope:
Either a gap-down opening and climbing up during the day;
Or a gap up opening.
A tick above 4881.65 would be a give-away as that would mean that retracement of 4770-4898 is over at 4848.
.png)
Respected Raghuvanshi ji
ReplyDeleteMy sincere request to put labels on the 5 min. charts about the likely resistance shown by upper trendline.
I do not have access to charts right now.
Warm Regards.
Pl donot trade without charts.
DeleteTrendline shown are indicative---meant to act as guides--drawing these with precision is an art which,sadly,I am not very good at.
Sir i never trade with out charts, but right now my software crashed that's why i was asking the level. Thank you.
ReplyDeleteRaghu sir I shorted NF at 4800 & today at 4866. Should time come to book Loss?
ReplyDeleteDear Prakash,
ReplyDeleteYesterday also I had told you that I see Nifty oscillating in 4950-4750 range.
I see it dipping to 4850 levels intra-day today.
Pl make proper trade set ups and only then initiate trades.
Raghu sir ,
ReplyDeletethanx for reply, I m eagerly waiting for 4850 to cut my losses
Raghu Sir!
ReplyDeleteI booked longs at 4895, thanx for ur support. Can v go short here or not?
Dear Mukesh,
DeleteIt is an educational blog not tips-blog.
Pl donot ask these questions as a trade needs very close management which obviously only you can do---
You are taking wrong sir, i am not expecting any tips from you. Actually you suggested a downward B wave so i want to confirm you before action. Your last suggestion gave me good profit & i am thankful to you for that sir. If you are not comfortable in shorts rightnow then i will wait for ur signal sir.
ReplyDeleteSir,
ReplyDeleteI covered my shorts. Is it time to go long
Sorry sir , I have not read ur last line I got my answer
ReplyDeleteSir
ReplyDeleteI think 3 wave correction over at 4848
next upmove should target 4945 by 2morrow
A tick above 4881.65 would confirm that.
DeleteDonot hurry--
thanks for the guidance sir
Delete