Elliott Wave TA Updates

[ramant]

http://postimage.org/image/1baehvtac/

 

[sujittalukder]

Very informative.
Adding some text for the chart will be very useful.
regards

 

[ramant]

This was text quoted for the chart:
http://postimage.org/image/1baehvtac/

If C up wave was finished below 5600 then downside can be more.
Target1: 5380
Target2: 5330+ depending upon wave formations....
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If this old text is not sufficient then i can add more words!
WAVE A FRM 5944 TO 5330
WAVE B FRM 5330 TO 5555 (APPROX) WHERE a ended @ 5595, b ended @ 5480 & c wave ended @ 5555

Now, i m counting wave C....It was not much c up (B wave completion) without use of channels.
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Ramki saying 4800
Rohit frm sharekhan saying 4800+ another recession
Eliottwaveindia saying no more downside (FLAT @ SPOT).

Best is to stay with THE TREND & channels....

I can write full book here::: but the problem is the view itself.
One theory & different views.
So, how is this possible...

Recommendation:
Follow this blog: http://tradeinniftyonly.blogspot.com/
Ilango daily commentary is far good + Elliott wave updates!!!

 

[ramant]

Very informative.
Adding some text for the chart will be very useful.
regards

chk new post!!!

 

[sujittalukder]

thanks
regards

 

[SCION]

Can you explain your 5th of C wave up.

http://postimage.org/image/1baehvtac/

 

[ramant]

Can you explain your 5th of C wave up.

SURE!!!
c wave up is part of WAVE B which is sub-divided into 3 parts (a,b,c)
c wave up ends @ 5556 & its marked in pink @ right side...
It is a five wave structure formed @ 8 june.
SHORT-TERM MARKING R THERE @ GRAPH!

5th of C wave is not easy to express without use of channels.
For this structure, i m watching ending diagonal like move (2+2+2+2+2).
This initial c wave was not formed in good env as -ve opening & then up day. This remindes the 5th wave of leading diagonal which occured in march.

There r times when 5th wave can't cross the 3rd wave & u can call this an orthodox ending or a failure which may not be the case.
I can remember views presented by ilango saying c up wave is pending but now ilango is not expecting any c up wave acc. to new charts.

Rest, This was formed @ Narrow Range 4 day along with channel breakout.
As initial channel breakout was there so range breakout was expected @ next day but range was broken on NR 6th day.

This count is best acc. to my knowledge but many elliticians r counting this in different manner. I repeat, many elliticians r watching this all this diff. move. Minimum shortterm downside: 5380 to 5350.


VARIABLE COUNT: A OF ZIG-ZAG IS .64 OR 1 IF C = 1 (FOR DOWNSIDE!)
VARIABLE COUNT: C OF ZIG-ZAG IS .64 OR LESS IF A = 1 (FOR UPSIDE!)
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I think, this is more than enough. This was my best initial count is time is proving that. If u r watching something else in this count then let me know.
WHAT'S UR alternate WAVE COUNT?

 

[SCION]

Thanks for taking the time and explaining in detail.I dont trade on ewt anymore,perhaps was a mistake.This is what i could see...
All the best.

I think, this is more than enough. This was my best initial count is time is proving that. If u r watching something else in this count then let me know.
WHAT'S UR alternate WAVE COUNT?

 

[ramant]

Your count is equally good so u can take my count as alternate count...
May be ur count is more vaild which time will tell us.
But the process of learning never stops...

I m counting gap down @ 2/6/11 as a wave i.e. no five wave structure was there + this gap down happened as per my expectations i.e. 5 wave up count for A wave (5600) was completed before acc. to channels....then c wave (zigzag) of B wave was 1.6 times than a wave which was my exit. Then again shorted after break of channels.
I m in profit acc. to this count & i can manage to loose all profits now.

One more thing is the alligator & the moving avg price channel tech system which r pointing downward so its not possible to bet @ longs (v-short-term) rather one can wait for more clarity.

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What r the primary indicators u do refer before entering a trade?

 

[ramant]

Thanks for taking the time and explaining in detail.I dont trade on ewt anymore,perhaps was a mistake.This is what i could see...
All the best.

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What r the primary indicators u do refer before entering any trade?