Elliott Wave Theory

[WaveSurfer]

Interest rates moving above 8% is a huge prediction, and your chart shows them touching 9% !!

RBI Rate Chart

Rates have been as high as 14% before .

Remember the trillions of dollars, yen,euros, pounds , rupees printed and let loose to keep asset prices inflated up. Somewhere down the line those printed trillions and zillions will have their effect called Stagflation .

Once crude starts moving up , it will also contribute to inflation.

 

[prabhsingh]

My take on EWT is that it's follower should ask himself a question "Am I making money trading on EWT ? " and he should very honestly answer this question to himself....not to prove to anyone or to post in discussion forums etc.If the answer is "Yes" ,then it is a right method for him but if the answer is "No" then it is not a method for him. Is is a self analysis which is the best analysis.Same applies to any other method too.

Discussions on utility of EWT or otherwise could be endless...and it does not bring out anything.

One can give 2-3 years for studying EWT ,and then if he does not make money, he should look for something else which is more definite.

This is a thread on EWT so let it continue discussing the same without any hinderance.

Smart_trade

Elliot Wave when used accurately provides you an opporunity to start thinking that your wave count might move into right direction.However,proper money management,stop loss and Risk management cant be ignored to mitigate your risk incase wave counts dont behave as per your expectation and this holds true for whatever method person make use of.

I personally feel when used properly,specially with large caps,EW tends to provide you very good opportunities but at same time person cant neglect point of failure as well.At times when EW dont obey your wave count,reaction should be proactive so that loss making counts does not become intensive and capital is saved.

 

[WaveSurfer]

Bank Nifty 1h

Looks like one more leg up is pending to 16507 to complete the ending diagonal.

 

[mudraatrader]

Bank Nifty 1h

Looks like one more leg up is pending to 16507 to complete the ending diagonal.

WaveSurfer bro. Are you sure for this up leg. Then please give counts for this down wave and how low it can move. Thanks

 

[WaveSurfer]

WaveSurfer bro. Are you sure for this up leg. Then please give counts for this down wave and how low it can move. Thanks

Now , i don't feel sure
Either i counted right and market decided to skip one leg or my count seems to be wrong. Was planning to sell the final upmove but if it keeps tanking and goes below 15520 , missed opportunity

 

[gopicbin1]

Now , i don't feel sure
Either i counted right and market decided to skip one leg or my count seems to be wrong. Was planning to sell the final upmove but if it keeps tanking and goes below 15520 , missed opportunity

After seeing daily charts I feel lot of down move yet to come

 

[prabhsingh]

My reading for Nifty is as follows and i would like to keep it simple.

Complete correction that we got from High - 9119 SPOT is a complex correction.First correction was FLAT Correction and then we had Zig Zag Correction.Intervening Wave was X Wave.

What makes me feel that these wave counts are correct is because Fib ratios makes be believe that and if i dont use Fib ratio them then there can be multiple wave counts which can be drawn but we wont get confidence.

Now below is Fib projections for complex correction .Refer to below image of Weekly Nifty chart as well.

1) In first Flat correction,Wave C (7997) happens to be exact 100% fib ratio of Wave A.When we get these kinds of harmony,our confidence grows.

2) In second Zig-Zag correction,Wave C was 138.2% fib ratio of Wave A.What makes be more comfort that its Zig-Zag correction is also that when we zoom into Wave A on daily charts,we can clearly spot 5 Internal Waves.Criteria for Zig Zag is that internal waves should be 5-3-5.

3) Flat and Zig-Zag were separated by Wave X and we can clearly see that Wave X had its own 3 three waves.

Now are we done with Complex correction and new Impulsive wave has started or ongoing uptrend is just Wave X and we can get one more Correction is something time will tell.Whatever is the case we will soon get one round of Correction because if its new Impulsive Wave then we will get Wave 2 very soon.I hope this helps.

Correction which was suppose to happen has started now.Today's bearish engulfing candle confirmed that.Any break below 7570 will drag Nifty comfortable towards 7400-7420 levels.

Caution advised but at logical levels keep on buying your favourite stock some percentage as well as i personally think this is golden opportunity to buy identified favourite stocks.

 

[prabhsingh]

Look at Relcapital in Hourly timeframe.Beautiful 5 Waves have completed and when Fib ratios are applied to individual waves they tie up so well.

Retracement can happen towards 358,347 and 336 levels easily.

 

[mudraatrader]

Now , i don't feel sure
Either i counted right and market decided to skip one leg or my count seems to be wrong. Was planning to sell the final upmove but if it keeps tanking and goes below 15520 , missed opportunity

Well, as per EW counts, do you see any rebound of around 150/200 points from the current LTP (15700) or only a further dip that may extend to 15550/500 or so.

 

[WaveSurfer]

Well, as per EW counts, do you see any rebound of around 150/200 points from the current LTP (15700) or only a further dip that may extend to 15550/500 or so.

Bank Nifty Spot 15 Min