Elliott wave update for Sensex

Hello friends,

i wont bore you wit hjust words, please see the three charts and it will be done!!!!!

See: main 5 wave structure started from 2003.

See: the main corrective Leg A in process after main 5 wave completion.

See: internal structure of this Leg A

See: the monthly support line which indicates Leg A could possibly terminate at 10900 to 11100 within April.

From Monday wave 3 of corrective Leg A could begin as RBI concerns over inflation and would make money more costlier.

Any comments welcome,

Regards,
Winston

Nice work Winston!

ss

hi Sunil,

thanxs for the words,

people please note that the Main Leg A would get over on 5 wave completion and this indicates the start of Main Leg B ( upward corrective with 3 waves ), then Main C corrective ( 5 wave ).

These Main waves i.e. Leg A , Leg B , Leg C could consume entire 2007.

*nite: in the chart of Leg A internal, then Markings in the capital A, B , C are for 5 wave counts and still C , D, E would develope for completion of Main Leg A.

Regards,
Winston

##############

Hi Tape,

Elliott waves when tried on intraday can be worst!!!!!

Due to limited time for analysis , you could end up doining wrong things most of the time since elliott waves are highly subjective.

Ok, here is wht i have a method for intraday elliott wave trading and it is one of the most profitable method. I have also attached the chart for Nifty 10 min :

1) mostly Head and Shoulder pattern is associated with wave 3 ending onwards. This is not a rule !!!!!

2) So , the trick is whenever you screen H & S pattern , also look the previous move and see if the move had wave 1 , 2, 3, 4, 5 impulsive pattern.
+ H$S at top.

3) Just dont enter on break of neckline , let there be first break , and then 2nd attack on neckline.

4) your target is anywhere from peak of wave 1 to trough of wave 4.

oppo for inverse H$S.

regards,
winston

$$$$$$$$$$$$$$$$$$$$$

hi tape

how often your stop is hit????? when u trade on ticks

$$$$$$$$$$$$$$$$$$$$$$

Great thread winstonn...
Nice explanation.

Question on icharts.in:

How did u plot the 10min nifty data using icharts.in. I am only able to see the daily and weekly as options.
Is it some other paid service or u have clubbed the icharts with some other software?