Nifty Futures Trading

aca_trader · #**1281** 10th March 2008, 07:05 PM

Quote:

Originally Posted by Saint

Ah,....now "big" is a relative term,my friend.

Saint

Depends upon the no. of "G" in as in Big & Biggggggggggggggg.

aca_trader · #**1282** 10th March 2008, 07:09 PM

Quote:

Originally Posted by Ajax

Hi Ashish...

There is lack of symmetry in your set up.. so very important for wolf setup. If you calculate fib ratios for different points - u get the true picture.

Did u see ur own chart redrawn by me and attached to the post.
Just look @ the symmetry & then the result....

regards....

Ajax

Got It! The distance between 1-3 & 3-5.

Thanks once again!
-Ashish

kuriako · #**1283** 10th March 2008, 07:35 PM

Sorry to indulge in the serious discussion...

Got a mad view(or preview episode)

Dont know about the pattern or its repetition... Just posting as a fancy PIC

Ajax · #**1284** 10th March 2008, 10:03 PM

Quote:

Originally Posted by aca_trader

Got It! The distance between 1-3 & 3-5.

Thanks once again!
-Ashish

U got it right. 1-3 & 3-5 have to be symmetrical.
Idially all corresponding legs need to be i.e. 1-2 & 3-4, 2-3 & 4-5.
Wolf up & down happen regularly in Nifty in all time frames.
Will post here whenever I see one.

regards

Ajax

kkseal · #**1285** 10th March 2008, 10:04 PM

This symmetry part in WWs is i think a bit oversimplified & misunderstood. Symmetry ought to be seen in the context of

i) what precedes the pattern
ii) how the pattern itself is positioned viz a viz the price flow/trend

If alongside we have symmetry within the pattern wrt time & retracements then all the better, but that's not the only aspect. The entire pattern setup is based on a transition from asymmetry to symmetry & as such necessitates a more holistic view.

Wolfe himself purposely keeps the symmetry aspect a little (actually gives a small & the most insignificant piece) vague as that is his usp.

Regards,
Kalyan.

P.S. At the Wolfe website it says the best results are obtained when W4 tries to revisit the price range of W1-2. Now this would disrupt the symmetry (within pattern) a bit but think what it means from the point of view of reversal-to-symmetry (doesn't it signify an early attempt? Also, logically, the volume pattern in the case of such a retest ought to be the reverse of a dbl top)

Cactus · #**1286** 10th March 2008, 10:04 PM

Saint,

This is what I rarely heared from some one.
........great.

Regards.

Quote:

Originally Posted by Saint

The hourly downtrend continues........the previous pivot high on NF now at 4749,the break of which signals a change in trend.

For those who caught this mini-move up.....great going!

Saint

adilsaleem · #**1287** 10th March 2008, 10:23 PM

The trendline is broken in the hourly chart and we closed above the previous pivot high. Fib levels that we could look at are 4909 and 4994. To the downside todays pivot of 4745 would be a good level to watch.

Saint · #**1288** 10th March 2008, 10:37 PM

Quote:

Originally Posted by aca_trader

Depends upon the no. of "G" in as in Big & Biggggggggggggggg.

Saint

Saint · #**1289** 10th March 2008, 10:42 PM

Quote:

Originally Posted by Cactus

Saint,

This is what I rarely heared from some one.
........great.

Regards.

60min now breaking previous pivot highs....... a big gap down tomorrow nullifies everything.If that does not happen,we have a 60min uptrend,Daily and weekly charts still in a downtrend.

Which means we're thinking to buy decines if the start is around today's closing price.

Saint

ps:Thx 4 the kind words,Cactus!

milind · #**1290** 11th March 2008, 12:01 AM

Quote:

a big gap down tomorrow nullifies everything

Not much confidence from american market - down 1.2-1.75% in 3 primary indices. Materials, hot for some time, has taken quite a beating, so have financials.

-- Milind