OK now Nifty is acting as we thought it should, and the moment of truth is near too. The price band of 5110 - 4990 is still there on the chart, it is where we expect our wave [c] of II to end. After that we should move up, since my trading time frame is daily - weekly, I don't trade the hourly fluctuations, even if they are very sure. Now we may see a zero level reversal on MACD, which is a copy book pattern development. Prices have already closed below 5 DEMA, now we will wait for it to reach our target zone on the downside and then again close above 5 DEMA to initiate a long trade. This might turn our to be a very good long trade, if someone got in on the positive divergence on waves [3] and [5], they should hold their longs with SL at cost.
It's glad to see good information being convey. Its a very nice written, and I really like this blog. Thank you for sharing this info.
ReplyDeleteRegards: MCX, NCDEX
Thanks for your kind words. You can become a member of this blog and share it with your friends and colleges.
DeleteHi Aniruddha.
ReplyDeleteA Fresh 5 Wave Advance can be seen from the low of 5015-5145..
So B/2 of Flat looks skeptical..
I cannot figure out 3 wave advance instead it looks 5 wave.
Can you post 3 wave Advance? Intra-Day Chart.
Thanks & Regards,
Harsh Dixit.
I avoid fractals lower than hourly but below hourly I like to look at overall form of patterns and fibo relationships along with momentum indicators. This is so because I trade on daily -weekly fractals.
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