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EW Theory and its excellent impact on Market

From : Dheeraj Trivedi at 11:23 AM - May 06, 2011 ( )
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In one of the threads two different views are taken, one bullish view is mine. The fact is wave theory offers no flexibility, wave count is very precise and unambiguos. The toughest part is how to identify where the market is, on wave front. For day traders and short term traders bigger wave offers no help, as there are waves inside the waves.

1. The biggest wave1: Sub 500 to 6300 (over)

2. Wave 2: 6300 to 2300 (Over)

3. Wave 3: Running (Target: around 10000, Time Frame : anybody's guess may be 2-3 years.

(This wave is of no help to Intraday or short term trader)

Internal, Wave, very helpful..

1. Wave 1: Started from 4700 to 6300 (Over)

2. Wave 2: From 6300 to 5200 (Over)

3. Wave 3: From 5200 to 6500+ (Running)

Another Internal Wave

1. Wave 1: Started from 5250 to 5950 (Over)

2. Wave 2: From 5950 to 5300 (Almost Over)

3. Wave 3: From 5300 to 6500+ (About to resume)

Further subdivision can be made for short term support / resitance levels and reversal points. Once a wave touches 38% retraction, it may or may not touch 23%. So the wave two touched 38% at around 5505 levels, it need not go to 5405 and can reverse from here. But yes if it reverses from 5405 levels, then force is very high. Any long position should be taken closer to 5400 levels or if closes above 5505. 5400 is a master stop loss on closing basis. Ideally 5400 will not be breached on closing basis.

Hope this clarifies something about current wave running.

 

 

 




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From : Barun Biswas at 02:39 PM - May 06, 2011 ( )


Nice to see you again after a long gap.





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From : Kr Menon at 02:32 PM - May 06, 2011 ( )


Hi Dheeaj,

Good to see you back. I too feel 5403 will not be tested in this run. However, there was a freek trade in April @5393 which is an alert by some interested parties. Let us see. Your assessment is very encouraging.

KRM





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From : Dheeraj Trivedi at 01:45 PM - May 06, 2011 ( )


Thanks Hemant, Nitin and all those who remember.





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From : Hemant Parikh at 01:08 PM - May 06, 2011 ( )


DEAR DHEERAJ,

HAPPY TO SEE U AFTER VERY LONG TIME





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From : Dheeraj Trivedi at 12:29 PM - May 06, 2011 ( )


EW theory is applicable on all time frame !! It depends how we identify the sub waves. Traders use 1 hourly candle or even 5 minutes candle can give good idea about intraday trades.





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From : Aladeen Showkath at 12:23 PM - May 06, 2011 ( )


DEAR DHEEERAJ ELLIAT WAVE THEORY IS NOT USE FULL FOR INTRDAY+SHORT TERM IN MY EXPERIANCE IT USE FOR ONLY LONG TERM+PREDECT THE TGTS THATS ALL.........................




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