Shorted Nifty @ 11735 (Sep futures) Currently it seems that Wave-III is retracing. Expected range for Wave-IV is between 38.2% & 50% retracement. There could be volatility and consolidation. Just closed the short trade at 11455 as I was writing this. About 280 points per lot profit. Shall enter again on the short side when the levels seem right.
Long entry in Maruti 27th Sep Futures at 9166 on 31st August - CMP is now at 50% retracement of the rise from 8255.5 (21st May) to 9929 (24th July). To me this seems like the ABC retracement of Wave-V is over and a new Wave-I could be starting. Some consolidation could happen of course, before it rises. (See Daily Chart on right) - The Daily chart shows very...
Simple and Repeatable setup with low risk high reward.
Traded near Fib R 1.272 of "AB" & Fib E 0.382 of "ABC". After Corrective WAVE "ABC", Probability of WAVE 1-2-3-4-5 Pattern. Fundamentally Positive Top & Bottom Line Growth. (Though Lacking in Margin) In Volume: Bull Volume Rising. ..... rest detailed plotted & mentioned in chart.
Based on 1) eliott wave 2) channelling 3) fibonacci ration Please do not trade on this , only for educational purpose & for your observation onlu
It looks like HCL is in a Flat A-B-C Correction as shown by the circled counts, within the same it looks we are as of now in the Wave 2 of Wave C of this Flat correction or we have completed the Wave 2 and already started the Wave 3, in either case HCL looks to be a good shorting candidate with SL above 1108.
We can see some selling momentum, Now we need only price action signal to go short.
WAVE 5 complrtted, Now in corrective WAVE. Possibility of reversal as completed 88.6% Correction. Candlestick: Current Candle "DOJI" (After Bearish Candles), Possibility to form Morning DOJI Star. Volume: Volume Significantly Increased (Above AVG.) ......Rest details plotted & mentioned in Chart.... Education Purpose Only.
There is a very good price structure and this is a very common pattern. We don't need a high win rate to make money, we need a few good trades with good RRR. If you have 30-40% win rate then its enough to make money.
1) ASCENDING TRIANGLE 2) TK CROSS ABOVE GREEN KUMO CLOUD 3) START OF EW 3 4) RSI BULLISH ENTRY 82.60 TARGET 85.60 SL 80.60
RESULT IN 2 DAYS POSITION ENTERED @ 164.70 SCROLL OVER GREEN BOX FOR TARGETS.