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MY FAILED WOLVE WAVE SET-UP - ANY TF |
vishyvaranasi
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Joined: 11 Jul 2011
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Post: #16  Posted: Fri Oct 26, 2012 8:59 am Post subject: |
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Hi Chetan,
Good Morning.Its here
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chetan83
Brown Belt
Joined: 19 Feb 2010
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| Post: #17 Posted: Fri Oct 26, 2012 10:14 am Post subject: |
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Thanks Vishy 
Posting another chart of Ranbaxy Nov Fut, where in there was a +WW built, entry was taken at 541 with SL as 538....same was triggered.
Please throw some light as where it went wrong?
Chetan.
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vishyvaranasi
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Joined: 11 Jul 2011
Posts: 1159
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| Post: #18 Posted: Tue Feb 12, 2013 2:26 pm Post subject: |
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Hi,
Let this Link act as a knowledge for WW's
RK,Chetan,Vinay and all others who r following and are interested in this can provide their comments about these failed Waves.
trying to activate this thread with some failed WW's.This Ranbaxy seems to feauture in the thread as a potential WW misser.
Posting charts of Ranbaxy,GSPL and TAT steel. Comments are requested from all as these mite help us checking for the flaws in our entires.
Vishy
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hedger
White Belt
Joined: 07 Oct 2010
Posts: 71
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| Post: #19 Posted: Tue Feb 12, 2013 2:36 pm Post subject: |
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| vishyvaranasi wrote: | Hi,
Let this Link act as a knowledge for WW's
RK,Chetan,Vinay and all others who r following and are interested in this can provide their comments about these failed Waves.
trying to activate this thread with some failed WW's.This Ranbaxy seems to feauture in the thread as a potential WW misser.
Posting charts of Ranbaxy,GSPL and TAT steel. Comments are requested from all as these mite help us checking for the flaws in our entires.
Vishy |
Hi Vishy,
Thanks for making this thread alive 
By seeing all the charts, I observe that none of the candle close (green candle) happened above the lower TL, might be, this may be one of the reason of the failure.
Here Tatasteel may be an exception case.
regards,
hedger.
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #20 Posted: Tue Feb 12, 2013 2:49 pm Post subject: |
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| vishy, my personal BELIEF is that a ww never fails as I don't believe in time overshoot or price over/undershoot (I have seen WWs give target after 6-7 moths also after all types of price swings and wolfe has shown it himself as also another author in his book on "ww voodoo"). In this +ww for tisco, pl search for a -ww on lower tf which formed later and scuttled your +ww. but you will get an entry again ........... it always comes there ghoom phirke!
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vishyvaranasi
Green Belt
Joined: 11 Jul 2011
Posts: 1159
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| Post: #21 Posted: Wed Feb 13, 2013 1:25 pm Post subject: |
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Hi Vinay,
Ya i agree to your post, but practically speaking we being traders cannot trade without SL. So generally we take the SL on a Closing Basis and after that we cannot predict how much the stock goes down or reverses.So exiting a position after Sl is hit suggests that we had a failed trade.One reversal point that i read is the parallel line to be drawn parallel to TL 1-3 but the below menitoned are also the cases where even this did not work. So, is there anything that we/I can consider in this regard.
Vishy
Last edited by vishyvaranasi on Wed Feb 13, 2013 1:55 pm; edited 1 time in total |
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vishyvaranasi
Green Belt
Joined: 11 Jul 2011
Posts: 1159
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| Post: #22 Posted: Wed Feb 13, 2013 1:27 pm Post subject: |
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| hedger wrote: | | vishyvaranasi wrote: | Hi,
Let this Link act as a knowledge for WW's
RK,Chetan,Vinay and all others who r following and are interested in this can provide their comments about these failed Waves.
trying to activate this thread with some failed WW's.This Ranbaxy seems to feauture in the thread as a potential WW misser.
Posting charts of Ranbaxy,GSPL and TAT steel. Comments are requested from all as these mite help us checking for the flaws in our entires.
Vishy |
Hi Vishy,
Thanks for making this thread alive
By seeing all the charts, I observe that none of the candle close (green candle) happened above the lower TL, might be, this may be one of the reason of the failure.
Here Tatasteel may be an exception case.
regards,
hedger. |
Hi Hedger,
Thnx for sharing ur view.But there is no stricit rule in WW that the close shld be abv the lower trendline.Waiting for the Candle to close abv LT only increases our SL lvl as we take SL at the low p oint5.The main ingredient i see while taking a trde is the Vol and the COG.
More views welcome
Vishy
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #23 Posted: Wed Feb 13, 2013 2:14 pm Post subject: |
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| vishyvaranasi wrote: | Hi Vinay,
Ya i agree to your post, but practically speaking we being traders cannot trade without SL. So generally we take the SL on a Closing Basis and after that we cannot predict how much the stock goes down or reverses.So exiting a position after Sl is hit suggests that we had a failed trade.One reversal point that i read is the parallel line to be drawn parallel to TL 1-3 but the below menitoned are also the cases where even this did not work. So, is there anything that we/I can consider in this regard.
Vishy |
vishy, I never said ignore SL. That's why I said you will get entry again. Line drawn from 3 parallel to 2-4 gives sweet zone in which also one take entry with SL below that line.
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rk_a2003
Black Belt
Joined: 21 Jan 2010
Posts: 2734
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| Post: #24 Posted: Wed Feb 13, 2013 6:37 pm Post subject: |
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This RCOM weekly chart is a very good teacher. Even in ww trading subjective factors do play a role. The first signal was generated for short and subsequently SL triggered. 2nd signal was generated and short trade is still going on and sensible traders obviously will have Trailing SL to lock in Profits.
Here 1st signal trade is a failed ww trade and 2nd signal trade is definitely not a failed one.
The 1st trade was discarded by me considering bullish sentiments and fierce FII funds inflow.(Subjective decision).(Again taking up a +ww trade in EOD chart and booking loss is also a subjective decision)
One may observe that there was another weak trade signal between 1st and 2nd signals, which will be discarded by experienced ww traders due to inherent weakness of the signal.
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