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RUNNING WITH THE WOLVES |
Shahii
White Belt
Joined: 15 Apr 2011
Posts: 46
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Post: #241  Posted: Fri Aug 12, 2011 2:06 pm Post subject: 5tf ww 12 aug |
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See this ww what i was talking about, this is the perfecto, target achieved with the estimated time..
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debnathnilanjan
White Belt
Joined: 30 Jan 2010
Posts: 12
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| Post: #242 Posted: Fri Aug 12, 2011 3:06 pm Post subject: Re: 5tf ww 12 aug |
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| Shahii wrote: | | See this ww what i was talking about, this is the perfecto, target achieved with the estimated time.. |
its not a WW..its just a coincidence 
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jjm
White Belt
Joined: 17 Mar 2010
Posts: 411
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| Post: #243 Posted: Fri Aug 12, 2011 4:14 pm Post subject: Re: volume |
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Dear Jeyaraman,
Does this fits in to criteria of vol to be called perfect WW pattern.
I am still a learner and would like to have your valued comments and suggestions
Regards,
JJM
| k_jeyaraman wrote: | | In Many of the charts discussed on wolfe wave, Volume is not considered ( or not shown). Volume increase on point no 5 is the most important factor to validate wolfe wave.. isnt it? |
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k_jeyaraman
White Belt
Joined: 22 Mar 2007
Posts: 16
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| Post: #244 Posted: Fri Aug 12, 2011 9:38 pm Post subject: the 1,3,5 line and 2,4 line |
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| Volume is Ok. Another important factor is both the trend lines drawn 1,3,5 and 2,4 should converge. The lines shall not be parallel as in the case of chambalfert.
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GHAISAS
White Belt
Joined: 01 Feb 2010
Posts: 349
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| Post: #245 Posted: Sat Aug 13, 2011 7:50 am Post subject: Post subject: SHAHI - 5tf ww 12 aug |
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Shahi,
I was under impression, Point 4 should occur in the range between point 1 & Point 2. Please clarify. Thanks in advance
Ghaisas
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sumesh_sol
Brown Belt
Joined: 06 Jun 2010
Posts: 2344
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| Post: #246 Posted: Sat Aug 13, 2011 11:34 am Post subject: Re: IDFC |
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| sumesh_sol wrote: | IDFC (15tf)
=======
Has already made pt5 and a close below channel , so trade entered.. Another close below channel will strengthen the setup.. SL should be above high of pt5, I'm adding ATR of this candle to high to take care of volatility, so my SL is 126.75..
Tgt as can be seen is 118 zone...
Regards,
Sumesh |
Though Tgt achieved and SL also preseved by whisker, I'm actually not sure whether it was WW effect or just channel trading..
Experience can only help us differentiate between these two... 
By the way, can some one see a bullish ww forming on eod.. (but for that price has to reach 108-110 level !)
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Shahii
White Belt
Joined: 15 Apr 2011
Posts: 46
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| Post: #247 Posted: Sat Aug 13, 2011 3:03 pm Post subject: Re: 5tf ww 12 aug |
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| debnathnilanjan wrote: | | Shahii wrote: | | See this ww what i was talking about, this is the perfecto, target achieved with the estimated time.. |
its not a WW..its just a coincidence |
Dear debnathnilanjan,
Which criteria is not matching.. please guide me.
Thanks in advance.
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Allwell
White Belt
Joined: 24 Jan 2010
Posts: 183
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| Post: #248 Posted: Sat Aug 13, 2011 8:18 pm Post subject: Re: IDFC |
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Congrats Sumesh......
yes it was amassing call.....Your S/L Was 126.75 and made high of 126.50 in future on Thursday.....
| sumesh_sol wrote: | | sumesh_sol wrote: | IDFC (15tf)
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Has already made pt5 and a close below channel , so trade entered.. Another close below channel will strengthen the setup.. SL should be above high of pt5, I'm adding ATR of this candle to high to take care of volatility, so my SL is 126.75..
Tgt as can be seen is 118 zone...
Regards,
Sumesh |
Though Tgt achieved and SL also preseved by whisker, I'm actually not sure whether it was WW effect or just channel trading..
Experience can only help us differentiate between these two...
By the way, can some one see a bullish ww forming on eod.. (but for that price has to reach 108-110 level !) |
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rk_a2003
Black Belt
Joined: 21 Jan 2010
Posts: 2734
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| Post: #249 Posted: Sat Aug 13, 2011 8:55 pm Post subject: |
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WW in Ambuja .
Is the target of 138 still intact or shall we consider it as failed ww after making a move up to 134 from point 5?.
Jeyaraman! your opinion please.
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s.muthuswamy
White Belt
Joined: 15 Jun 2008
Posts: 96
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| Post: #250 Posted: Sun Aug 14, 2011 1:12 pm Post subject: Running with the wolves |
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| GHAISAS wrote: | | jjm, great ! However, it is only after happening that I get to see the pattern - i.e. after your showing it. Your explaining it for many times - yet I cannot figure it out in advance. What is the solution? Practice? Your suggestion welcome. |
For identifying WW pattern in advance, you should look for the formation of downward/upward channel in prices and continuously watch
1. 3 to 6 months charts on eod basis for medium term trading
2. 1 month hourly charts for short term trading
3. 3 to 5 days charts on 15 min tf for swing trading
4. 5 min charts for intraday trading.
A WW formation is clearly visible only after the formation of points 1,2,3,4 of which the most important point 2 must be a significant swing point- a top in the case of downward channel and a bottom in the case of upward channel. In both the cases, the channel should be a converging one.
WW is considered to be a reversing pattern and the line 1-4 shall be in the direction opposite to that of the price channel. So the point 4 should lie between 1 and 2.
The line 1-4 is the target line. Only after the price returns from the point 5 to the line 1-3 and crosses it, the reversal is confirmed.
If the points 1,2,3,4 actually form part of a WW , it is certain that the price falls from the point 4 to the line 1-3. The price goes even beyond 1-3 to the line drawn parallel to 2-4 and through the point 3.( The region between this new line and the line 1-3 is sometimes called sweet zone) The price sometimes goes beyond the sweet zone also.
In a perfect WW, the wave 4-5 will be of length between 127% and 167% of the wave 3-4.
As per the WW recently formed in NF, the fall from the point 4(5760) on eod basis, has crossed 127% (5026) . Hence it may fall up to 4795 which corresponds to 167% of the fall.
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rk_a2003
Black Belt
Joined: 21 Jan 2010
Posts: 2734
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| Post: #251 Posted: Sun Aug 14, 2011 2:06 pm Post subject: Re: Running with the wolves |
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Muthuswamy!
Could you please explain your preposition "As per the WW recently formed in NF, the fall from the point 4(5760) on eod basis, has crossed 127% (5026) . Hence it may fall up to 4795 which corresponds to 167% of the fall." with the help of Nifty Chart,if possible.
Thanks !
| s.muthuswamy wrote: | | GHAISAS wrote: | | jjm, great ! However, it is only after happening that I get to see the pattern - i.e. after your showing it. Your explaining it for many times - yet I cannot figure it out in advance. What is the solution? Practice? Your suggestion welcome. |
For identifying WW pattern in advance, you should look for the formation of downward/upward channel in prices and continuously watch
1. 3 to 6 months charts on eod basis for medium term trading
2. 1 month hourly charts for short term trading
3. 3 to 5 days charts on 15 min tf for swing trading
4. 5 min charts for intraday trading.
A WW formation is clearly visible only after the formation of points 1,2,3,4 of which the most important point 2 must be a significant swing point- a top in the case of downward channel and a bottom in the case of upward channel. In both the cases, the channel should be a converging one.
WW is considered to be a reversing pattern and the line 1-4 shall be in the direction opposite to that of the price channel. So the point 4 should lie between 1 and 2.
The line 1-4 is the target line. Only after the price returns from the point 5 to the line 1-3 and crosses it, the reversal is confirmed.
If the points 1,2,3,4 actually form part of a WW , it is certain that the price falls from the point 4 to the line 1-3. The price goes even beyond 1-3 to the line drawn parallel to 2-4 and through the point 3.( The region between this new line and the line 1-3 is sometimes called sweet zone) The price sometimes goes beyond the sweet zone also.
In a perfect WW, the wave 4-5 will be of length between 127% and 167% of the wave 3-4.
As per the WW recently formed in NF, the fall from the point 4(5760) on eod basis, has crossed 127% (5026) . Hence it may fall up to 4795 which corresponds to 167% of the fall. |
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s.muthuswamy
White Belt
Joined: 15 Jun 2008
Posts: 96
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| Post: #252 Posted: Sun Aug 14, 2011 4:55 pm Post subject: Running with the wolves |
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rk_a2003,
On 7th Aug itself I replied to one of your posts that NF is going to fall up to 5040 which is around 125% of the fall from 5760. Since it has gone well below this level to 4951 on 9th Aug( with RSI below 30) NF will again fall below this level soon. If we can see +ve divergence then with RSI above 30 then we can conclude that bounce back has started. Otherwise further fall below the new low is certain. In these circumstances, we can expect a max fall of nearly 167% from 5760 and it is 4795.
The WW referred to here has the following points:
Point 1: 5357 (21.3.11 low)
2. 6000(5.4.11 high)
3. 5182 (20.6.11 low)
4. 5760 (5.7.11 high)
5. 5040 or 5026 (127% fall expected by me on 7th Aug)
4795 (because NF has fallen below 5040)
If 4795 is also broken it may fall to 4217 below the Veeru level 4389
Though I have not given the chart then , Mr.JJM has posted one on 10th Aug which you can compare with my points given above.
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rk_a2003
Black Belt
Joined: 21 Jan 2010
Posts: 2734
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| Post: #253 Posted: Sun Aug 14, 2011 5:13 pm Post subject: |
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Thanks , Muthuswamy !
Could you please refer my Ambuja chart posted below and comment please.
Thanks
RK
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s.muthuswamy
White Belt
Joined: 15 Jun 2008
Posts: 96
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| Post: #254 Posted: Sun Aug 14, 2011 6:31 pm Post subject: Running with the wolves |
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| rk_a2003 wrote: | Thanks , Muthuswamy !
Could you please refer my Ambuja chart posted below and comment please.
Thanks
RK |
You have correctly identified a WW in Ambuja cements where the points 1,3,5 are almost symmetrically placed even though the drawn lines need to be a little better. Usually the journey from 5 to 6 will be swift, in this case it is going to be slow; even this for good. The target is going to be more than 138 you expected. There has formed an NVK set up at 120 levels with positive divergence and so the price is going to reach the previous height. I therefore expect the price to cross the target line 1-4 and reach 145 levels.
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rk_a2003
Black Belt
Joined: 21 Jan 2010
Posts: 2734
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| Post: #255 Posted: Sun Aug 14, 2011 6:43 pm Post subject: |
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| Thanks!
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