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RUNNING WITH THE WOLVES |
rk_a2003
Black Belt
Joined: 21 Jan 2010
Posts: 2734
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Post: #556  Posted: Fri Sep 23, 2011 5:08 pm Post subject: |
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Sumesh!
You owe me nothing  . Today also I am away from the terminal, Just before logging out I observed that WW still in making.
Now after viewing your Trade I am in bliss, that’s enough for me. By the way it seems after some time it reached the target too… Well done.
| sumesh_sol wrote: | | Arjun20 wrote: | | sumesh_sol wrote: | | rk_a2003 wrote: | Hi All!
On Nifty 1 m chart it appears that bullish ww forming .Check It .Iam logging off.
RK |
RK, Perfect ww. let's see..
Thanks for advance info... |
Sumesh, will u pls kindly post it (when u get time). I'm having prob in identifying it
thx |
RK : Thanks dear, I owe you one good pattern in return
Arjun : Tgt is still due , but I booked out.. |
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rk_a2003
Black Belt
Joined: 21 Jan 2010
Posts: 2734
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| Post: #557 Posted: Fri Sep 23, 2011 5:23 pm Post subject: Re: Running with the wolves |
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| chandrujimrc wrote: | | 5 mnt TF chart |
Chandru!
Wonderful identification. This time you identified this Bearish WW right at point 5.
What a trade to finish the week end.
Look at this chart guys! Short around 4930 with a stop loss of 10 points, at around 2.15 pm for a target 1 of 4843 and target 2 of 4830 (A risk reward of 1:10 wow!).
Around 3.15 pm it reached 4860.Still a profit of 60 points. That’s the beauty of WW .It would have reached the target provided time is there.
I am reposting the same chart (with some markings for the sake of boarders) posted by Chandru that was at the close of the day.
Target 1 was drawn by joining real body of the candle at point 4 (conservative).Target 2 was drawn by joining wicks at point 4 (optimistic)
Welldone chadru! very good improvisation.
RK
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vinay28
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Joined: 24 Dec 2010
Posts: 11748
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| Post: #558 Posted: Fri Sep 23, 2011 8:09 pm Post subject: |
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| RK, at the instant at 2.46 pm, when NF went to 4935, how does one decide that it is the right time to short?
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vinay28
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Joined: 24 Dec 2010
Posts: 11748
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| Post: #559 Posted: Fri Sep 23, 2011 8:14 pm Post subject: |
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| sorry, I think it is 2.21 pm. I couldn't see time properly
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rk_a2003
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Joined: 21 Jan 2010
Posts: 2734
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| Post: #560 Posted: Fri Sep 23, 2011 8:33 pm Post subject: |
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Vinay!
Ask Chandru! he has posted exactly at 2.18 pm he might have identified it atleast few minutes earlier. What magic he is having. 
It's point 5 vinay .That's where we need to take a position.
| vinay28 wrote: | | sorry, I think it is 2.21 pm. I couldn't see time properly |
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chandrujimrc
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Joined: 21 Apr 2009
Posts: 1683
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| Post: #561 Posted: Fri Sep 23, 2011 9:02 pm Post subject: Running with the wolves |
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Dear Rk,
Thanks a lot for your appreciation.I have identified the set up at 2.10 after breaking the 5 mnt TL I shorted at 4921.Not only TL break ,nain reason RSI -div.
Chandru.
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rk_a2003
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Joined: 21 Jan 2010
Posts: 2734
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| Post: #562 Posted: Fri Sep 23, 2011 9:12 pm Post subject: Re: Running with the wolves |
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Chandru !
If you can recall my earlier posts,I observed that if a wolf wave formed in accordance with the preceding direction the sucess rate will increase further.
What is the preceeding direction of nifty, from yesterday onwards it nosedived more than 200 points . Now you found a Bearish WW .What more we want.
In such cases I can take a short position at 1 3 5 trend line it self keeping a 10 points stop loss. My belief is - in such cases 99% the set up will be sucessfull if not 100%.
| chandrujimrc wrote: | Dear Rk,
Thanks a lot for your appreciation.I have identified the set up at 2.10 after breaking the 5 mnt TL I shorted at 4921.Not only TL break ,nain reason RSI -div.
Chandru. |
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chandrujimrc
Brown Belt
Joined: 21 Apr 2009
Posts: 1683
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| Post: #563 Posted: Fri Sep 23, 2011 9:16 pm Post subject: Running with the wolves |
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Dear Sumesh/Rk.
I dont know how far this set up is perfect,but mkt has entered into the channel.Refer the chart and make your comments pl.
NF 15 mnt TF +WW.
chandru.
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Ravi_S
Yellow Belt
Joined: 15 Jun 2009
Posts: 569
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| Post: #564 Posted: Sat Sep 24, 2011 12:06 am Post subject: Re: Running with the wolves |
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That's precisely the reason why the Reliance WW did not hit the target... Trading a Bullish Wolfe Wave when Market is bearish and vice versa is a bit risky...
| rk_a2003 wrote: | Chandru !
If you can recall my earlier posts,I observed that if a wolf wave formed in accordance with the preceding direction the sucess rate will increase further.
What is the preceeding direction of nifty, from yesterday onwards it nosedived more than 200 points . Now you found a Bearish WW .What more we want.
In such cases I can take a short position at 1 3 5 trend line it self keeping a 10 points stop loss. My belief is - in such cases 99% the set up will be sucessfull if not 100%.
| chandrujimrc wrote: | Dear Rk,
Thanks a lot for your appreciation.I have identified the set up at 2.10 after breaking the 5 mnt TL I shorted at 4921.Not only TL break ,nain reason RSI -div.
Chandru. |
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sumesh_sol
Brown Belt
Joined: 06 Jun 2010
Posts: 2344
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| Post: #565 Posted: Sat Sep 24, 2011 8:01 am Post subject: BHARTIARTL |
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BHARTIARTL..60tf..
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Indeed it take courage to go for counter -trend trade ! But WW is all about reversal..
This one is also trying to swim against flow, try to catch it at lower levels (say 367-370) for a 1:3 r/r ..
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sumesh_sol
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Posts: 2344
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| Post: #566 Posted: Sat Sep 24, 2011 8:18 am Post subject: AMBUJACEM |
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AMBUJACEM..60tf..
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Again, Try to catch it at lower levels(around 142.5) to increase r:r ratio.
Point 3 has been taken from where actual journey upto point 4 started, so odd tails can be ignored..
In this case I would recommend SL of CLOSE below 141 on hourly..
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sumesh_sol
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Joined: 06 Jun 2010
Posts: 2344
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| Post: #567 Posted: Sat Sep 24, 2011 8:32 am Post subject: CIPLA..eod |
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CIPLA..eod
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Although Before entering into channel, I prefer a fullbody close outside lower channel .. But, as it is showing constant divergence at bottom, I would go for it with a SL of CLOSE below 270 on DAILY basis..
Excellent R:R (1:7) !
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rk_a2003
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Joined: 21 Jan 2010
Posts: 2734
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| Post: #568 Posted: Sat Sep 24, 2011 9:44 am Post subject: Re: Running with the wolves |
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It appears that the set up is fine.
One can go for it;If on monday nifty remains above the bottom trend line( for a good amount of time, say 30 minutes) we can go for it.
We should keep a first target of 5040/ 5060 ( decide depending up on the momentum) , Book half here and for remaining tsl to cost to cost and then watch the fun and enjoy.
Chandru! did you observed that your 5 m bearish ww finding on friday is a bearish ww formed (in smaller time frame )with in this bullish ww on higher time frame.
| chandrujimrc wrote: | Dear Sumesh/Rk.
I dont know how far this set up is perfect,but mkt has entered into the channel.Refer the chart and make your comments pl.
NF 15 mnt TF +WW.
chandru. |
Last edited by rk_a2003 on Sat Sep 24, 2011 10:03 am; edited 5 times in total |
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Arjun20
Yellow Belt
Joined: 23 Jun 2011
Posts: 945
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| Post: #569 Posted: Sat Sep 24, 2011 9:52 am Post subject: Re: CIPLA..eod |
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| sumesh_sol wrote: | CIPLA..eod
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Although Before entering into channel, I prefer a fullbody close outside lower channel .. But, as it is showing constant divergence at bottom, I would go for it with a SL of CLOSE below 270 on DAILY basis..
Excellent R:R (1:7) ! |
Sumesh bhai,
if we see the same WW channel in weekly TF, then there's a HnS in formation and the WW lower TL is neckline on Hns pattern.
Break-out of HnS is yet to happen. So one needs to be careful about moves outside channel.
Am i right Sumesh?
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Arjun20
Yellow Belt
Joined: 23 Jun 2011
Posts: 945
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| Post: #570 Posted: Sat Sep 24, 2011 10:03 am Post subject: Re: Running with the wolves |
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| chandrujimrc wrote: | Dear Sumesh/Rk.
I dont know how far this set up is perfect,but mkt has entered into the channel.Refer the chart and make your comments pl.
NF 15 mnt TF +WW.
chandru. |
Dear Chandru,
the basic requirement ie.CONVERGINg TL's is not seen in your post. Rather the TL's are diverging. Is it allowed?
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