Nifty :Crab to Grab, Gartley to catch, Elliot to Watch !
Updated
The Pattern wings had similar color, so to avoid confusion , I m posting with different colored wings ! Sorry for delay !
All New Day I'm little elated today after two back to back boring trading days, bcos today we have potential trading opportunities. We have Crab to Grab in Resistance Zone, A Gartley to Catch within Range & Elliott to Watch Nifty Swings. Let's prepare our Arms n Guns and prepare Battlefield Strategies...!
Strategy 1 : If Nifty remains within 8700-8750's, Don't attack directly with full-force. Hide n Strike like Gartley pattern which is hidden inside Crab,by scalping 10 or 15 points. Or if you use different strategy to trade, only do scalping within the above mentioned range.
Strategy 2 : Bearish Crab - So for this to happen either Gap Up open in our resistance zone ( lesser chances I believe ) or Move up to Crab's end. This is also the completion of Elliott's Wave-3. So reversal means start of Wave-4 & Short trade by Crab.
Now we will have doubt, why not get long on Wave-3 & ride till resistance zone, Well, there is no assurance Wave-3 will move as predicted, moreover we are on 15mins so Nifty may take any direction. We will be lucky if Gartley works fine on Shorting and we ride down breaking 8700's by trailing stops. Remember this is lucky scenario in Nifty and Nifty always makes us do hardwork, not easy winners. If Gartley fails our stops will be above 8747's, so we don't lose more than 8 points, a risk worth taking for Me. So please check your plan before proceeding.
Just happened, pre-market @ 8743, will love it if market don't spike up n moves all the way down. Get Ready...!
Happy Trading !
All New Day I'm little elated today after two back to back boring trading days, bcos today we have potential trading opportunities. We have Crab to Grab in Resistance Zone, A Gartley to Catch within Range & Elliott to Watch Nifty Swings. Let's prepare our Arms n Guns and prepare Battlefield Strategies...!
Strategy 1 : If Nifty remains within 8700-8750's, Don't attack directly with full-force. Hide n Strike like Gartley pattern which is hidden inside Crab,by scalping 10 or 15 points. Or if you use different strategy to trade, only do scalping within the above mentioned range.
Strategy 2 : Bearish Crab - So for this to happen either Gap Up open in our resistance zone ( lesser chances I believe ) or Move up to Crab's end. This is also the completion of Elliott's Wave-3. So reversal means start of Wave-4 & Short trade by Crab.
Now we will have doubt, why not get long on Wave-3 & ride till resistance zone, Well, there is no assurance Wave-3 will move as predicted, moreover we are on 15mins so Nifty may take any direction. We will be lucky if Gartley works fine on Shorting and we ride down breaking 8700's by trailing stops. Remember this is lucky scenario in Nifty and Nifty always makes us do hardwork, not easy winners. If Gartley fails our stops will be above 8747's, so we don't lose more than 8 points, a risk worth taking for Me. So please check your plan before proceeding.
Just happened, pre-market @ 8743, will love it if market don't spike up n moves all the way down. Get Ready...!
Happy Trading !
Note
Target -1 For Gartley 8724 ! (Nifty spot)Trade active
Note
Target 1 reached...Now Trail stops Guys... We may have treat today !Note
Patterns Patterns....Its Raining Patterns... !Note
Potential Bear Gartley @ 8742 to go short & Bullish Gartley @ 8696. Check with your Plans, its just suggestion. Regarding My positions, will look at price action for Bear gartley and decide whether to hold My Short Nifty position or Close !Note
Done for the Day, Carrying over My Short Positions in Nifty !Note
Will close my remaining 25% short positions if 8820 is breached, Now I'm in Negative after yesterdays meager profit ! So Guys, Loss happens for Me also... just to clear the air :)Trade closed: stop reached
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