selvamB

selvamB Updated 

A good trader has to adopt for the change in trading environment. the so long correction in s&p500 index is in a wedge shaped and now broke-out with 5 waves. the 1st confirmation for bullishness (formation of wave''E'') is set as this BO (5waves)exceeded 62% of wave 'D'. wait for 2nd confirmation ,a pullback up to 38% of new wave 'A '(4455)this week (FED int...

selvamB Updated 

NIFTY is in channeled uptrend and completed 3 waves up. It has to complete its 4 th wave correction upto 17560 as ABC zigzag . this is 2nd confirmation for buying set-up, where 3 confluence of support lines coincides Buy after wedge break-out on Friday(08/04/22). for a solid bull run of 5 waves as c5 to take our nifty once again to the resistance zone near 18500

selvamB Updated 

On going 'C' wave correction (5wave down) is yet to finish with one more leg down(E). The progress of 'E' wave will end on 26th April(61.8%of A+B) at 15750 IF the odds or more this wave has the potential to bring NIFTY to 12800 (161.8%of A+B) LOGIC: the possibility of extended 'E' wave is inevitable since 'C' wave is NOT extended

selvamB

After completing wave'A' ,s&p500 index will start its downward journey from today 30/03/22 first target will bring this index to 4320

selvamB

After a 5 wave decline ,we are in recovery wave (B) which has the potential to lift the index to 4422, watch todays price action and trade accordingly,

selvamB Updated 

I just combined both EW and PA for forecasting SPX index. both are reflecting price and emotions of bulls and bears(price action traders always look for opportunity to trade in either way) But Elliotticians will trade in the main direction of the trend(down) . Since trading in options(buying), is a premium game(theta erosion),better to enter on 9th march

selvamB Updated 

combined analysis of both EW & PA clearly tells that wave C3(third leg) completed at 15711. expecting temporary suspension of UKRAINE war. HNI,FII are covered their shorts today (to compensate the loss in cash market). what next? buy calls!

selvamB

price action in SGX nifty shows, C4 retracement to 17000 /17090 level before thursday(17/03/22) it has 3 confluence of resistances @17090, 1st wave bottom, 55 trendline (expanded triangle),and c4 expanded flat wave target hope this will be the highest point of this month

selvamB Updated 

This is an updated version of my previous post on SPX index, on the basis of Elliott wave analysis after breaching of 4196 ,the fifth wave is going to extend further up to a maximum of 3740.before march end 2022 traders can open shorts near 4280/4300levels on monthly PUTS, but strict stop loss 4340 ,(disclaimer, trading at your own risk, pl, verify with your advisor)

selvamB Updated 

time to close puts and expect a sharp bounce for c3/2. For this week buying calls will be a good Idea

selvamB Updated 

Today SPX completed its recovery(xx) after its wave 'Y', note that it has not penetrated inside wave 'W' territory. wave 'Y' extended beyond 1.62% of wave 'W', Hence as per EW rule one more wave 'Z' to unfold which has a definite relationship (between 62% or 162%)of wave 'W'. Lets open our shorts,keeping stop loss 4582 Trading with minimum stop loss, conserve our...

selvamB Updated 

I am posting a chart for educational purpose using S&p 500 index with heikinAshi candle and elliott waves trading is an art of buying at low and selling at high, looks easy to do? if so why more people loosing and big players minting money? trading is a money making process when the crowd has extreme interest in one direction(buy /sell). when everyone in the...

selvamB Updated 

Trend line is our friend line 2,4 trend line break is the confirmation of reversal. BTC managed to pass this line in both major and minor . Asset class diversion can fuel BTC to start its 5 th wave rally soon. targets indicated in fibanocci log scale

selvamB

This is a most awaited posting of this time, since everyone comes to stock market to make quick money they buy options with less money and loose every time because of lack of knowledge I explain in this chart how I make more money consistently by buying options, I don't have crores of rupee for selling options but have a sharp EDGE to stab them b selvam...

selvamB

A clear text book like Elliott wave counts shows that on going ''C'' wave correction will bring this index to below 4000 levels before march'22 I appreciate if any TA tool tells this story.

selvamB

gold consolidation came to an end by this month, if $1780 fails to hold by bulls ,we may have a sharp selloff till $1416

selvamB Updated 

traders should observe the pattern formation , LH,Head formation completed wait for Right shoulder formation , aggressive traders can short @18000 levels(RS) conservative traders can open short position after the neckline break, target given around 16900

selvamB Updated 

A complete wave counts illustrated for our TC who trading in NIFTY . next week gapdown will completes (near 17400) 5 th wave of falling Motive wave 1. traders cant catch the knif (shorting at the end of 5 th wave is not a good trade practice) hence go long if 17400 respected