As shown in the chart, price hit target on given ETA.
Now important in WW is support of other indicators ... and divergence. see in above crude chart pt 5 is lower then point 3 mean making lower low but MACD at time is making higher high that is Positive Divergence. So WW get support from MACD Positive Divergence an bangs on Target.
Back to basic WW there are two type of WW. Bullish and Bearish. There is not much difference but they are mirror to each other and rules are vice versa... so if u able to find one u will be able to find another..
Comments :
jivrajani: eta very near so avoid entry a
Tejas: price making higher high / Tejas: and macd not / Tejas: with dropping volumes
Bobby: we can SELL here for tgt of 113
jivrajani: price is in between 21 wma & 34 ma...it can take support at 34 ma
jivrajani: & at that level ETA will hit so ww should be closed at that level,,m i right?
Achintya: Sry SELL double if 2,4 line breaks
jivrajani: & after entry sl should be 131.2
Rawal Says :
Point 1 price making new high RSI making low high and macd not making new high.
Point 2 price higher volume lower bearish sign. Point 3 a false breakout done at point 5 (once taken support there), when point 5 broke MACD given SELL.
We sold at the break of of point 5 with last high of point 5 as SL. Further now price is going low but volume is getting higher that shows that down trend will continue.
These all are saying one word that is SELL. As achintya we should SELL one more lot at 2-4 line broken coz now RSI will break 50 level one more bearish sign.
Now u people tell me after u got 7 SELL reasons what you are going to do ?? SELL SELL SELL only… with closing basis SL 137, lot size of Hindalco is 4000. So we sold near @ 130. Waiting for target line that is 1-4 line to touch.
Now back to hindalco what happened to it ????? Any guess ??
It went to 90 but we exit at 113 as safely. Total 14 rupees earned total profit 28K in one lot. At that time lot size was 2000. One trade in a month is more then enough , so better we can do in options in this type of trades.
I have covered al basics of WW hope u all enjoyed it in next class we will attempt some deeper part of WW. Now I am expecting from all to do some practice post some chart of WW / Wedges/ channels improve your self and do some hardwork and earn well.
You can find some chart of WW here.
viewtopic.php?f=4&t=22&start=20Achintya: WW works much better on hrly for positions/intra i observed what u say bhai?
WW works much better on hourly for positional / intra that is what I have observed . Hourly /Daily / Weekly I tried all and all working nicely. Further, for intra day 5 min and 15 min time frames are better. One more important thing WW can fail in wave 3 of EW ... else it give good result if made proper WW with symmetry
Some Examples by use
jivrajani:
omkaar :
omkaar :
ashishp:
ashishp:
Relation between EW and WW
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