Another wise quote which i like by balaji.
The trend is your friend until it 'bends'
The wolfe wave is a flexible pattern that can be used in both trend continuation/reversal scenarios (wolfe just reverses the ultra short term trend could either be with or against various trends of various degrees in various timeframes :)).
Go talk to a good trader.
First and foremost a good trader is an independent thinker.
A trader should be able to act in uncertain times. 50:50 or even worse.. hence a trader focuses on techniques like reward/risk to enhance returns.
Today's wolfe wave trade given short under 608 futures sl 614
target 596/590
subsequently targets were readjusted to account for risk management rules
1x risk at 602 cover half 2x risk at 596 cover full.
Raja: market is expected to stay range bound for god knows how long
i suggest everyone study some counter trend systems/patterns
http://www.traderji.com/technical-analysis/13372-wolfe-wave-rajas-knowledgebase.html
sent early morning
Raja: tisco sort of wolfe wave
3 day high 614.7 sl in futures res 608 target 600-595 area. lets see
Raja: gaya tisco
shorted on way up
Raja: now cover on way down 600-595 zone
6 comments:
My dear sir, your daily views & news are slowing & deeply missed... hope you are not loosing interest in us meager mortals !!
I am slightly busy packing up stuff
leaving Germany.
This site will be back in full force only after I am in Delhi around mid/late August.
Until them it will stay a little quiet
until then *
:)
well bon voyage... how long in delhi ?
Should be in delhi for a while: 2-3 years.
Thinking about settling down in India.
Either I will get full time into the markets and stick around in India, start my own trading firm/website etc or I will go back to studies: masters/phd
the person who created this post is a genius and knows how to keep the readers connected.
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