Dec 152011
 

Just a quick one, to catch your imagination.
Whether you are trading the weekly charts, or the 5 minute chart, Elliott Waves work wonderfully well. You just have to acquire a feel for it, and you have won half the battle. See this example of the INR (Indian Rupee) which has come down in a nice five wave pattern today. If you are a day trader, you can spot similar opportunities in almost all well traded stocks or currencies.
Enjoy.

  15 Responses to “Elliott Waves work in all time frames”

  1. Ramki,
    I think, you are better than the character Neo ‘the one’ in the film Matrix. (trying to put it in a humorous way).
    Seriously what I mean is that you can interpret the charts in real time as they happen and see where they go before they go.
    Too bad you are restricting yourself in educating your followers on the technique. We only get awed with some of your educational observations. I notice many have successfully used them as trading tips.
    Thanks for maintaining such a wonderful blog.
    Satya

  2. very nice example sir

  3. Dear Sir

    Thanks a Lot for such wonderfull book for explaining such complex subject in easier way.

    Sir, I have 2 queries mentioned below.

    1) You had mentioned that before making entry it is must that their should be tiny five wave and reflex point must be touched. I want to ask many time their is extended 5th wave so should we consider the 4th wave within 5th wave as reflex point or reflex point
    should be the 4th wave made after wave 3 but before start of extended 5th wave.

    2) Sometime after completion of all 5 waves prices just start falling without any stop or pullback to any reference point and heads straight below the start of wave one, under such condition how should we make entry. By the time we wait for pullback the wave had made its journey.

    Thanks in advance for the reply.

    Randhir Gaikwad

    • Hi Randhir, A mini 5 wave move that gets past the 4th wave within the extended fifth otself gives you a clue. Bear in mind I have not said you MUST wait for that before entering the market. There is no such thing as MUST in the financial markets, because however clever you are, the market knows better. However, these are all clues that help you reinforce your views. Your second question about the market falling off without any pullback for you to enter, well, the sad truth is you have missed the move! But that shouldn’t be a problem. If you are a sensible trader seeking low-risk trades, you will be patient for a trade where the market comes to a level where you are comfortable taking a risk. Never chase the market. Wait for it to come to you. Good luck. By the way, I wonder if you care to share your view of the book on Amazon in a review? That will be one way of giving back to the community of traders.

  4. Dear sir,
    Will nifty make bottom of 4530 as per your previous count?????
    pls give update on nifty……

  5. sir,

    Pl, guide usdinr complete @54.40 5 wave move and correction in three wave is under processing or it has some fuel to further extend 5th wave to reach around 56 . Pl, help me ,some confusion with me due to lack of experience.

    Thanks

    • Hello Prasanta, THe INR has moved into the window where we thought it will peak for a swift downmove. This is happening. Personally I have taken action based on that view. Now I will move away and let the market take its own course. There is no point in flogging a horse that has already completed its race, even if others are still riding.

  6. Hi, GM Sir
    This is pradeep karnani, from hyderabad
    I want to purchase ur book , plz tell me where i can buy this book in hyderabad.

    Regards
    Pradeeep Karnani

    • Hi Pradeep, the book can only be purchased online. Please click on the image of the book to the right and follow the guidelines. Let me know if you still have a problem. Ramki

  7. Mr Ramki, Please provide the long term forecast of INR/$US.
    Thanks In Advance.

  8. Dear Ramki,

    The rupee almost hit 54. Is the move off the Feb 3rd low of 48.5 an X wave or is this part of an impulse. Hope you can drop a line or two. Enjoy your vacation.

    Best regards,
    BJ

  9. Ramki good to read your nifty analysis. But, you have been silent on the INR since December, the reason why NIFTY might go south again. Or is it too difficult to “PREDICT”

    • Hi Munna, thanks. As I often point out, I am only sharing my knowledge of Elliott waves with readers. Many people think I am offering an advisory service, which is incorrect. The INR is perfectly compliant to the tenets of EWP as you can verify from my prior comments

  10. Respected Sir ,
    Please update in INR/$USD.
    Thanks.

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