Gartley

ICICI BANK: Bearish Bat Pattern + Bullish Gartley in Progress As observed on daily chart, there were two harmonic patterns identified on daily chart mentioned below First: Bearish Bat Pattern - Completed - marked in yellow Second: Bullish Gartley Pattern - in progress to complete D leg - marked in Green Target: 255 Stoploss: 267

Gartley : The Gladiator ! Will it Save Nifty ?!Even I'm wondering how I get these title's in minutes. ok, lets not boast so back to analysis of Nifty ! So what are the components of today's chart ? We got, (i) Bullish Gartley - The Gladiator (ii) Bullish ABCD completion (iii) Elliot wave counts (iv) Trendline in Support zone We have the Gartley & ABCD pattern completion in our support zone 8500's (approx.) so if patterns behave as they ideally behave Nifty may rise up till resistance zone 8680's. But we should note that, for past 2-3 weeks we had approx.3 pattern failures only, so we should take steps carefully bcos we can't win everytime or 95%. In the same pattern completion zone we have a trendline passing through which is tested 4 times and Nifty moved up. I remember GBPUSD which I did yesterday night, similar to Nifty, it retested 3 times & 4th time when I entered long it failed. Usually Newbie's will kick themselves and scold their luck, No Guys.. It Just happens,part of trading Game. None does something willfully against you knowing your strategy ! But I expect today we may have calm day kinda ranging bcos silence after the storm. Let's See... If the Nifty goes down plan your trades accordingly, I just gave my view based on Patterns n Elliott's ( oh God ! I forgot to explain ). Its simple wave count we have done with imaginary moves for Nifty but if you want to alter elliott counts you can start at Point (A) of ABCD pattern, that Elliott count is also correct. So based on patterns,Elliots, Trendline we expect upmove in Nifty till resistance but we will find out soon what happens... I may be wrong or right in My view ! BottomLine : Usually Newbie's will kick themselves and scold their luck, No Guys.. It Just happens,part of trading Game. None does something willfully against you knowing your strategy or to takeout your stops ! Its all our absurd imagination... Stay Strong in Trading Game. It's all psychology !

Nifty : Catching the Falling Knife !Hi Guys ! Yes, going against the trend is catching the falling knife, but if you have the skills, there won't be any fear. From the Nifty chart we can clearly see that there is cypher within Gartley. I expect the cypher to give Gapup open today. If the cypher fails & support is also broken, we do have another potential Gartley completion around 8620's. Those who are trailing stops on short trades, will enjoy Nifty if that happens. Just another note, some believe that if there is support or resistance zone is marked Nifty should bounce like ball after hitting the zones. No Guys, its just an area on chart where Nifty can take a break,relax and regain its stamina to proceed on any direction, sometimes Nifty or any other scrip broke support/Resistance in seconds. That doesn't mean its not working. Hope this clarifies about support / Resistance. Happy Trading !

Nifty : Will Double Top & Gartley work Together ?!So, just by one quick look on the chart you will be know about the beautiful Gartley {updated yesterday morning, so I'm not sure how many of you noticed} and Potential double top formation. We predicted Nifty will taking off after Fed's but turned out to be profit booking & boring day. I don't have much expectations today also.Nifty may be ranging within 8900's - 8840's. The trade setups we have today are : (i) If Double Top confirmed with Bearish Reversal - Short Nifty (ii) If we find support at zone marked in green with Bullish Reversal - Long Nifty We have Simple 5-wave Elliot completion, charts will look messy if I draw everything on Nifty. So left it out. Pattern & Double top completion increases confidence only, doesn't mean 100% winning potential. How easy it is... I want Nifty to be this easy everyday, Just under 180 seconds Flat, analysis is over for the day.

Potential Bullish Gartley - Mahanagar Gas LTD Long Entry @ 600 Target @ 622 SL @ 583

Gartley Pattern - Carin India Bullish Gartley Pattern is formed on Cairn India. It's time to go long. RSI is also showing bullish divergence. Long Entry @ 191 Target @ 199.50 Stop @ 185

Reliance : Gartley with an ABCD to go short !We have resistance zone in Reliance from 1067's to 1075's, and in the same area we have bearish gartley completion along with ABCD completion. As mentioned in chart itself, it just increases our confidence or to validate setup ( our direction of trade). But that wo't give assurance that it will be successful trade in Reliance. Happy Trading !

Nifty :Crab to Grab, Gartley to catch, Elliot to Watch ! 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 !

Bearish Gartley - BAJAJ ELECTRICALS Bearish Gartley pattern is formed. Short Entry @ 279.50 Target @ 261.00 SL @ 287.50

Coal India : A Step or Two Ahead... Potential Gartley !Enter short positions in CoalIndia , only if there is valid bearish confirmation around 331 zone After Target-1, you can either trial stops or reverse the trade bcos of Bullish Gartley If coalIndia shoots up in resistance zone, dont enter short positions.

DAX (Weekly Chart)The structure of Bearish Gartley (marked blue) and Bearish AB=CD (marked green) suggests an end of honeymoon period for bulls. With ECB meeting scheduled today and INDEX:DAX trading around 10,750, there can be short opportunity in the range of 10,800-10,950 for the target of 9,300-8,800 with the stop loss of 11,500.

Nifty 50 : Potential Gartley & Bat pattern In Nifty we have two potential patterns, when there is potential patterns bcos of greed we tend to trade CD moves, its really bad habit. You should not trade CD move during your learning phase of patterns. The safest setup is to trade after pattern completion from D point. In Nifty, a week before we had more than 300 points in 10 days just by patterns but that doesn't mean that pattern is winner everytime, we should realize that fact. The above patterns may or may not complete. If it completes I will trade this setup else I will look for other trade setups. Its simple as that but don't take positions just based on Belief that it will work,its bad for your capital ! Lets wait for pattern completion....If no, lets search next trade setup !

Nifty 50 : Hearti'ley Gartley - Expecting Gap Up !Happy Monday Guys ! With 29 mins to go before Nifty goes live for the day, It will be thinking as " Shall I Gap Up for the day ?? " " What I can do to surprise them ? " . We are getting back to back patterns, we had Bearish Cypher which resulted in fall of Nifty & Bullish Cypher which kicked the price for Gap Up on friday right on Target-1 and Now, we have Beautiful Gartley and bcos of that reason I'm slightly biased towards Gap Up and hitting minimum Target 1. So this Nifty ranging will give Gap Up and reach our targets ? Let's see... Happy Trading !