WaveTalks

WaveTalks

Updated 

This what I am going frame in my home...perfect picture...It followed the path exactly as shown in earlier updates but lost my patience otherwise I would have taken 32 pips as I was short right at the top.....Regards, Abhishek H.Singh,CMT

WaveTalks

Updated 

Pair has almost completed its another up leg in the zone 109.40--109.45.. Momentum Indicators are slowing down so let us be ready for the fall in the zone 109.01--109.08 where the current rally from 109.789 to 109.44 gives 61.8% retracement & possible support zone. This fall(if happens as expected) could be picture to be framed. Let us wait & watch. Trade with...

WaveTalks

Updated 

It indeed looks impulsive structure as we are moving closer & closer above 109.30 we shall confirm that USDJPY has started its uptrend.... Trading Strategy --One can take long positions with short term target as 109.25--109.31...once pair reaches zone of 109.25-109.31--we should book & wait for retracement in the zone 109.01--109.05 for targets 110.15--110.20....

WaveTalks

Updated 

This is how one should be very fast in taking decisions because market kills if you are against or trading in opposite trend to market. Once I realised that 108.98 is the consolidation base for flag pattern & was looking out for upside target 109.25--109.35 but realised that even 1-2 Hrs the pair was struggling to move above 109.10 & I immediately updated to put...

WaveTalks

Updated 

I was very clear from my last update that we shall go short only if 108.500 is broken downside for risky traders & safe traders could have gone short only below 108.120--Thanks..I was saved from assuming that market is still bearish ..well I could have taken bearish stand only if 108.120 was broken which never happened & the pair is almost retracing close to 80%...

WaveTalks

Updated 

USDJPY-- a....b...c.correction is done & we are into impulsive leg down which started@109.733 high made a 107.836 low & took a u-turn making retracement high@108.789 shown by thumb which hit the upward slanting trendline-which is sign of polarity reversal as support at "b" turned into resistance- this is how trendline can act as magic wand. Trading Strategy: ...

WaveTalks

Updated 

We are yet again at important resistance which has been running since 9119 High made on 5th March 2015- which could be again a bull stopper. Last week was very exciting as market once again turned everyone bullish. Once should be careful here not to add any longs until you get a close above 7980. If 7517 is broken in coming days then it could be hard for bulls to...

WaveTalks

Updated 

India Nifty is about to retrace after travelling from 7517 to 7715 (whopping 200 points upside rally) & USDJPY is about to start some bit of down movement.....Bonding so strong for both of them....USDJPY just went very close to 108.43- I guess i will take that point as c-wave end.Both are on the verge of falling. so let us enjoy.

WaveTalks

Momentum Indicators are slowing down so one should book complete profit in longs as per previous update & can go short for partial targets of 7635(38,2% retracement of up leg from 7517 to 7709) & taking care of risk managment ...can book complete @7585--7595 (618% retracement of up leg) only if Nifty dips below 7675 with strict stoplosses of day's high.

WaveTalks

Updated 

That's the power of an impulse wave....I again visualised this last saturday that prices are crawling & not falling...so be careful...No shorts for longer targets...these are few words which has been used by me during my previous updates...Any movement above 7570 ....It made a top@7677.......My piggy bank is full...Thanks almighty for blessing me with this...

WaveTalks

What is our current position in USDJPY Since the pair hit low@107.68--It has been moving zigzag up & down so many times & prices are moving into triangular shape- which could be plausible scenario -in that case we should be ready to sell below 107.50( but have patience currently as the structure is incomplete-incase you trade incomplete structure -there are...

WaveTalks

Updated 

Bang On....Intraday ...We booked 20 points also taking short@7540 --Booking@7520 as mentioned in previous updates. You know how bomb explodes & sound which is generated...same here...I was expecting the same.....Bang On.....(Well Intraday I Booked 100 + exactly at rock bottom means 7520--7530..Not posted)........Regards,Abhishek H.Singh

WaveTalks

Updated 

The leg which started from 7765 on RBI policy day could be nearing its downleg & sooner it will start its upside leg. Look out for prices to move above 7570...In that case one can look to book in the zone 7625--7635.

WaveTalks

Updated 

Trendline running from W came as lifeguard -once it got resistance in the zone 108.25--108.40. I took short on opening candlestick @108.14 for previous low targets of 107.65...we shall exit here our long call as per previous update.

WaveTalks

Updated 

Since UJ made 107.665 low- it has been moving into consolidation & toughest one to crack- even the best of best traders get confused but let us leave that apart & move forward. If we get close above 108.50 which is important resistance for UJ & faster retracement of the same falling leg would be 2nd clue to confirm that second leg-X wave is in place & we shall...

WaveTalks

Updated 

The Bounce back as expected from 107.68 was true but prices hovering around 108.60 for quiet some time suggesting that we could have W-X-Y structure . Where are we standing currently- a-b-c for W is complete & currently X-wave triangle is going on which is incomplete & could be a challenge for traders because price will swing in narrow range before it breaks out...

WaveTalks

Financial Markets never move in straight line & if you are able to guess the movement on bigger picture- you can play in shorter durations. On 1st April 2016- I guessed that in all possibilities we shall halt this up move which started from 6825 to 7765 giving us Y-XX leg. Look XX leg is falling exactly on channel top. Since 7765 Top--we are almost 220 points...

WaveTalks

Updated 

USDJPY- Bang On……..300 Pips Profit ….I am in seventh heaven Let me wish all of you & your near ones a happy and prosperous new year as per hindu tradition(Vikram samvath-falling 8th April 2016). Excited! Me too…Why not if you make 300 pips in 3 days in the most volatile pair USDJPY- I feel like I am in seventh heaven which came on such a good time when I shall be...