Hello friends, I am Aditya Pathak. I am full time working in software industry. I came in trading because I wanted to open a second source of income. My trading journey started in 2008, 2-3 month before the RPower IPO. The first stock I bought was the Jagran Prakashan. I kept it for 2 weeks but it never gone up. I was totally a kid for stock market but that time I did not do the intraday or FNO. I kept my self involved only in delivery based trading because at that time I did not have capital for FNO. First Phase: Like any other trader I started to gain the basic knowledge of technical analysis. That time YouTube did not have technical analysis training videos, so I started to learn with website like Investopedia etc, My delivery stocks were doing good but I was in hurry so I thought, I should try intraday trading. I sold all my stocks and with that money I started the intraday trading. Because I knew nothing abo...
I hope you know what is cup and handle pattern. If you do not know then visit this link . Here I am talking about Inverse Cup and handle that is the opposite of Cup and Handle Patten. We should carefully check that, the second low should be lower than the first low of the Inverse cup. If this happens then it removes probability of Elliot wave formation because it violate the rule one i.e. Wave 2 should not retrace more then 100% of wave 1. Valid Inverse Cup and handle: Invalid Inverse Cup and handle: If we consider this as Inverse Cup and Handle pattern and you are hoping that price will go down then you are wrong because Clearly it is forming the Elliot wave. The move that you considering the handle of cup is the starting of wave 3.
As I explained in my last post " My Trading Journey " that I attended the 2 days training with Mr. Mukul Agrawal in December 2018 and after that training I was feeling confident for the technical analysis like I never felt earlier. I started the trading and I was able to generate the profit too, but one bad day/trade, was making a big dent on my account and I was not able to understand why it is happening? Elliot wave was in my back of mind so I was constantly searching YouTube for some good videos over Elliot Wave. I found one video of Mr. Sanjay Sinha. He explained that Glenn Neely worked on the Elliot wave and tried to remove the subjectivity and given a new name to his study called Neo Wave. He suggested a book called "Mastering Elliot Wave" that cost RS.4000 so before investing big money I searched for a less costly option then I found a video of Mr. Ramkrishnan(RAMKI). He written a book "Five Waves to Financial Freedom". This book ...
Comments
Post a Comment