Back in 2010, I was still pretty much at the abyss of my career despite spending several years into Stock Markets. In those moments of despair, I went to Shirdi alone sometime in October.
To my surprise, it wasn’t much crowded that day.
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So I managed to spend a few hours near the shivling there. And al that time I remember I was only asking to show me the way.
Nothing happened right away or even for next several weeks but I continued to stay receptive and wait positively.
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A few weeks later I found my Elliott Wave book from my bed box that I had bought in 2006 but never managed to finish reading as I always got stuck with the difficult chapters.
To me, this was a major cue. And so I started reading it right away and would read every morning.
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I continued reading it for several weeks and I think I read it 3-4 times until I began to get a good hang of it.
While I was still at it, another thing happened. Someone sent me a LinkedIn invite. Had never heard of it, but the receptive mode was on. So I hopped on.
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While surfing LinkedIn, I came across their groups and reached a group called Algorithmic Trading. Had been hearing about algorithms those days but had no clue. I was never into programming, but this time I joined the group just to understand what’s happening.
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Back in those days, much different from now, people had good discussions within groups and many people also helped each other. So in one of the discussions, I came across someone talking about Ninja Trader. I took no time in checking that out. To me these were serious cues.
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So net on net, after several Months I zeroed down to two things: Elliott Wave and Trading Algorithms. That was the beginning ..
Can never thank enough.
Om Sai Ram 🙏🏻
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With US Dollar Index #DXY seems to be bottoming and US 10 Year Yield #US10Y seems to be topping, the Macros appear to be in place to disrupt the Equities.
However, I must make certain things very clear.
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One, the Inter Market Movement is not exactly point-to-point. That is, if DXY & US10Y turn on a particular day, it doesn't mean that Equities also turn on the same day itself. The past experience shows that there can be a lag or sometimes a substantial lag of up to 1-2 Months.
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In 2020 only, US10Y topped out on 31st December 2019, where as Equities made the turn only after 20th Feb 2020.
Secondly, there can be a further lag between the US Equities and the Emerging Market or India in particular.
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#GOLD INR / #NIFTY Ratio Chart.
Gold is likely to continue its outperformance against NIFTY.
FMCG Index / NIFTY Ratio Chart.
Retracted from the Multi-Decadal horizontal resistance, thereby implying that FMCG's outperformance vs NIFTY is facing a very significant obstacle.
IT Index / NIFTY Ratio Chart - Crossing above an IHS neckline. Could well lead going forward.
2. Now, Add and Subtract yesterday's H-L Range from the Pivot.
1005 -/+ (1025-975)
= 1005 -/+ 50
= 955 - 1055
This 955 - 1055 becomes the Zone.
And, 955 - 1005 - 1055 become 3 important Levels.
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3. Now come to the Current Day's Intraday Price Movement:
IF Price Crosses Above 1055
OR Price Crosses Below 955
THEN there's a 75% chance it doesn't come back to the Pivot of 1005 during the Same Day.
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