This is my trading file to organise and jot down my take on the market .I do Technical Analysis. This blog is to keep track of my baby steps so that I can look back at my journey .Looking back tells me how far I have come from days when I knew nothing and can go further .It gives me motivation to keep going on even when I am tired. One has to back up trading with their own studies. The charts I post here are 99% inspired from Ilango sir.



Tuesday 13 December 2011

Outlook for 14.12



As we see in the above chart , the MA bands suggested a buy towards the end of the day As the Pink signal line crossed above the 5 High ema ,and  the rally from 4730 lvls to 4820+ lvls.
In the EOD chart below the signal is not yet triggered. Tomorrow as the prices move above the low ema presently at 4810 lvls  one can looking at hourly charts also , look for a good entry to buy.

+ve Divergence was seen , in Hour chart with 9 Rsi , 14 Rsi , Fast macd today and the rally followed it .
9 Rsi moved from below 20 mark above it .

Fast Macd is yet to trigger the buy signal , I am keeping an eye on the signal line , it is very close to 0 line ,if you see it is just below it.As signal line crosses the 0 line it is considered bullish.Let us see if it crosses tomorow.
Fast Stochastic is poised as if it is just about to cross the signal line , yet another thing to keep an eye on .

Emas have a bearish allignment . Shorter term emas are lying lower than their higher term emas .
What I understand is if we see upside direction tomorw then it will confirm the MA cross over , also will support the +ve divergence and macd signal line will do zero crossover.