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.



Thursday 22 December 2011

EOD 22 Dec.2011

Prices :


MHema 5321      
  WHema 4941  
  DHema 4726  
  HHema 4712
  HLema 4675
  DLema 4619  
  WLema 4689  
MLema 4732      


I see that All the high ema s are lined up in decending order . Low ema are all shuffled up .

As Hour Low ema has moved above the Day low ema I see that Hour trend is UP and its very close to being more that Week low ema . As that happens weekly the trend will be UP . The direction is UP.
 Monthly and weekly low emas are lined up alright .
For now I can say if the Green box continues to go above purple and blue the trend will be UP.
I will follow this everyday to see if I can derive something out of it .

Moving average Band


Above chart is 20 hour high and low band plotted n hourly chart with 5 and 10 MAs .
A buy signal is generated, As we can see here the signal line ( Red ) crossed the lower band(yellow) at about 4590 lvl and also at the same lvl  5 ma crossed 10 ma (Green) . 
At present is confortably placed well above 10 ma as a trailing stop loss we can keep a watch when 5 ma again crosses the 10 ma.Nifty has already travelled ~130 points after the signal was generated .

Trendline / Channels

The Slow macd has crossed the 0 line and moved up , indicating prices to go up .
Prices have broken the channel as well and now trading outside it.
There is +ve Divergence as well present in the chart .