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 7 February 2012

7th Feb 2012

With a Gap up it seems that we have done the 5th wave of fifth within the 3rd wave ...
here is the chart.




But shorting now is not advisable.One has to wait for the prices to close below the Hour low ema which at 10:00 close is at 5345.

The iv of 3  ended at 5076 so if this is  wave 4 we can go uptp 5076 lvls or if that is not held then the 1st wave ended at 4801 . 

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