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, 15 March 2012

EOD 15th March

Candle Stick Pattern :

I feel Evening star Formed today. Bearish in nature .


I have been keeping track of Hour high and low Ema's Intraday and see that if followed with Discipline the it works most of the time  ..Especially during the trending moves .
here is a snap shot of excel file ....

Last 6 columns are the signal to go short ( red column)  or Long ( Green) . See the red column ,  Like today we see at 10:00 it suggested to sell at 5436 as the prices closed below 5hour ema and 5 hour low ema . For a sell , If prices close below 5hema and 5hlema then the 3rd red column will have a 1 ..which says sell at that hour close .

 SL for any position taken should be 20  and keep trailing it if position is in your favour . For Intraday 20-30 points are very good for me .

But this will whipsaw in a side ways market and will give good returns in trending market .

Moving average :

We closed at 5380 below 5Dema (5383) . Most important signal considered to be in a short position .
The weakness for the day started with 10:00 close .
5 day ema is turned down towards 10 Dema now we should  keenly watch these two moving averages ...If now 5 day ema starts to rise wrt to 10 day ema then up we go , Else if this crossover takes place then down we go .
For the whole day today on 5 mins charts , 34 min ema was good resistance and did not let the price go above it . This can be combined with the above system of Hourly close , I mean 34 min ema can be the trailing stop loss in the above system .

So with today's close HOur trend is down , day trend is down  by closing below the 5 ema of respective TF and we have closed below all the high ema s ...bringing  sell on rises in the picture .

prices took support at DLema around 5362 lvls . And lcosed below D5ema , so IF we break this 5362 lvls tomorow morning and at 10:00 close below it , I am going to sell as such momentum is down. 

 EW :

I feel we are in 5th wave of this upmove from 4531 that is If we are done with 4th at 5171 in the form of a ZZ.
5th wave started from 5171
1  5171 - 5499 = 328
2  5499-5362 * =  137 ( 41.7%of 1 )
we may be left with this 2nd and then 3rd to up .

Otherwise If we are still in 4th wave then I see a 3 wave stucture in A 5171 which mean s a flat is in progress and this B should retrace back to almost the starting of A in 3 waves form ..Also this A was a ZZ so guideline of alteration says B will be flat ...of which B.a is done and now B.b going on ( looks like it looking at MAs).

Camarilla Update .

This is my interpretation , I may be totally wrong ...



dayakar said...

Dear Smita,
Kindly explain the strategy of hi lo ema. what is 1 and 0. after initiating trade at above Hema or below Lema what are targets. kindly guide me.
thank you

Smita said...

Dayakar ,
In respective Time Frame , Hi Lo ema strategy says to go "Long"
1) If ( prices close above the 5 period close ema ) AND ( prices close above 5 peroid High ema).
Condition 1 Is (prices close above the 5 period close ema )=1
Condition 2 Is
( prices close above 5 peroid High ema) =1 .

If both the conditions are met then there is a "1" in the third column , otherwise it is "0".

Vise versa for going Short. If both conditions are met then there is "1" in the red 3dr column .

Stop loss is 20 , and target can be defined as per support or resistance for Intraday If all goes well .
Otherwise one can carry the Long position as long as "1" is there in the 3rd column (of red).

Hope I was clear to clarify what you wanted to ask.

best wishes

dayakar said...

Dear Smita,
You really enlightened me. i was struggling to remember different parameters. this is nice way.
Thank you very much
best regards,

Smita said...


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