EOD 15th March

Candle Stick Pattern :

I feel Evening star Formed today. Bearish in nature .

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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 .

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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. 

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 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).
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Camarilla Update .

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

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