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, 20 March 2012

EOD 20th march

Let me start with a day chart where various ema s are plotted ..

For last rise 5 Ema took support at 34 Ema , Now again it is touching 34 ema , tomorrow we will see if this results in another rise or a fall .
Keeping a watch on hourly close and hour high and low ema will be equally important .

5 Day ema again below 10 day ema . Indicating -ve bias .
We did close above hour low ema , but we have to close above 5 hour ema and then 5 high for any trend change presently.

Positional it is a short , as the prices still closed below 5 day close ema . .

EW possibilities

If we look at Fibo % ..
If we are done with W4 at 5171 and are in W5 then
We have done 78.6% of last rise . If we go above 80% then possibility that we are in W5 to up gets invalidated  , probability of being in 'C' to down increases .

things I will keep an eye on 21st March.

5day ema and its positioning with 34 day ema .

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