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, 3 April 2012

EOD 3rd April 2012

Yet another day passes with the longs safe , applying 10 points filter .
Today with price action there is crossover of 5 day ma and 10 day ma , indicating further bullishness.

Day Fast macd which was about to enter the +ve zone , has done so today . Which we also call zero line crossover , indicating bullishness again .

moving averages suggests no weakness in prices ...nifty has closed well above 5 day ema .

 But I see -ve divergence in hour charts , also we are at the upper trend line ..which tells me to be cautious with the long positions .

Keeping my eyes on this setup , which is giving probablility of fast fall with 20 and 200 MAs on hour charts .

No comments:

Post a Comment