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.

Wednesday, 13 June 2012

Obervations for 14 june

All low emas in TT are alinged in increasing order .
Also the 5 emas are in increasing order ...
Now we have to wait for high emas to be also in increasing order , so that we can say a top is formed .
all of them infact are in increasing order expect for the last hour hour high ema which is less than the previous value . Day Pivot being at 5120.hour high ema at 5134
5121 is 5 ema , and we have closed right at 5121 .5109 is Hour low ema now a close below this can be used as shorting opportunity .
and a close above 5134 , a buy .
presently SS in OB region
I see -ve divergence in hour charts with 14 RSI  , Fmacd and SS indicators .

we have a spinning top formation today eod , which is indecisive , after a bullish engulfing day before .

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