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.

Friday, 15 June 2012

Observations for 18th June

Candle pattern :

We have a white Marubojo , indicating bullishness .
And EW wise accompnained by 3rd wave . more upsides.

Trend in different TFs saying
Hour trend up
Day trend Up
Week is up
Today's closing makes the month trend up as well .

Closed above mondays pivot 5118

Prices indicating only upsides from here ...

Indicators on hour chart are showing -ve divergence .

Price clusters ( support / resistance)

It becomes very important to cross this5140-5150 zone for now and then  5170-5190 zone for further upsides .

Fib retracements .

 From   To   Fall/ Rise  0.236%        0.38        0.50 0.618% 0.736% 0.80%
5630 4770       860    4,973
   5,200    5,302      5,403      5,458

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