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, 10 July 2012

EOD 10th July

We started with a positive note today morning with open above yesterday's close .
At 10 :00 with a close above HHema , it indicated momentum is Up in hour TF . At 12:00 With a break of yesterday's high and 5 - 10 hr ema cross over  , buy signal generated for the day. Which gave good returns.

Channel is intact as seen in the day and hour charts below

Hour and Day trend are up with momentum added .

My understanding says we will shart showing weakness again near the red UTL and hour TF will show the weakness if any , and that would be good opportunity to short . Presently we are going up according to the EOD hour chart .

Hour hi lo and 34 ema ( 30 min TF) sheet .

Divergence :

I see -ve Divergence in hour charts as well . High possibility is open for going down if the Divergence is not negated while the prices make higher high and touch the upper trend line of rising wedge.

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