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.
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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