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, 17 July 2012

EOD 17th July

We are trading with in the channel drawn  . Breakout above will be a buy , one has to wait for that.

Day TA ,, hour TA trend is down ...

Hour TF says
HH ema ( 5210)
34 Ema on 30 mins TF ( 5218) .
5ema (5200)

IF we break the black TL tomorow then idea of long gets thrashed . 5160/5140/5125 comes as next support.
 So UP it is , If we hold 5210 . Break out of falling TL ( green) with volumes .
And break of low today ( 5182-5180) takes us to support of 5160 and may be further down .

 I see +ve divergence in hour charts , prices have to confirm by breaking the channel top ( Green channel ) As seen in the above chart

For going Long :
As and when this 5-10 cross over takes place , my eyes will be on close above HHema and holding of close ema /Low ema on hour TF .

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