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.

Monday, 9 July 2012

EOD 9th July

We opened below the TL mentioned in last post and also yesterday's low making the bias for the day -ve. Making a dip to Blk TL possible as  mentioned in yesterday's post  .

.Also at 10:00 hour TA was poised as
Here 5 - 10 Cross over happned along with a close below hour low ema . Increasing the Possibilities of prices going down .

Now with todays close weakness in hour TF has spread over to Day TF with a close below 5  Day ema  . 5261 is day low ema which was support today , if we break this then Downward momentum will pick ...and we may see prices touching the Lower red TL as seen in te hour chart.

In very simple way ,
If we open above the blk TL seen in the hour chart , bias will be UP and if we open below it or break it then bias will be down probably to touch  red TL.
Presently HOur TA down and momentum missing , Day TA turned down but momentum missing .

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