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.



Thursday 12 July 2012

Trade plan for 12th July

So we open gap down , courtesy  the bearish candle pattern formed yesterday .

We made a low of 5234 and are maintaining that till 10 close ,
i have drawn a TL from the high today at 5262  , as and when we break this TL , along with ema crossover of 13-34 ,I will enter longs with day low as SL.
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Update at 12:30 Crossover on 5 mins charts never happened , and day low broken .This break did not give chance to enter as 2 mins candle shows high ( 5240) and low ( 5227). Trading below day low ema so downward momentum in on bringing lot of weakness in prices ...
Rising wedge , bearish "harmami" , all working together .

Stepping out for the rest of the day .......

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