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 9 August 2012

Aug 10 2012

Hour trend down with a close below 5331 ( H5ema)
We have closed below Dhigh ema(5331) , day 5ema being 5302 , opening below the DHema / P would suggest possibility of prices going to 5302 .
on hour chart 5-10 bear cross also happened today at 14:00 hours.

EW wise Day Chart


Hour chart



tomorow we see which probability plays out wave 3 or a flat.
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Intraday Aug 10th 2012

Above is 5 mins nifty chart ,As long as trading below the black TL , no longs only on break of this TL one can take a trade.

Here is the day chart .


2 comments:

Prakash said...

Good morning Madam
As per the chart TL broken. Up move continue. Right madam.

Smita said...

@ Prakash.Pol,

The last chart posted is Intraday 5 mins chart. so any trade would be for intraday only if we look at 5 min charts .

As far up move in hour and day frame is considered , prices should stay above the trendline joining 5630 , 5348 for the upmove to continue . I have added another chart where I have drawn this TL in blue.

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