Hour trend is up with momentum .
I see a -ve divergence in hour charts as well .
When we see the 5th wave fractals From low of 5534, one last leg ( 5th of 5th ) seems to be remaining . Did short during the day , but then closed the position with 20 points loss today itself . Wanted to carry the position , looking at
channel top , Hour TA being OB as well as Day TA, -ve divergence and a pin bar candle on hour charts at 1 but did not have courage to carry the position .Will wait for Monday open , If we go higher than 5720 , with -ve divergence in 5 mins charts then will short again , while mainting the divergence in hour charts .
I see a -ve divergence in hour charts as well .
When we see the 5th wave fractals From low of 5534, one last leg ( 5th of 5th ) seems to be remaining . Did short during the day , but then closed the position with 20 points loss today itself . Wanted to carry the position , looking at
channel top , Hour TA being OB as well as Day TA, -ve divergence and a pin bar candle on hour charts at 1 but did not have courage to carry the position .Will wait for Monday open , If we go higher than 5720 , with -ve divergence in 5 mins charts then will short again , while mainting the divergence in hour charts .
3 comments:
Would that be positional I mean the shorts?
People are talking of 6300 lvls Do you expect dip before.
Also kindly post Lema Hema Values quite useful.
raju4u ,
I see weakness developing in hour charts , in the form of
1) Divergence .
2) 5 the wave about to complete .
3) Trading at channel top .
BUT , prices are not showing any weakness , I dont know about 6300 lvls , but presently what I see in the charts is what I have jotted down.
These shorts If trigger tommorow then with a close below 5 Dema only shorts can be positional . Otherwise above observation should be used for trading only .
5689 is hour high ema , a close below this will support the above view . 5681 is 5Hema , 5665 is hour low ema .
Day high ema is far away from the current prices at 5617.
thanks got clarified
Post a Comment