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, 4 October 2012

EOD 4th Oct 2012

-ve divergence persisting in Hour TF and still developing in day TF as follows

Day TA is OB and -ve divergence presently , last RSI high at 97.4 , if with prices making HH RSI goes above 97.4 then -ve divergence vanishes . If not now is no time for shorts one has to wait it out . I am not available tomorow to trade .If it comes then I will miss it .

5 Day ema at 5729 , weakness only below this . Other #s to watch
Today's low at 5751.55 and Day high ema at 5747.

Presently prices showing no weakness.

Accordingly we still have (iv) (v) to do within iii , where iii will be over and then iv and v to complete the 5th wave . That would complete the 5 waves and then correction . IFF during all this process the -ve divergence persists with Day TA , OB we will get a golden opportunity to short for good gains . As the correction will be for the move from 5216 to the new high of 'C'.


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