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, 8 October 2012

EOD 8th Oct

So finally the -ve divergence is confirmed with prices going down below 5 Dema and closing also confirming the loss of  momentum and bearish engulfing also confirmed.

Down move from 5815 is a 3 wave structure till now , 
from 5815
a 5815-5706=109
b 5706-5752=46( 42.2%)
c* going on T1=.618(a)=67 pts =5684 ( We have already done this today ) T1=a=5643 If we go beyond 1.618 % of a downside then we will have to count 5 waves from 5815 down .

We presently have sell on day TF as  well along with hour TF .

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