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.

Tuesday, 11 December 2012

EOD 11th Dec 2012

My HW for the day , read once more about characteristics of impluse waves with guidelines make notes .

Day trend intact with a close > 5DEma .

Clear 5 waves from the top today at 5965 to 5865 , so for tomorow I am keeping the retracements of this down move handy .

 From   To   Fall/ Rise  0.236%        0.38                 0.50 0.618% 0.736% 0.80%
5965 5865       100    5,889    5,903             5,915    5,927      5,939      5,945

Price > 5945 would mean we are in 5th wave
If we start to retrace from the zone 5927-5945 then might be in C.4 ,
and we will not go below 5348 which is top of C.1

-ve divergence played out well today , a 100 point move.

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