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 17 January 2012

Update on Longs

SL for the buy done at 4942 is 4964 presently developing HHema. This is to save the capital .

17th Jan Observation .

Prices resisting  at 4950-4960 lvls.
Momemtum seems to be missing .
We are closing above HHema since 10:00 today morning though .

A good -ve divergence is seen in 14RSI hourly charts.

35D stochstic in 'OB" region and Prices trading at channel top

Prices should fall anytime now , I think.
EW perspective we have done the 5th also ...
I am presently Long since 10:00 today morning as prices closed above HHema and still maintaing that ..today's open = Low .
but still feel prices will drop soon .