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 24 January 2012

Lvls to watch on 25th Jan

Price zones / levels that need to be closely watched ...

Monthly trend is Down .
Weekly trend is Up .
Daily Trend Up
Hourly Trend UP.

Hour close Ema @ 5119. As long as prices close above this hour trend will remain up .

Indicators suggest OB for some time now . Also -ve divergence all over the hour charts ...correction will come soon I feel but when ?

For now weakness if prices close below Hour close Ema with some volumes that is 5119.
The Hour low Ema @ 5104 .
Day TF says

Day close Ema @ 5044 , DHema @ 5058 and DLema @ 4995.
Now if we keep a filter of 15 points to HLema in Hour TF then it comes to 5089.
Monthly Pivot 4792
Week Pivot 4980
Day Pivot 5106.
Shorting opportunity once prices close below 5089.
Some Charts :

Prices are trading at the channel resistance ...