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 15 March 2012

EOD 15th March

Candle Stick Pattern :


I feel Evening star Formed today. Bearish in nature .

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I have been keeping track of Hour high and low Ema's Intraday and see that if followed with Discipline the it works most of the time  ..Especially during the trending moves .
here is a snap shot of excel file ....
 

Camarilla Lvls for 15th March

We opened at 5467 ...Which is between H3 and L3

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Stock nameNifty15th March 2012
Open 5,491.00
High 5,499.00
Low 5,438.00
Close 5,463.00
HL5 5524.28Immediate upside target after Break Out
HL45496.487Break Out on the Upper Side
HL35479.743Go Long above these
LL55401.72Immediate lower target after Break Out
LL45429.513Break Out on the Lower Side
LL35446.257Go Short Below These
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Scenario 1: Open price is between H3 and L3
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-
To enter long position (i.e. To Buy)o Wait for the price to go below L3 and then when it moves back above L3,
buy.
o Stoploss should be placed when price moves below (L3+L4)/2.
o Targets : Target1 = H1, Target2 = H2, Target3 = H3
To enter short position (i.e. To Sell)o Wait for the price to go above H3 and then when it moves back below H3,sell
or go short.
o Stoploss should be placed when price moves above (H4+H3)/2.
o Targets : Target1 = L1, Target2 = L2, Target3 = L3

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Now that we have gone below L3 which is at 5446 ...now we wait for the prices to move avove 5446  , if that happens we buy with SL= 5438 and T1=H1=5470 ;T2 =H2 5475 ; T3 = H3=5479.