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 27 March 2012

EOD 27th March


We did close above the reqd conditions at 2:00 . But the move at 2:00 closing was toooo fast , If one would have known to take positions on break of 5230 ( upper trendine of falling wedge)then profitable/Otherwise avoid taking positions during such sharp and fast moves and wait for prices to settle down.

EOD close 5243.15
We did close above 34 ema on 30 min TF and above hour 5 ema  but we did not close above hour high ema ( 5250) . Which does not suggest to take long trade .
We have closed below 5 day ema (5257).
As per me bias is -ve.