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 7 June 2012

1-2-3 Strategy / EOD 7th June '12


Let me start again after a long gap updating this blog with this 123 strategy I came
 across today . After reading it looked quite simple to follow so followed it in live market .

One can read about it at http://www.tradeprofitably.com/The_1-2-3_Breakout_Trading_System.html

this gave me clear 20 points today in a long position taken around 12:46 time and trailing the SL.

The black line after 2 shows the entry point at 5028 .
and then subsequent TSL.

EOD 7th June
Important Lvls for the Day 7th June EOD
Day TF Values Hour TF Values
5Dema        4,964.3 5Hema 5038
5Hema           4,983 5HHema 5047
5Lema           4,910 5HLema 5028
Day Pivot 5039    
21 hr MA 4960.7    
34 Hr MA 5005.9    
10Dema        4,942.3    
Last Close 5050

 
Day and hour trend up  and we have closed above DHema as well HHema indicating upside momentum gaining strength .
5 Dema has crossed over 10 Dema indicating bullishness.
Also to watch is that 20 MA is approching 200 MA . It will result in Fast fall if 20 turns down soon ( chart below )
and  If 20 crosses over 200 then more upside.