Last close 5146 .
clearly month , week , day , hour trend is up.
Day TF says
5152 is Day high ema , which may act as resistance and if price s cross this and trade above it , then will act as support and will be a good zone to go long as Day trend is up as we are closing above 5 Day ema .
Hour TF says ,
Also we closed just below the hour high ema , and if Prices resist here at 5148 lvls then we may again see a range bound day . Between high and low ema of this HOur TF
So depending upon where the prices are opening , one can gauge , if it will be a trending day ( we open above hour high , and day high bias of day will be positive and if we maintain that as the low of the day or take support in the zone 5140-5160) .
Or we are for a range bound day if we open below the zone and maintain that as high of day .
anyhow 5140-5160 is the zone , and prices opening above or below it will give further cues.
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Over the weekend , I was looking at day charts , and observed that days when Day open is either the high of day or low of day ...those days chances of successful trade is high on orb break .
Like if Day open = Day high ( ORB high), and ORb breaks the low then " shorts" are more likely to survive and vice versa.
I don't know if this really works , I would like to watch this over next weeks to come to see if this works .
I truly feel that looking at old charts and then thinking I can figure out where to go long and short and all this is easy , but when Live market is unfolding it is altogether a different story .
All the best to all of you out there , who want to make it "Small" here :) like me.
clearly month , week , day , hour trend is up.
Day TF says
5152 is Day high ema , which may act as resistance and if price s cross this and trade above it , then will act as support and will be a good zone to go long as Day trend is up as we are closing above 5 Day ema .
Hour TF says ,
Also we closed just below the hour high ema , and if Prices resist here at 5148 lvls then we may again see a range bound day . Between high and low ema of this HOur TF
So depending upon where the prices are opening , one can gauge , if it will be a trending day ( we open above hour high , and day high bias of day will be positive and if we maintain that as the low of the day or take support in the zone 5140-5160) .
Or we are for a range bound day if we open below the zone and maintain that as high of day .
anyhow 5140-5160 is the zone , and prices opening above or below it will give further cues.
------------------------------------------------------------------------
Over the weekend , I was looking at day charts , and observed that days when Day open is either the high of day or low of day ...those days chances of successful trade is high on orb break .
Like if Day open = Day high ( ORB high), and ORb breaks the low then " shorts" are more likely to survive and vice versa.
I don't know if this really works , I would like to watch this over next weeks to come to see if this works .
I truly feel that looking at old charts and then thinking I can figure out where to go long and short and all this is easy , but when Live market is unfolding it is altogether a different story .
All the best to all of you out there , who want to make it "Small" here :) like me.
