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, 5 July 2012

EOD 5th July 2012

Chart Pattern :

We have a Bullish Engulfing today in day charts . With that I also see that we have not yet broken out of the upper trendline as seen in the chart below



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Trading 5th July 2012

At 9:45 AM ,

We opened close to previous day close and
ORB says 5289-5302.

Also developing hour hour low ema is at 5289 .
30 min ema is also at 5287.

Support for the day lies at 5287 lvls and if we break this , then shorts can be taken with day high as SL.

Yesterdays high is 5307 breaking this lvl would suggest some upside so Longs can be taken with day low as SL .

Drawing TLs on different TFs and using that as trailing SL helps


P.S.I am not trading today , due to some personal work  .
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