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 21 August 2012

EOD 21st August.




Hour charts are continuing to show -ve divergence

Likewise day charts also are continously showing -ve divergence  .

But my HI lo system says a buy at 10:00 on hour charts  today morning with a close above hour high ema , 34 MA( 30 mins ) with 20 points SL.
If you feel that was risky , then buying on break of 5400 could have also worked today .

The Day trend is up with momentum with a close above Day high ema ,

and the Hour trend is also up with momentum with a close above Hour high ema.
I have no positions as of now .
If divergence has to play out , it will indicate by closing below hour high ( 5409) and then a close below 5 hour ema (5404) , untill then its a buy.
5393 is Hour low ema and Day high ema .