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.



Sunday 9 September 2012

10th Sep 2012

  FIBO. RETRACEMENT TABLE              
From To Fall/ Rise 0.00236 0.38 0.5 0.00618 0.00736 0.008
5449 5216 233 5270.988 5304.54 5332.5 5360.041 5387.488 5402.4
 

Channel :

We have broken the downtrending channel cearly and have been now in upward channel ,
this is a very steep channel , will have to wait for some more time to draw it ,

Retracement s :

As we see , 5360 is 61.8 % of last fall from 5448 to 5216. we have done 5366 on sat.
and 5402 is 80% , So clearly anything above 5402 is clear strength.

And one trade that I can see presently is short close to 5387 with 5403 as SL .


Ew wise from 5216 we have done 5 waves ..as
Indicators :

Hour TA has reached OB region with last 2 days action .


50 and 20 MA are at the same value , they have been giving FF and FR .This time is it fast fall ? Only time will tell .

 



My inference is ,
We are close to completion of 5 waves , so a correction is on cards . Gap may act as support if there is any correction . Breaking 5309 would be the first sign . If not then 5402 must be broken for further upsides .

Day TF has one strong possibility as