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.



Wednesday 12 September 2012

13/9/2012

-ve divergence is  invalidated in the hour charts Macd (  34 5  5 ).
14 rsi and fast macd still showing the divergence .


Clear strength seen in hour charts , day charts , week charts and month charts. .

Trending Up with momentum in all TFs
  .
5448 last top , and 5430-5450  major resistance ahead , lets see how prices behave around that level .

Today's closing also bullish , closed almost at day high 5431.

When indicators are at extreme reading ,then watch out for ORB ,it is a good guide .Hour TA is OB ,I will keep a watch on ORB, day TA started to form a -ve divergence. Keeping a watch on Macd(34 5 5) , divergence and orb

Also 5458 is 80% of fall from 5630 to 4770 .