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.



Friday 21 September 2012

Ganpati Bappa Morya!




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EOD 21 sep

Hour trend is up  with momentum .

I see a -ve divergence in hour charts as well .


When we see the 5th wave fractals From low of 5534, one last leg ( 5th of 5th ) seems to be remaining . Did short during the day , but then closed the position with 20 points loss today itself . Wanted to carry the position , looking at
 channel top , Hour TA being OB as well as Day TA,   -ve divergence and a pin bar candle on hour charts at 1 but did not have courage to carry the position .Will wait for Monday open , If we go higher than 5720 , with -ve divergence in 5 mins charts then will short again , while mainting the divergence in hour charts  .