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 3 October 2012

4th Oct 2012

-ve divergence persisting in the hour charts ..

 
Prices making  higher tops and macd is making lower highs as seen in the charts . -ve divergence persisting since  5650 as marked in the charts .But prices are maintaing the close near the highs and above Day Ema and DHEma ..I have already lost  a few points trying to trade this divergence  ...Now no shorting till we get a close below DEma presently at 5699.
21 Hr Ema at 5714.
34 Hr Ema at 5700.
Hour low ema I feel is susptible to whipsaw , so putting my trust with 21 / 34 hr ema and Day Ema .
Below 5700 weakness and confirmation of -ve divergence . One more Confirmation could be Fast Macd crossing zero line on Hour TF .