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 6 January 2012

EOD 6th Jan

Stop loss for all shorts would have triggered today ..mine as well
In no trade right now ...
Time Frame
  1. Hour time frame trend is up
  2. Day time frame trend is up .
  3. Week time frame , trend turned up today with close(4754) above week 5 ema (4748).
Channel :

There is a channel resistance at 4830-4840 zone.

Prices

Prices did close above Hour high ema but just by one point . Monday 10:00 close will give more clear direction if at all it is up...
If it closes down then I will wait on sidelines for a good set up to emerge.
4769 is the day high ema ..if prices close above this lvl and maintained for monday then "buy' will generate for me.


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6th Jan 10:00 hour Close

AT 10:00 Close ..it looks like going down looking at High and low emas with respect to close prices ...in hour and day time frame.

Yesterday's Sell generated at 4740( as prices closed below Hour low ema) is also in profit .


Closed below 4741 (5 close hour ema)
Closed below 4722 ( 5 Close Day ema)
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