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 3 February 2012

waiting on sidelines

Waiting on sidelines for a clear trend to emerge ...
Prices are closing below Hour high ema but too close ...so unable to take any positions . I want to short the market ...but this time will strictly go with discipline...will short only once the price close below the HLema / Dema..

Waiting for the prices to close below the Hour Low ema ..


                                                        Open       High                  Low             Close        5ema                 10ema      HHema     HLema

2/2/2012 10:00          5,272          5,288          5,270          5,283      5,234      5,210      5,243      5,218







2/2/2012 11:00          5,283          5,290          5,245          5,274      5,247      5,222      5,258      5,227







2/2/2012 12:00          5,273          5,280          5,226          5,271      5,255      5,231      5,265      5,227







2/2/2012 13:00          5,271          5,282          5,258          5,276      5,262      5,239      5,271      5,237







2/2/2012 14:00          5,276          5,288          5,251          5,261      5,262      5,243      5,277      5,242







2/2/2012 15:00          5,261          5,280          5,250          5,260      5,261      5,246      5,278      5,245







2/2/2012 16:00          5,260          5,278          5,260          5,270      5,264      5,250      5,278      5,250







3/2/2012 10:00          5,276          5,279          5,259          5,267      5,265      5,253      5,278      5,253







3/2/2012 11:00          5,267          5,274          5,256          5,272      5,267      5,257      5,277      5,254







3/2/2012 12:00          5,272          5,278          5,265          5,270      5,268      5,259      5,277      5,258








EW  says we are in some corrective am not able to give any #s presently.