February 17, 2011

  • EURUSD four hour chart with resistance line.
  • Resistance line drawn above has worked quite well till now.
  • If price gets stalled here this line can give a correction again.
  • Range resolved on the upside.
  • Bank nifty futures is trading near 50 day moving average.
  • If price sustains below 10900 we may see a correction.
  • Break above 50 dma will give good up move.
  • 15 Minutes shows a range which should be resolved for a clear direction to emerge


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My Favourite Quote

"All through time, people have basically acted and reacted the same way in the market as a result of: greed, fear, ignorance, and hope. That is why the numerical formations and patterns recur on a constant basis."
—Jesse Livermore