August 8, 2011

CHART-III UPDATED
CHART-II UPDATED
  • Click the chart to read the description.
CHART-I
  • ES 15 Minutes is showing a descending Triangle pattern.
  • Price staying below 1161.50 will favor bears to extend the down move.
  • Breakout of the upper line should also stay above 1189 for a meaning full  up move to happen. 
  • AAPL is moving towards its 50 DMA.
  • 362 is also an important support level.
  • For bears price should close below 362 and 50 Day Moving Average.
  • Getting support at these levels by not breaking 50 DMA will favor bulls of AAPL.
  • ES 15 Minutes is showing a descending Triangle pattern.
  • Price staying below 1161.50 will favor bears to extend the down move.
  • Breakout of the upper line should also stay above 1189 for a meaning full  up move to happen. Then there is the cloud in hour time frame which is the bigger resistance cross.
  • Price has been staying below the hour cloud for a long time now without testing it.
          WEEKEND POSTS
CHART-III
CHART - II
CHART - I
  • Description given in chart. Please click the chart to enlarge.
  • CRUDE OIL CHART UPDATED
  • Conclusion : If price continue to Close below 5 Day Low Ema it is safe to hold shorts. But indicators are showing oversold readings, in that case If price close above 5 Day High Ema a long trade will be profitable.
  • NIFTY WEEKEND UPDATE
  • S&P 500 WAITING FOR THE DEATH CROSS

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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