December 31, 2012

 

  • APPLE Daily chart nearing 20 day sma.
  • Immediate resistance level at 534 levels
  • For bigger up moves price must break the 4 Hour cloud and the falling resistance line.
  • COCA COLA CHART ANALYSIS
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  • EURUSD Previous resistance level continue to act as support.
  • Daily chart nearing 20 Day SMA.
  • 4 Hour chart shows price near 38.2% Fib level which may act as support.
  • FORD MOTOR BREAKOUT
  • DEATH CROSS OF DOWN JONES
  • COCA COLA CHART ANALYSIS
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  • 15 Minutes of nifty chart shows price contraction.
  • Breakout or breakdown could lead to a bigger move.
  • One should also expect a failed breakout too to reverse the trade appropriately. Failed breakouts often lead to bigger moves.
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  • Nifty month charts shows price getting resisted by multiple resistances like. Upper bollinger band, 78.6% Fib level and Multiple resistance lines. Bulls need to trade above all these levels to continue the up move.
  • For bulls the entire month candle stands above the Month High EMA. So the month High EMA area will act as crucial support level.
  • Daily chart is showing an inside day pattern But the range in which price is trading will reduce the effect of candlestick formations. So one has to wait for this range to get resolved for bigger moves to happen.
  • DEATH CROSS OF DOWN JONES
  • BANK NIFTY LIVE CHART- 5 MINUTES TIME FRAME
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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