April 16, 2014

  • Amazon weekly chart shows price at the rising support line.
  • Weekly stochastic looks oversold. But price yet to confirm a reversal candle.
  • Hour chart continues to favor bears as it trades below the cloud. for bulls of amazon price need to stay above the hourly cloud.
  • GOLD One hour chart shows  a bearish flag pattern.
  • Price sustaining below 200 Hour SMA and cloud will favor gold bears. 

  • Bank nifty daily chart falls below 5 Day Low EMA after a long gap.
  • MACD Lines in daily time frame looks weak But price needs to stay below 20 day SMA For this setup to work well for bears.


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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