May 13, 2015

  • Silver triangle discussed yesterday has broken in favour of bulls. Price is moving away from 200 Day SMA.
  • Next hurdle for silver bulls is the weekly cloud. To change the larger trend of Silver price must move above the weekly cloud.
  • SILVER Triangle pattern: CLICK Here

    • Nifty for now is in a range between 7961 and 8355.
    • Last chart shows the Anatomy of a Swing trade. If one had taken a long trade close to 7900 levels his longs are safe for now as the Stop loss is hidden below the strong support zone. But the 200 Point fall will scare away many traders. Now here comes the Main part and Why trading is tough -  If there are not enough shake outs, price may come down further and violate the support zone before going up again. So one has to remain Dynamic and have enough Capital to Re-enter. 
    • If one watches patiently they can see Many shake outs in Intraday charts and they give the best trading opportunities as well.


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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