Wednesday, February 19, 2014

Nifty clears "6130-40" after a time consuming tussle would move to 6180-50dsma holding above 6130..

Nifty Intraday Update-III


Nifty Intraday Update-II


Nifty Intraday Update-I


Nifty Pre-Market View.

Prices reached a MT avg-6142, 100dsma & paused.
For the day, there are crucial numbers @ 6110-6113 below which weakness towards 6085-79.
Resistances @ Month pivot-6158 above which 6185, 50dsma.
Prices sustaining 6142 would indicate negation of a bearish Flag pattern.
EW:
A simple 5 unfolding from 5985 with "iv" in progress(Red).
OR
"iiird"Wave is sub-dividing as a 5 from 6052 with (i) completed @ 6139/6142 and (ii) in progress; hence, monitor the last rise retrace of 6052-6139/42.
The moment you feel/ say you're carrying a heavy trade, it would only mean that you are not following any method but reckless with your positions or you are not confident about your method but have lots of doubts due to your inability to adjust/ change positions should the price behave in an opposing way.
Always trade with optimum size.
Always trade with a time frame(t/f) that is suitable for you and maintain a SL based on a retrace strategy of that t/f.
Always follow your own plan.
Always part book.
Always remain open to "other" possibilities as you're not the only one who attempts to outsmart the other.
Always measure your level of anxiety/ exuberance to know your fear/ greed levels.