Wednesday, November 26, 2008
WHAT A DAY
Markets never broke the 2630 levels given b4, tested the base and then moved straight over the pivot 2690 for a run for the resistance ie 2750-60 zone..HOWS THAT FOR A RANGE CALL...The bias seemed distinctly negative today to many , and they went short , got trapped and had to pull the STOP LOSSES in the end ..longer timeframe in intra day charts was warning from the morning of a move up, despite negative cues,thats why had cautioned friends visiting my blog to be careful of this volatality and that will damage the mind and pocket...anyhow good profits again for intraday traders(a few of my friends included , trading with me today) following technicals/ charts..lets see , tomorrow again is a new day..cheers.
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2 comments:
As you said , i saw advance decline ratio and it was around 1:2 .. so i thought market should be negatively biased and i went short (after confirming from charts , RSI and slow and fast stochastics) .. but got Stopped loss and had loss)
Also because of fear i didnt initiated long position at the end .. what are my mistakes ? please guide ..
manish
manish , i am putting up a note in the blog so all can read and maybe use it sometime..cheers..
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