Monday, October 27, 2014

Trading Wisdom - Basic Preparation


Anonymous@V said...

good suggestions ....only problem is adhering to them......timing and anticipating is all that matters.....technical analysis=timing and funda check= anticipation....keep updating sir....wishing you a successful profitable year ahead....

AAR VEE said...

Low of 7723 was made in last session 17-10-14 before this comment

UPDATE : 19-10-2014 :

1. Complex corrective from top of 8180 is on.

2. This may be IV-3 or may be larger 4th wave correction. (as in charts above)

3. 50dma was broken convincingly and now last 2 sessions 100dma is supporting . (The trading range mentioned in hrly chart got broken bringing in short term weakness).

4. Correction unfolding is a combination corrective most likely a-b-c-x-a-b-c (Flat-x-may be zz) as of now .

5. Now close above 50dma may signal a likely end of correction and above 20dma as confirmation of it.
Similarly break of 100dma may extend the correction further to 7650-7590 zone.

October 20, 2014 at 12:29 AM

AAR VEE said...

UPDATE 02-11-14

1. As mentioned above and in probable count last post, we did IV-3 at 7723 low ( flat-x-zz), moving up above 50-20dma we got confirmation of end of correction and a firm move above last high of 8180 justifies V-3

2. Now this fast upmove from 7723 can be taken as V-3 and may find positional target in 8425-8550 zone. Right now we may be in the iiird of this V-3.

3. Next week is a truncated week with two trading holidays. We may trade range bound with upward bias and may trade in the 8250-8450 broader range.