Retracement strategy, a must for traders.
1 week ago
Friday, June 8, 2012
BN's channel resistance comes @ 10020-60 for consolidation, if any..
If the rise to 11227 was "a", then the rise from 8995, being "c" wave should be more bullish than the "a".
Any failure along the way should caution you of "deception".
But as of now, prices are trending firmly and there will be corrections to the current rise which should be managed with trailing stops.
Hour trend changed the day trend and the day trend is "changing" the week trend.
Hour TA, Overbought, would show weakness below 9870.
But as of now, prices are trending firmly and there will be corrections to the current rise which should be managed with trailing stops.
Hour trend changed the day trend and the day trend is "changing" the week trend.
Hour TA, Overbought, would show weakness below 9870.
Thursday, June 7, 2012
BN, uptrending in day T/F with momentum, eyes WHEma/MEma @ 9820 (Also the 50% retrace)
Consolidation channel resistance comes @ 10050. A consolidation at that point would make it more stronger for a break-out.
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Wednesday, June 6, 2012
Tuesday, June 5, 2012
Monday, June 4, 2012
BN, closing below 5 sma 3 days ago, trending down towards 8800 zone.
Any fall below 8800 would confirm a major bearishness.
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