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MA contraction and subsequent price expansion |
saikat
White Belt
Joined: 31 Mar 2008
Posts: 317
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Post: #1  Posted: Tue Nov 11, 2008 1:24 am Post subject: MA contraction and subsequent price expansion |
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Hi,
I always look for MA confluence, and it happened so nicely during friday afternoon. Just see how close all the EMAs came together and today.... we just took off. All hourly candles having HL - wow!!
confluence is always a good entry point - but ONLY after the breakout direction is clearly visible - don't mind missing 30-40 odd points - but a sure shot 150-200 points.
Now we may head towards 3270-3280 NF where we had last swing top and as well as 200 hourly MA. And then to test 34 EOD EMA at 3315 around.
Lets see..... and always go with the trend.
Regards
Saikat |
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hdobhal
White Belt
Joined: 19 Dec 2007
Posts: 162
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| Post: #2 Posted: Tue Nov 11, 2008 6:08 pm Post subject: |
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Really?
Read my post in Nifty Analysis - A picture is Worth a Million Words
Happy Trading |
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