Quick update. 5 week FLD has been crossed generating a target of 5350. So I was short from yesterday because of the expected 2.5 week low expected Friday/Monday. I covered most shorts at 4950 Nifty TODAY - I was very clear on this and the rationale behind it. I also started to go long because the FLD has been crossed today and we can anticipate close to 5350 soon. Charts will be posted tomorrow.
Best,
Lee
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2 comments:
lee,
did the cross happen intra day? I guess the close must still have been below the 5 week fld?
Chandra
Sir,
Is the FLD crossing sustained @ EOD for the target of 5350?
What should the stop loss for the trade?
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