THOUGHT FOR TODAY——————————Real RenunciationOn the path mapped out by the true spiritual philosophers and pioneers, there is great emphasis placed on the idea and need for renunciation. It is seen as the way to enlightenment, and freedom from the attachments which we misuse as sources of limited happiness and contentment. Renunciation does not mean giving everything away, shaving our heads, saying farewell to family and friends and finding a Himalayan mountain top. It means seeing our attachments and dependencies, our weaknesses and our evasions, and consciously giving them up. There is no sense of loss. The material necessities still come to us, paradoxically more will come. And when we renounce our own weaknesses and dependencies there is always a strength and new freedom to be found hiding underneath. Renunciation is a pathway to a simpler life and a highway to spiritual freedom – one of spirit’s deepest yearnings in ‘the age of accumulation’.
Nifty Future
(Updated on 12-12-2012 at 07.20 AM)
Yesterday written crossover above 5961 Nifty fut might
move above 5989.
Nifty fut made high at 6002.85.
Also mentioned if breaks below 5922 expect 5892.
Nifty fut made low at 5897.55.
Now for Today………..
Above 5940 Expect 5952-5960.
5960-5698 is hurdle zone for intraday.
Crossover above 5968 except blast up to 5980-5993-6008.
Break below 5915 will trigger selloff up to 5903-5892-5884.
If not able to take out recent high at 6003 and remain
below 5980 and closes below 5876 then expect to fall up to 5802-5775.
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Bouncing on support at 1.2875. • EUR/USD has successfully tested the key support at 1.2875. Resistances for a bounce are given by 1.2973 (07/12/2012 high) and 1.3046 (04/12/2012 low). • The underlying trend is negative (see the succession of lower highs since May 2011 peak). Therefore we expect limited upside potential given the strong resistance at 1.3172 (17/09/2012 high) and the overall overbought conditions.
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Inside Bar Chart Pattern
Effect of Inside Bar
Any Within it Bar (Bullish) indicates a possibility reversal of the current downtrend to a new uptrend. The pattern is definitely an sign of the fiscal instrument’s SHORT-TERM outlook. Two-bar patterns mirror changes in investor psychology which have a very short-term impact upon future prices – usually less than 10 bars. Often the immediate influence is trend exhaustion and additionally oftentimes, a reversal. For investors looking for evident entry and exit aspects, our patterns provide well. These are normally not suitable because signals for long-term investors except if viewed as monthly taverns.
Story
Any Inside Bar is a reversal formation characterized from a bar which forms totally in the trading array of the above bar. Inside Bars reflect a balance stuck between buyers and sellers following a sharp up or perhaps down move, and is at times later on solved from a change in trend.
Trading Factors Inside Bars can feel either Bullish or perhaps Bearish hinging on the way of the inbound trend. If in case the inbound price trend is up, then upon identification of a Inside Bar, taking a short position or perhaps selling a long position is advised. Conversely, if the inbound price trend is down, then on recognition of a Inside Bar, taking a long position or perhaps closing a short positioning is recommended. Seek out verification wearing a trend-line break.
The degree that the price bars and volume qualities match this description could likely feature a bearing in the resilience of the post pattern price movement. Good trading training dictates which our signals cannot be utilized in isolation: fundamental information, area and marketplace evidences and various other technicals for example support/resistance and momentum tests must be utilized to support your trading decisions.
Factors that Supports
The sharper the trend above the pattern, the more effective.
The wider the 1st bar and additionally its immediate predecessors in relation to previous bars, so much the better. This is certainly evidence that the strong root momentum of the prevailing trend has got climaxed and additionally can dissipate.
The smaller the 2nd bar relative to the broader range of the 1st bar, the more dramatic the change inside the buyer/seller balance and subsequently the stronger the signal.
Volume on the inside bar must be noticeably lighter when compared to compared to the above bar because it indicates a more balanced situation.
Main Behavior
Some kind of Inside Bar indicates a weighing of sentiment between buyers and sellers soon after a sustained up or down move. In the Inside Bar’s second day, especially through a drop in volume, you are watching a drop off interesting in this instrument. The balancing usually causes a period of sideways price movement, however a reversal can be done.
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