kkarank
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Hi ,
I am working on my paper trading and would like some QA on my analysis .
Step 1) I looked at the one month ADX for BA and it is showing ADX around 40 and the DMI+ significanltly above DMI- This indicates an uptrend ?
Step 2) Identify if I should go long/short in the short term as the price range is high for BA.
For this i first look at today's chart and see that
a) CCI is below 100 which means that it might be a good time to go long as the long term trend is bullish ?
b) momentum indicator reads -5 and this to me means that the recent rally upwards is loosing steam .Is this correct ?
c) the 5 day chart confirms points a and b above.
Steps 1 & 2 above tell me that since the monthly trend is bullish i have a good trading opportunity.I now need to find at what price i should place the long order.
The daily/15 min chart is here -
What i would like to ask is that in this chart the DMI- line is above the DMI+ line - does this mean that the price is likely to fall further before a bounceback ?should i wait or place ther order at the current price of 435 ?
Thanks all.
I am working on my paper trading and would like some QA on my analysis .
Step 1) I looked at the one month ADX for BA and it is showing ADX around 40 and the DMI+ significanltly above DMI- This indicates an uptrend ?
Step 2) Identify if I should go long/short in the short term as the price range is high for BA.
For this i first look at today's chart and see that
a) CCI is below 100 which means that it might be a good time to go long as the long term trend is bullish ?
b) momentum indicator reads -5 and this to me means that the recent rally upwards is loosing steam .Is this correct ?
c) the 5 day chart confirms points a and b above.
Steps 1 & 2 above tell me that since the monthly trend is bullish i have a good trading opportunity.I now need to find at what price i should place the long order.
The daily/15 min chart is here -
![untitled.jpg](/proxy.php?image=http%3A%2F%2Fwww.mypixspot.com%2Fmembers%2Fkkarank%2Fimages%2Funtitled.jpg&hash=01c53af70aca2b798eea2c0ad2fa3769)
What i would like to ask is that in this chart the DMI- line is above the DMI+ line - does this mean that the price is likely to fall further before a bounceback ?should i wait or place ther order at the current price of 435 ?
Thanks all.