Indian Charts: Dollar analog::--Suggests much lower targets for the dollar.

Tuesday, February 21, 2012

Dollar analog::--Suggests much lower targets for the dollar.

Just looked at the dollar chart and observed that it has got much similarity in this down move with the down move last year. I have marked similar points with same colored figures. RSI, MACD and even Bollinger band is behaving in same way .

If that works out well, and dollar has much lower to go. In that case NIFTY might fly to greater heights without a good correction .
We might see 6000 without a good pullback.

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Words of WISDOM

"The reason is that a man may see straight and clearly and yet become impatient or doubtful when the market takes its time about doing as he figured it must do. That is why so many men in Wall Street, who are not at all in the sucker class, not even in the third grade, nevertheless lose money. The market does not beat them. They beat themselves, because though they have brains they cannot sit tight."

---Jesse Livermore

"What beat me was not having brains enough to stick to my own game – that is, to play the market only when I was satisfied that precedents favoured my play. There is the plain fool, who does the wrong thing at all times everywhere, but there is also the Wall Street fool, who thinks he must trade all the time. No man can have adequate reasons for buying or selling stocks daily – or sufficient knowledge to make his play an intelligent play."

--Jesse Livermore

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Tuesday, February 21, 2012

Dollar analog::--Suggests much lower targets for the dollar.

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