Question 1 June 2011 : Is it Safe to Take This Buy Trade?

Please Watch it carefully and answer
Question  : Is it Safe to To Enter In This Buy Trade(encircled) around 11 am ?Give Answer With reasons
Hint : Read 1 June 2011 post

1 june 2011 :Do Not Take Buy When Overall Market Is in Sell

Look at encircled Area

It was 10.19 am  when software gives buy Arrow . Feature 3 and 4 + Histogram are supporting BUY . Now question  arises Should be take BUY trade here?

Lets us look carefully.
1. Market is below Euro Line (851.4)
2. Market is below Yearly Investor Trend Line , Monthly and Daily . All lines are acting as Resistances .
3.Around 10 .20 am Green Dotted Line was almost parallel But  Blue and yellow were moving downwards.
which shows overall trend is of SELL

Answer is :This BUY is NOT SAFE
Conclusion: when all lines are resistances and overall trend is of SELL , NEVER enter in BUY trade

Happy Trading
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