April 5, 2016

Market outlook + my trades

Daily charts
- trend is up and will reverse on close below 7550
- today markets down 2%
- fast move in opposite direction usually hints at trend change
- we also have highest OI at 8000 call meaning limited upside.
- so if markets cannot go up, they will go down or trade sideways
- put writing support 7500 (minor).



Hourly charts
- trend is up on hourly charts and will reverse on close below 7600 F
- a minor swing low around 7700 has already been broken.


5 min charts
- break of initial trading range was short signal
- I was short within first 15-20 min
- covered around 7660

NOTE: there was no follow thru buying for 11am bullish hammer so I shorted some more.



My trades:
Average trading day despite a neat one way trend.

Poor execution.

While entry was perfect, the trailing SL left lot to be desired. Ideally, realised profits should have been around 2 L.

Overall a poor trading day in terms of what I earned vs what the market was throwing at your face.


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