August 28, 2017

Market outlook

Daily charts
- trend is up on daily charts
- today, NF closed 0.5% in positive at 9911
- doji was formed
- AD was 2:1
- note very strong resistance around 9950-10000
- swing low/ support 9700




5 min charts
- opening above yesterday's high and hold 9885 was a bullish sign
- initiated 3 long trades as per arrows
- covered first 2 long trades in circled area
- last long trade was a loss



- best exit ideally was around 9940 F... this would have given MTM of 18000.
- this did not happen due to a silly mistake on my side
- mistake was not drawing resistance line as per 60 min charts (shown below).



My MTM sheet
- not good
- should have been at least 18-20K


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