January 12, 2018

Market outlook

Daily charts
- trend is up on daily charts
- today NF closed 0.3% in positive
- AD was negative
- trading range was large resulting in formation of "hanging man"
- this can have bearish implications if markets trade below 10600 next week
- option writing support 10500

5 min charts
- breakdown from range was sell signal
- I did not take it happened near resistance area
- missed the fall from 10670 to 10610
- there was a warning from sudden increase in 10700 OI (rarely ITM options gain in OI)
- traded long as per arrow... decent profits

No comments:

Post a Comment