March 11, 2014

Intraday analysis

Today was a difficult day as the trading range was relatively small.

First bar was bullish.... this bullishness got fizzled in next 15-20 minutes as markets broke the day's low (6560F) but recovered immediately. When you have a situation when day's low breaks but candlestick closes well above day's low, it means buying is happening.

The box area shows inability of fresh buying happening ... the first bar is the correct short trade though I shorted on completion of second bar.

None of the trades were profitable due to the bigger support at 6520F. Tomorrow, expect weakness only if this level breaks.

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