March 14, 2014

Intraday analysis

Initial bias was bearish... the bullish close of the first bar did not lead to any further buying and the candlestick patterns in the first box set the stage for a short trade.

This short trade got stopped out in the second box... thereafter markets failed to correct and traded in a range.

Crossover above day's high led to creation of a long position (second arrow). ... this trade gave nominal profits.

Note that below 6520F, markets should have tanked but did this not happen. This is important as it sets the tone of the broader market.

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