March 19, 2014

Intraday analysis

Initial bias was weak as the first 5 min bar opened gapup but closed near the low.

Got a buy signal (arrow) around 10.50 as candlestick closed above recent swing high (small line). This failed as markets failed to sustain above day's high.

Rectangular box represents shorting opportunity. But considering the fact that markets were rangebound and the day's low 6535F was nearby, it made sense to do nothing.

No trading opportunity later on as markets did not cross the day's highs/ lows later in the day.

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