May 22, 2014

Intraday analysis

There was one buy signal which failed... now while I have plotted the signal, this is only for academic purposes.

One should not attempt intraday trades where the broader trend is getting progressively narrow and when markets are not giving any clear direction. Normally what happens is markets tend to trade in previous day's range so this limits trading opportunities.

Where the range gets small, it makes sense to stay out or look for opportunities near the outer limits of the range.

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