August 17, 2015

NIFTY futures intraday charts

- no follow thru buying for Friday's session
- nifty drops 120 points in 5 min but the bar close was halfway
- this big bar (master candle) high low was not crossed during the day
- so if you had a short position in the first 5 min, you made money  otherwise nothing to do
- still, I lost money today thanks to short position in 3rd/ 4th bar which got stopped out later on.
- in hindsight, I should have waited for breakout from master candle range - simple rule at times like this.

Hourly charts - difficult to interpret here but this elliot wave post shows more correction.

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