February 22, 2016

Market outlook + my trades

Daily charts
- trend is down on daily charts
- today markets closed marginally in positive; AD was positive
- there is gradual compression of trading range
- expecting a correction to form a higher swing low

Hourly charts
- trend is up on hourly charts
- swing low around 7100
- rough rising wedge pattern seen

5 min charts
- rangebound trading throughout the day
- breakout from range did not attract any new buyers

My trades

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