March 11, 2016

Market outlook + my trades

Daily charts
- trend is up on daily charts
- today markets close flat/ form a doji
- VIX down 5%
- strong resistance seen around 7500-7600 region
- immediate support 7400 and then 7200

Hourly charts
- trend is up
- reversal level 7400 F

5 min charts + My trades
- shorted on first arrow
- covered loss and went long on second arrow
- booked profits in second box
- did not trade next short trade and long trade as I was out
- traded short trade (4th box).

Some mistakes... first long trade qtty did not match qtty of first short trade. If I had done this, overall profit would have been higher by 6K. Also, there was a delay in placing the first long trade.

Overall it was a rangebound trading day since none of the previous days levels were violated so it was fast trades and fast profit booking.

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