April 25, 2016

Market outlook + my trades

Daily charts
- trend is up on daily charts
- strong resistance around 8000 levels
- today was first proper day of lower high lower low.
- immediate support 7780 and then 7500 spot
- a correction to form a higher swing low is expected

Hourly charts
- trend is down
- reversal level 7980 F

5 min charts
- break of initial trading range was short signal
- further short trades possible as per arrows
- cover on big bar within second box or
- exit on 12 pm bull bar also possible

My trades
- long trade in call was an error - loss 1K - realised/ corrected error fast.
- highest possible profit in short trade was 18000
- because of trailing SL and small range, profit was eventually 7500

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