April 7, 2016

Market outlook + my trades

Daily charts
- trend is down on daily charts
- reversal level 7800
- option writing support 7500 resistance 8000
- today there was a big drop in 7500 open interest
- VIX dropped 3%
- expecting good support in the 7400-7500 region

Hourly charts
- trend is down
- reversal level 7655 F

5 min charts
- trend is down for past 2 days
- today markets failed to open gapup or above prev day's high
- initiated short positions as per arrows
- did not trade after 2pm

My trades
- first 4 trades as per arrows gave highest profits in day
- total position 3600 at this point... 900 for every arrow
- last trade was loss... last trade in any trend is usually a loss.
- stopped out from shorts and covered all profits... profit around 35K
- next 2 trades were loss making .. position size 900 per trade
- got fed up... did nothing afterwards.
- ended day with 23K profits after adjusting losses.
- was not in market from 11-12 so missed the long trade.

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