April 8, 2016

Weekend update

Weekly charts
- trend is down on weekly charts
- I have drawn expanding triangle
- breakout from triangle will be super bullish
- retest of lower trendline will mean new lows

Daily charts
- trend is down on daily charts
- support area 7400-7500
- option writing resistance around 8000 levels
- today markets closed flat, AD flat and VIX down 3%

Hourly charts
- trend is down
- holding above 7600 F can lead to some strength

5 min charts
- boxes show areas of short trades
- overall a rangebound market

My trades
- 5 trades today of which 3 were profit making and 2 loss
- last trade was responsible for overall loss.
- loss is approx half percent of capital.

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