September 21, 2016

Market outlook

Daily charts:
- trend is up on daily charts
- trend likely to reverse
- confirmation will be break of 8500
- strong resistance at 9000 levels

5 min charts:
- possible trade arrows are shown in green
- today the big bar indicated by black arrow was an important bar
- this bar have a sense of what to expect as there was lot of selling on this bar
- first buy arrow can be ignored; only 2nd and 3rd are reliable bars
- trailing SL gets hit fast and trade reverses to sell

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