September 28, 2016

Market outlook

Daily charts
- trend is up on daily charts
- markets continue to trade in a big range
- immediate support 8700 and then 8500
- below 8500, I would consider trend reversal.

5 min charts
- shorted in first circled area, covered shorts in second circle
- went long at breakout (arrow) and covered in 3rd bar (breakeven).
- hourly breakout traders shd have gone long at arrow and covered at close (breakeven)
- in hindsight, best trade would be long in second circle and cover at close.

No comments:

Post a Comment

Share this...