August 11, 2017

Market outlook

Daily charts
- trend is up on daily charts
- faster reversal of previous rally hints at trend change
- NF closed 1.1% in negative
- today we had a big gapdown but flat closing (doji)
- AD was 1:2 which is much better than yesterday (1:8)
- this means bulls are stepping in to defend 9700

5 min charts
- first hour low held for some time
- rising wedge was a short trade
- but target too close
- considered a long trade in circled area but got stopped out
- did nothing thereafter

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