October 18, 2017

Market outlook

Daily charts
- trend is up on daily charts
- today, NF closed flat
- AD was negative
- swing low support 9700
- option writing support 10000

- has a cluster island reversal formed over 3 bars?
- gap down opening below 10175 (10200 F) can lead to correction

5 min charts
- traded long in first circled area (SL hit... loss 7K)
- traded short now... wrong trade (SL hit... loss 3K)
- traded long again but 50% less qtty... net loss for day under 1K

- if I had held first long trade till EOD, I would have been in good profit but the break of 10200 upset my calculations. This was actually a trap for shorts and a good opportunity for fence sitters to jump in and buy.

My MTM book

My order book...

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