November 8, 2017

Market outlook

Daily charts
- trend is up on daily charts
- today NF closed 0.4% in negative at 10303
- AD was 1:2
- swing low support around 10100
- option writing support at 10000 and res at 10500

- after any rally, a correction of 2-3 days is fine.
- let's see if support comes around between 10100-10200 levels

5 min charts
- 10380 F was yesterday's low and retested as a support
- since markets did not tank, I considered long position
- I traded only the 2nd and 4th arrow
- just before 12pm, I covered long at arrow no 3
- similarly covered long at arrow no 5 
- took short trade once day's low broke
- covered around 3 pm when trailing SL got hit

- long trade gave small profits while short trade went well

- in hindsight, short trades near arrow 3 and 5 would have given best profits

Just for reference... kplswing indicator on 1 min chart

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