May 31, 2018

Market outlook

Daily charts
- trend is down on daily charts (or up?)
- today NF closed 1.1% in positive at 10736
- AD was negative at 3:5
- note huge trading range from 10400 to 11000
- note daily charts will not give clarity about trend because of this big range

- I suspect we may see rangebound market for some time
- we may have a triangle forming... 1st leg done, 2nd forming... 3 more to form.




5 min charts:
- I will be using kplswing for demo purposes
- some signals have to be ignored
- you will learn this over a period of time
- today, there was a buy signal on open
- ignored as this bar attracted selling
- took the third buy signal
- since this was expiry day, traded with a very tight SL
- got stopped out too early
- note that the indicator never gave a sell


15 min charts
- trend is up with SL at 10640





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