August 2, 2018

Market outlook

Daily charts:
- trend is up on daily charts
- today NF closed 0.9% in negative at 11245
- after the breakout, this is first day of lower high lower low
- AD was flat (good sign)
- correction of 100-200 points possible and is healthy for the markets

- gap at 2018 high breakout (27 JUL) to hold
- option writing support 11000
- swing low at 10900




5 min charts:
- shorted on first arrow
- booked profit around 11300
- missed short trade on 2nd arrow
- shorted on 3rd arrow
- tight SL gave minor loss



Trade summary



15 min charts:
- trend is down

- use 5 bar high/ low as trailing SL

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