August 3, 2018

Market outlook

Daily charts:
- trend is up on daily charts
- today markets closed 1% in positive at 11360
- AD was 2:1
- option writing support 11000
- my guess is next support will be 11300

- above 11400, expect a move of 150 points

5 min charts:
- I was very bullish today morning
- yesterday's decline had flat AD and bullish option writing
- today gap up was a buy signal

My trades:
- bought 40 lots of 11400 CE in 2 accounts
- my average SL was 10 points trailing at any time
- exited all shortly after 2 pm

- profits would have been higher by 15K if positions closed by 3.20 pm

- product code OCO (one cancels other) means I enter trailing SL AND profit target at time of placing buy order... this gives me a lot of intraday leverage. But I think I will trade CO (cover order) next time as I can manually change the SL.

15 min charts:
- trend is up
- see this month's range 150 points

- above 11400 expect 11550.

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