September 6, 2018

Market outlook

Daily charts:
- trend is up on daily charts
- today NF closed 0.5% positive at 11537
- AD was 10:7
- highest open interest now at 11400 put, 11500 put.
- highest addition at 11500 put and then 12000 call

- 2 hammers in a row
- is the correction is over? I think so

5 min charts:
- today was a difficult day marred by problems in trade executive at exchange level
- first long trade got stopped out at loss
- 2nd long trade was profitable
- but I made the stupidity of adding more positions at day's high so when I got stopped out the overall profits were lower

- the channel was drawn afterwards

- if the channel holds tomorrow, 11500 F should be buying area

15 min charts:
- trend is up
- parallel lines drawn are a problem
- it means this is not really a rally but a corrective move to the prev fall

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