October 17, 2018

Market outlook

Daily charts:
- yesterday I had indicated that trend has changed to up
- reason was close above a  certain swing high
- today, markets opened gapup and sold off heavily
- the resulting engulfing bar was probably the biggest this year
- this means I need to change my views
- so I will maintain trend as down with reversal level at 10710

5 min charts:
- short on 2nd arrow
- cover at close

Short on break of prev hour low would have given very good profits

15 min charts:
- trend is down
- support 10400 F
- SL 10500 F

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