Daily charts:
- trend is down on daily charts
- today NF closed 2.2% in positive at 10251
- AD was 3:1
- VIX up 4%
- option writing support 10000
Has the trend changed to up? Is the correction over?
- it is always easy to jump in say this is the bottom or the top
- and there have been many false bottoms and tops this year
- a system driven approach will have its own definition
- so for kplswing (n=20) the buy will come on close above 11035
- this level will keep dropping down fast (note SL is 10 bar high ...10700)
- another way to see is break of a swing high... the significant one is 10700 level
- traders following pure price action will probably say the bottom is made and now trend will be up
- it does not matter which method you follow as long as you are consistent
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgbWTqQcllPUfrd7ahqKYpux9dO7J5GZ_AmeoJ5-Vo4DDP-zGBrHyNMUJPwOA5pRw12U2Fwa844f7HJ3sPNAdp9e7CKqYHvPIIb9ld4w5zk_S4V6s0k3UOLaVkIdseo0v7QiSEN3wrpiqEQ/s640/a.png)
5 min charts:
- traded long as per arrows
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhvw7pjSwfqNNI1CCHY6OBe_xU_cl7ejBVNrzymLwaXl5gQB7B5aMRkab7TpLwrW8-Gby_nvrgzp8r0pskbE42v4MURJKy62WpcDyMNP5OP11tF_veDeEm_h9zI_sYxlcOZ8W2yiHwxsdug/s640/a.png)
Hourly charts:
- buy signal got generated today
- prev short trade got stopped around 10200 F (grey line)
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEht-UNIEiNcastSujY9GwqaaLL8vY8_DeWBkHcP027D9DBa86BKBZ8AIbswbkQPOnUczWgVnNnC7wX35taesJbuANHnLWKEYnwK4pfNFKs44QN9-ljWsn65Bcye5kx0jy30jkLIY0ZiFtv-/s640/a.png)
- trend is down on daily charts
- today NF closed 2.2% in positive at 10251
- AD was 3:1
- VIX up 4%
- option writing support 10000
Has the trend changed to up? Is the correction over?
- it is always easy to jump in say this is the bottom or the top
- and there have been many false bottoms and tops this year
- a system driven approach will have its own definition
- so for kplswing (n=20) the buy will come on close above 11035
- this level will keep dropping down fast (note SL is 10 bar high ...10700)
- another way to see is break of a swing high... the significant one is 10700 level
- traders following pure price action will probably say the bottom is made and now trend will be up
- it does not matter which method you follow as long as you are consistent
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgbWTqQcllPUfrd7ahqKYpux9dO7J5GZ_AmeoJ5-Vo4DDP-zGBrHyNMUJPwOA5pRw12U2Fwa844f7HJ3sPNAdp9e7CKqYHvPIIb9ld4w5zk_S4V6s0k3UOLaVkIdseo0v7QiSEN3wrpiqEQ/s640/a.png)
5 min charts:
- traded long as per arrows
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhvw7pjSwfqNNI1CCHY6OBe_xU_cl7ejBVNrzymLwaXl5gQB7B5aMRkab7TpLwrW8-Gby_nvrgzp8r0pskbE42v4MURJKy62WpcDyMNP5OP11tF_veDeEm_h9zI_sYxlcOZ8W2yiHwxsdug/s640/a.png)
Hourly charts:
- buy signal got generated today
- prev short trade got stopped around 10200 F (grey line)
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEht-UNIEiNcastSujY9GwqaaLL8vY8_DeWBkHcP027D9DBa86BKBZ8AIbswbkQPOnUczWgVnNnC7wX35taesJbuANHnLWKEYnwK4pfNFKs44QN9-ljWsn65Bcye5kx0jy30jkLIY0ZiFtv-/s640/a.png)
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