October 9, 2018

Market outlook

Daily charts:
- trend is down on daily charts
- today NF closed 0.5% in negative at 10301
- AD was 7:11

- ATR (average true range) today is still high at 180 vs 85 before the correction

- option writing support 10000 resistance 10800-10500

- VIX down 2%




5 min charts:
- attempted a short trade in first 15 min ... stopped out
- attempted a long trade around 1pm... stopped out

- intraday trading is getting difficult due to large stops  and ATR of min 25 points on 5 min charts
- I think I should shift down to 1 min charts ...or stop trading...lol


- rangebound market

- breakout above 10415 F (inverted H&S) failed to happen


15 min charts:
- some bullishness is there
- breakout above 10415 is required



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