November 12, 2018

Market outlook

Daily charts:
- trend is down on daily charts
- after 3-4 days of rangebound movement, markets closed 1% in negative at 10482
- AD was 6:11
- VIX up 9%
- option writing support 10000

- H&S formation: if correct, then right shoulder is being formed... support 10200

5 min charts:
- note markets were rangebound past few days
- today, markets attempted to cross recent highs and sold off
- took short trade in circled area and covered near low of the range (10580-10590 range)

- this trade gave a very good risk reward ratio

- ignored the short trade as bars showed signs of buying
- this was a false warning
- SL was not clear so decided to do nothing

Same chart with kplswing indicator
- first short trade would given a small loss while
- second short signal would have given good profits

Trades today

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