April 30, 2019

Market outlook

Daily charts:
- trend is up on daily charts
- today markets closed flat at 11748
- AD was 5:14

- broader market was weak

5 min charts:
- as markets are rangebound, I am using price action trading
- took short position in 2nd bar
- covered around 11730 F
- missed long trade as shown in circled area

- my entire premise in taking any trade is to locate a position or area where risk is lowest
- so prev day high/ low offer excellent opportunities for short/ long trade with clearly defined targets

I am also now trading weekly options... here is my MTM statement for the day

I always trade in 2 accounts so the other account has roughly similar P&L.

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