April 17, 2020

Market outlook

Daily charts:
- trend is up on daily charts
- today nifty closed 3% in positive at 9267
- AD was 7:2

- hanging man pattern formed

- VIX dropped 8% to 42

- triangle / wedge pattern still valid
- swing low 8000

- ATR (14) drops to 450




3 min charts:
- first signal (buy) no valid as it was red bar and close was not near high
- SL at 3 bar or 5 bar high (or low) depending on trend
- above simple rule will force an exit even if take a wrong trade



5 min charts:







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