This is for education purpose only and may not be useful for trading
Daily charts: Strong up day but on low volumes. Short trade will 
force exit if markets close above 2853.
Even then buy can FAIL as the recent correction is bigger than recent rally. Any bounce will be limited to RSI resistance (EOD charts).
Weekly charts: buy mode with swing reversal at 2800. This is likely to whipsaw as mkts have been rangebound for 3-4 weeks.
20 day swing : in sell mode (SL 3150). The earlier BUY signal has failed.
force exit if markets close above 2853.Even then buy can FAIL as the recent correction is bigger than recent rally. Any bounce will be limited to RSI resistance (EOD charts).
Weekly charts: buy mode with swing reversal at 2800. This is likely to whipsaw as mkts have been rangebound for 3-4 weeks.
20 day swing : in sell mode (SL 3150). The earlier BUY signal has failed.
No comments:
Post a Comment