Daily charts
- trend is up on daily charts
- today, markets reversed from upper trendline of falling channel
- markets closed 1% in red, AD was negative
- VIX was negative implying no panic
- option writing support 8500 (NOV series)
5 min charts
- first bar was large body candlestick
- it was also a gap down and a hammer
- the first bar high low was never crossed.
- difficult taking a short trade
- if considered, max profits would have been 35-40 points
- only positional traders would have got max profits.
- trend is up on daily charts
- today, markets reversed from upper trendline of falling channel
- markets closed 1% in red, AD was negative
- VIX was negative implying no panic
- option writing support 8500 (NOV series)
5 min charts
- first bar was large body candlestick
- it was also a gap down and a hammer
- the first bar high low was never crossed.
- difficult taking a short trade
- if considered, max profits would have been 35-40 points
- only positional traders would have got max profits.
