Daily charts
- trend is up on daily charts
- today, NF closed 0.2% in positive at 10480
- AD was flat (slightly negative)
- option writing support 10000
H&S formation
- we are at neckline now
- notice slower pace of rally as the 'head' part is getting completed
- if H&S plays out, a correction to 10200 is possible
- the bigger H&S on weekly charts will kick only if 10000 breaks... till then ignore it.
5 min charts
- bought on first/ second bar
- exited as per trailing SL
- today I kept a very tight SL as markets were very close to my reversal levels
- also took a short trade as per box... small profits
15 min charts
- exited positional longs as per circled area
- note I prefer N=20 for entry and N=5 or 10 for trailing SL/ exit
-next week, I will consider short trade below 10440 F
- trend is up on daily charts
- today, NF closed 0.2% in positive at 10480
- AD was flat (slightly negative)
- option writing support 10000
H&S formation
- we are at neckline now
- notice slower pace of rally as the 'head' part is getting completed
- if H&S plays out, a correction to 10200 is possible
- the bigger H&S on weekly charts will kick only if 10000 breaks... till then ignore it.
5 min charts
- bought on first/ second bar
- exited as per trailing SL
- today I kept a very tight SL as markets were very close to my reversal levels
- also took a short trade as per box... small profits
15 min charts
- exited positional longs as per circled area
- note I prefer N=20 for entry and N=5 or 10 for trailing SL/ exit
-next week, I will consider short trade below 10440 F
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