Index broke below the bracket, but todays open will confirm price acceptance below bracket. If accepted, expect the next vertical development.
Rejection from the area marked by the red arrow is todays best opportunity, if it materializes. The levels need to be adjusted as today is the roll-over day.
Rejection from the area marked by the red arrow is todays best opportunity, if it materializes. The levels need to be adjusted as today is the roll-over day.
The new FEB series has a premium of 24 points. Till thursday, we were tracking JAN series.
ReplyDeleteHow to work around this. Even if we open flat, the chart will show a gap up. Value needs to be adjusted for the difference is close in both the series.
For Friday, how are you going to define the value acceptance. Say, we open near 5630 (NF) and make a small IB of 20 points (5620 to 5640). Near 5645, would u look for shorts or longs...?
Break of IB low is acceptance, i think. But here again, yesterday's profile of feb series would show a different range than the jan series.
Hi,
ReplyDelete1. Actually levels need to be worked out with Feb series data. Roll over to Feb series a few days back
2. IB break is too late to enter a trade. Open type may give an idea about acceptance/rejection
can u please do a small write up about open type and how u plan your trade based on that. How much time do u wait before u decide to react to price action. I know one person who decides the open type based on the first 2 min and she gets it right almost 80% of the time.
ReplyDelete