Dotted Dark Blue Line - CPR Dotted Light Blue Line - CPR of Previous Timeframe Dotted Pink Line - H1,H2 Dotted Brown Line - L1,L2 Red Line - R1,R2(Standard Floor Pivots ) Green Line - S1,S2 Pink line - H3,H4,H5 Brown line - L3,L4,L5
CPR width is twice wide than the previous day, so it may be a consolidation day.
CPR of 14 is above than of 13 Mar, so overall the day will be BULLISH.
L3 and CP are very near forming a very strong support.
Trading plan:
1.) Buy the dips if CP is not breached as it is more likely that H3 or R1 is going to be touched once. Short at H2/H1(be cautious as trend is overall bullish) and buy at L1,L2. 2.) If CP is breached, it means there will be a huge selling and L5 should be your target. 3.)If H4 is breached, H5 will be very likely to be reached.
Comment
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Index traded for a long time between H1 and L1. CPR was not breached.