► HTF is in uncharted area with "Inverse Hammer candle", which infers "highly negative" bias". ► I believe sellers are dominant, but expect support at 15830-15850. As I said last week, am bullish until 15730 is broken convincingly. ► Pivot analysis infers TRENDING DAY bias. This is the first time in months that I am seeing CPR is such a tight range i.e. CPR width is literally "ZERO". But, ADR is at 0.75, would have higher conviction if ADR was less than 0.50 of daily range. ► But, watch out for some crazy trending day or closely fought battle of buyers and sellers. ► Support levels 15895/15858 ► Resistance levels 15962. ► If market can hold off tomorrow and close above 15850, we may see bullish momentum for few weeks/medium term.
Market has chances of gapping up or down. So, hold your horses before jumping into trade. :)
1. Any bullish PA above 15885 is stop of 15866 and target of 15923. 2. Any bullish PA above 15834 is stop of 15815 and target of 15854. (Scalp) 3. Any bullish PA above 15947 is stop of 15923 and target of 15987. 4. Any bearish PA below 15923 is stop of 15936 and target of 15882. (Scalp) 5. Aggressive short below 15877 is short with stop of 15897 and target of 15837.
This information is for education purpose only. So, please consult your financial advisor for any investment/trading advise.
Hi Again, Thanks for the analysis. What is PPT strategy?
Sacredmonkey
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@enhancedtrader12, Hello there, its called PIVOT POINT Trading strategy - That is when we see a bullish candle above Pivot point then we go LONG. Same logic in reverse for SHORTS.