14 - Jun - 2017 (-20)

Market Commentary

Pre-Market:

BRN would be key to watch today, as price close lower range where it is trading in last 2 weeks.

In case of gap down below BRN... watch out for PA after price pulls back towards BRN/PDL zone

In case of gap up above BRN... watch out for long opportunity if PB/BOF comes near PDL/BRN

9:40 AM: Trade1 – BOF of LOL PDL/BRN long at 9618 with Initial SL 9607, FTA is 9625 (DH and yesterday swing point) which is just 7 points away. Will look to scratch if order flow (due to short covering) doesn’t push prices up above DH

9:53 AM: Exited with loss of 13 points

9:55 AM: Removed PDC, as I see two swing points above and below it, no more relevant DP

9:59 AM: On 15 minutes’ chart, I see swing lows at 9684 and 9650, could be potential targets if price sustains below BRN... if reverses from here, a long opportunity above PDL can be considered, but will wait for some consolidation as price hit one SL just now

10:25 AM: Expecting fresh buys only above 9620-25 zone (coinciding with yesterday’s closing range and DH) … Or will have to see if PA if BRN broke again. No fiddling in middle

10:31 AM: Removed PDL as DP, as price started moving back and forth around it... and I don’t expect to trade any trade signal around it

11:55 AM: 2 attempts to break BRN didn’t work so far, will wait for PA at DH/BRN.

13:35 PM: Stayed away from desk till now, there was a BO trade opportunity. but I would have missed as I won’t be ready for BO trade after one loosing trade

14:10 PM: Trade 2 – TST of 9640 short at 9635 with Initial SL 9642, will scratch if price reverse from 9625-20. Trading this half of regular lot size, being counter trend

14:45 PM: Exited with loss of 12 points

Points earned: -20