BAR REPLAY - 16FEB2016

BIG PICTURE

• TREND IS DOWN SINCE LAST 1 YEAR. PRICES ARE RALLYING FROM LAST SWING LOW 6900.
• PREVIOUS DAY DAILY CANDLE IS IN RALLY MODE AND HAS COMPLETELY GAPPED UP.

TRADING DAY BAR REPLAY

• 09:31 - PRICES OPENED AT BRN AND STARTED MOVING DOWN TOWARDS PDC. CLOSE TO PDC, RN HAS HELD TWICE THE PREVIOUS DAY. LOOKING AT GOING SHORT IF PRICES ARE ACCEPTED BELOW BOTH PDC AND RN.
• 09:41 - PRICES BROKE OUT AND A PULL BACK CANDLE IS FORMING. TO GO SHORT AT BREAK OF LOW OF BREAKOUT CANDLE.
• 10:00 - TRADE NOT FILLED. PRICES REVERSED AND ARE ABOVE PDC. NOT AIMING FOR LONG AS THERE WAS CONGESTION ON PREVIOUS DAY BETWEEN PDC AND PDH.
• 11:23 - SELLERS ARE STRONG BUT THEY DO NOT HAVE ENOUGH MOMENTUM AND PRICES ARE NOT BEING ACCEPTED BELOW RN 7150. TO GO SHORT IF DL IS BROKEN.
• 11:25 - SHOR TRADE ENTERED . E - 7135, ISL - 7147
• 12:01 - ISL HIT.
• 13:13 - RL FORMS NEAR BRN 7100.
• 14:05 - RANGE ESTABLISHED BETWEEN RN 7950 AND DL 7110. BIAS IS STILL DOWN, BUT MOVE STREGTH IS WEAK AS PRICES ARE IN CHANNEL. STILL LOOKING FOR SHORT TRADES, UNLESS THERE IS CLEAR SIGN OF REVERSAL.
• 14:18 - PRICES BROKE OUT OF RL AND BRN AND PULLBAK HAS FORMED. PLANNING TO ENTER INTO BPB SHORT TRADE.
• 14:21 - TRADE FILLED. E - 7090. ISL - 7105.
• 14:35 - ISL ALMOST HIT, THEN PRICES MOVING DOWN TOWARDS PDL 7060. 
• 14:42 - PRICES BRECHED PDL. COULD HAVE TAKEN PROFIT, BUT WOULD LIKE TO TRAIL THE TRADE. SL MOVED TO MSP 7073.
• 15:06 - PRICES STALLING AT RN. CLOSING TRADE AT 7060.
• 15:13 - TP HIT.