BAR REPLAY - 22nd March 2016

BIG PICTURE

• Trend is Up.
• Previous day candle is in Rally mode

TRADING DAY BAR REPLAY

• 9:50 - Price opened below PDC and has formed IRL at 7683.
• 10:00 - IRH established at 7695.
• 10:08 - Opening Candle acting as MC. RH confirmed. To go short below RL(MC low).
• 10:30 - Trade did not get filled. Price broke out above RH and is approaching PDC,PDH levels.
• 10:53 - Ascending triangle pattern forming. Also HHs and HLs are forming. Buyers are gaining strength. To go long at break of PDH.
• 11:30 - Prices could not break out above PDH. However, bias is still up as HHs and HLs are intact.
• 12:20 - Prices have formed channel at PDC.
• 12:30 - Prices have tested PDC twice since market open and that level has not yielded. Prices have then moved down towards BRN 7700 which has been acting as flip so far. To go short below 7695 which is previous Swing Low.
• 12:38 - Trade got filled. ISL at previous Range extreme at 7705. 
• 12:44 - SL almost got hit :( 
• 13:27 - Moving SL to MSP 7692.
• 13:57 - 7670 is acting as RL. TP here.
• 14:23 - Prices took support at 7670 and started moving up towards BRN. 
• 14:52 - Prices are not staying accepted above BRN 7700.
• 15:30 - Prices pierced through BRN,PDC,PDH, but was not planning to to go long as all these levels were very close and it was fag end of the day.

Note: In hindsight, the last up move followed the pattern of - 1.Orderly Pullbacks, 2.Fag end and 3.Test of extreme.