BAR REPLAY - 5th Feb 2013

BIG PICTURE

• Trend is Up. Prices have been in 100 point range in the last 1 month. For the last few days prices are in down-trend, have formed lower lows and have reached Support of 5980-6000.
• Daily Candle - Overall Trend is Up. Currently prices are ranging and are taking support at all time high 6100. Previous day candle is in decline mode.

TRADING DAY BAR REPLAY

• 10:00 am - Price opened well below BRN,PDC,PDL. Past level 5980 has acted as Resistance so far. Bias is Down.
• 11:00 am - Prices have broken up from 5980 which is acting as Flip. Waiting for BOF of PDC/PDl before going short.
• 12:00 pm - Price broke down from Flip 5980, pulled back. Looking to go short at break of RL 5970
• 12:26 pm - Short trade filled at 5970. ISL - 5981
• 12:56 pm - SL hit.
• 13:30 - Prices are taking support at Days low 5965.
• 13:44 - Prices broke through Flip 5980. To wait for BOF of PDC/PDL to go short and ride till 5965?
• 13:53 - BOF of PDL. To enter short after break of 5980.
• 14:08 - Short trade filled at 5980. ISL - 5993.
• 14:44 - SL moved to 5983.
• 14:59 - BOF of DL. Profit booked at 5970.
• 15:30 - Prices drifted within day's range until markets closed.