BAR REPLAY - 06JUN16

BIG PICTURE

• TREND IS UP. PRICES HAVE BROKEN OUT OF NARROW RANGE OF 3-4 DAYS.
• PREVIOUS DAY DAILY CANDLE IS IN DECLINE MODE. IT HAS BROKEN OUT OF RESISTANCE 8225. 

TRADING DAY

• 09:31 - PRICES OPENED BELOW RN AND PIERCED THROUGH THAT LEVEL AND IS FORMING PULLBACK. WILL GO LONG ABOVE BREAKOUT RANGE AND AIM TO RIDE TILL PDH. THIS SHOULD BE GOOD PROBABLITY CONSIDERING RN HAS ACTED AS FLIP THE PREVIOUS DAY.
• 09:52 - TRADE NOT FILLED. 
• 10:13 - PRICES ARE MOVING IN CHANNEL AND BIAS IS DOWN. THEY MAY BARB WIRE AROUND PDC/PAST LEVEL 8225.
• 13:30 - PRICES HAVE CLOSED ABOVE DAY'S RH WHICH IS RN 8250 AND PULLBACK HAS FORMED. TO GO LONG AT BREAK OF CP HIGH. ELSE TO GO SHORT OF CP LOW.
• 13:34 - SHORT TRADE FILLED. E - 8245. ISL - 8252. TP - 8235.
• 14:01 - PRICE REVERSED JUST ABOVE TP. SCRATCHING TRADE.
• 14:31 - PRICE BROKE DOWN IN A BIG WAY. A 30 POINT RED CANDLE HAS FORMED. NO PROPER R:R RATIO TO ENTER SHORT.