If you are a Amibroker user and recently testing with Ninjatrader 7 or have plans to migrate your EOD or 1min database to Ninjatrader then probably you need to aware about Ninjatrader ASCII format for EOD and 1min data and import procedure to migrate your dataset.
On Mondays trading session price is able to find a new higher equilibrium compare to the Fridays session as value is created higher and market sentiment too revived to positive mode despite Fridays negative close. Entire June trading session is so far in a compressed 100 point trading range between 9600-9700.
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The Elliott wave model often indicates a stock market outlook that’s at odds with the sentiment of the crowd. But, that’s okay. The crowd is usually wrong at major market turns. For example, two years ago on May 9, 2015, the bull market was six years old and the third longest in history. A few days earlier, CNN Money said: As the bull market gets longer and longer, investors are getting jittery.
On Mondays trading session price is able to accept below the Spike base which we discussed on last preparation. Price was trading around the days open most of the time and also price was moving back and forth around the prev week low which is not a sign of high confidence selling on mondays trading session. Finally price manage to close above prev week low (9619.5).
Video log on how to prepare for 12th June 2017 Nifty future trading. Here is the quick summary of what is discussed in the video. From the Top down analysis monthly timeframe is up and trending higher not much weakness seen, weekly timeframe is up (sentiment is up as well) and also week range is very thin 85point range. However daly timeframe is in balancing mode for last 6 trading sessions as the volatility in the markets remains low.
Gold is showing signs of breakout on the weekly timeframe currently price is defending around the 1300 reference levels. Sentiment is positive across the timeframes. 1300 is more likely to be the short term key resistance levels. However overall structure of the trend is holding positive and the breakout is imminent.
When there is a planned event like RBI announcement, FOMC meeting, Earnings Result, Major political events like Election results, BR Exit kind of scenarios options price tends to move higher as the implied volatility of the options gets a ramp up before any such binary event. The reason for such ramp up in option volatility is the investors getting into hedging mode due to the uncertainty of the event and speculators betting on the future directional move which causes the Implied volatility to spike up.
Liquidity and Volume are the two different concepts widely misunderstood by the traders community. High Volume typically represents higher number of executed orders or high trading transactions, however high liquidity represents the order book is stuffed with thick limit orders at Bid and Ask prices levels. More closer the liquidity , lesser the market impact cost and higher the market efficiency.