06 Mar Wednesday Daily Outlook

Price channeled in between 38250 and 37750 yesterday, need to break out of this channel to move forward in either direction. Indicators are still indicating a non-trend movement. I consider it safe to stay out of the market in these situations. It is my opinion, but if you have an effective strategy and system that works, you can apply that for your advantage.

Attached is a 15M chart where we can see a market swing yesterday. A divergence in price can also be seen, but it is a small time-frame chart, we may look for an opportunity very cautiously to go long at the break of upper limit of the channel, but the position should be small take profit type.

Will keep you posted later during day. Happy Trading :)