BIG PICTURE
TRADING DAY BAR REPLAY
- PRICES ARE RANGING FOR PAST 1 MONTH.
- PREVIOUS DAY DAILY CANDLE IS IN DECLINE MODE. PRICES TESTED 8000 AND ARE CONSOLIDATING AT THIS LEVEL.
TRADING DAY BAR REPLAY
- 10:40 - PRICES HAVE FORMED RL ABOVE BRN, PDL AT 7810. DOWN MOVE DOES NOT HAVE ENOUGH MOMENTUM.
- 11:00 - PRICES BROKE OUT OF RL AND HAVE PIERCED BRN AND PDL. TO GO BPB SHORT OF PDL.
- 12:58 - PRICES BROKE DOWN THROUGH PDL. TO ENTER BPB OF PDL.
- 13:06 - TRADE NOT FILLED.
- 13:14 - PRICES TESTED PDL SEVERAL TIMES AND THEN THERE WAS BOF. tHOUGH LOOKING LIKE A REVERSAL, NOT PLANNING FOR LONG TRADE AS THERE ARE LOT OF LEVELS IN THE WAY UNTIL PDC.
- 14:03 - 7810 IS ACTING AS FLIP.
- 14:23 - PRICES ARE IN UP TREND. PRICES HAVE TRAVELLED FROM PDL TO PDC. GREEN BARS ARE WRBS AND HHs AND HLs HAVE FORMED. BUT WILL WAIT FOR ACCEPTANCE ABOVE RN 7850.
- 14:57 - WAS NOT ABLE TO ENTER BPB AT RN. BREAKOUT CANDLE RANGE WAS 35 POINTS. R:R RATIO WAS NOT FAVOURABLE.
Guru
ReplyDeleteNice one. You could have taken BOF of PDL once prices started getting accepted above BRN. At this point, prices are above two DPs and your risk would have low by keeping SL below BRN.
URD