Initial candle showed heavy selling at PDH. Supported
at PDC, retraced in quick time to PDH and again got sold off. But this time,
selling was absorbed and a HL was seen. As expected, price broke out of IRH.
Having observed the HL and LH inside IR, it is time to start attempting direct
BO trades at IRH and IRL. (On 6/3/14, with a similar initial candle, signifying
heavy selling, price went above IRH,
fell back into IR, made a HL and shot up without turning back).
BOF noticed at PDH. But there was no space, as there
was a strong consolidation bar at 7 points space. What followed was a cigarette
for 3 hours. Failed to spot it and missed a 50 point move.
Did well not to take any trade inside the cigarette.
Having not taken any stupid trades in the last 3 days, it is time I evolve into
taking direct BO trades at IRH, IRL, PP and Cigaratte.
