Gap - CT outside up . Initial Movement – down Similar situation was seen on 23/07/2014.
1)Narrow IR was formed.
Was not sure what must be the bias as
Gap and initial movement were in the opposite direction. So decided to
take strong BOF trades only, initially, as BO and BPB are not wise options in
such a scenario.(went for a direct BO long and got stopped out on 23/07/2014)
Hence skipped BPB of IRL, though price didn’t retrace back
into the Range after BO. Another reason was the presence of BRN, just
7 points away, (from the entry swing low) followed by PDH,BRN and PDC.
2) There was a BOF at LOD only after 3.00 PM, the best
signal of the day. Could not take it due to want of margins.
So, no trades for the day.
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