Thursday, September 11, 2014

11/9/2014




No  gap . Initial movement – up. Strong rejection at PDH and price rapidly fell down.

1) Did not short BPB of IRL, as BRN Spot was closely located. Below BRN Spot, low of the last impulse move of the previous day was there.

2) Price fell steeply. No clear signal to join this down move, though was expecting it from the morning. But in hindsight, after seeing ST's blog, can understand that it is a very good FTC trade. Lack of knowledge about FTC was the reason for missing this trade.

3) Did not short BPB of BRN, as it was a strong support in the Hour timeframe.

4) Went Long above BRN,  trusting the exit of critical mass. PDL was located exactly 10 points away . Stopped out.  Gave away 8 points. While taking such trades, space must be more than 15 points, I think.

5) When price soon climbed up, thought of entering Long above the swing high. Hesitated and missed 15 points.

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