17/9/14

Big inside  gap up , followed by a downward initial movement. 

1) Did not take IRL BPB, though it is in line with day trend, as opposite directions of gap and initial movement indicated either the absence of clear imbalance between the sellers and buyers or that price may move in the direction of gap after a PB. Further 8000 PE OI was still higher than 8000 CE, implying that no big fall is going to happen immediately.       

2) Did not short BOF of BRN, as I thought that the momentum was low. Further, whenever initial movement has been retraced beyond Day Open,  a complex PB in the direction opposite to initial movement can be expected.

Did another mistake. DO remained the high of the day and no established IRH had been formed. Should have  discarded it after the price breached it. In that case could have taken BRN BOF quite early and escaped unhurt or got some minimum profit, even if price returns without touching the other extreme.

So, no trades for the day.