Tuesday, November 11, 2014

11/11/2014


Opened exactly at the upper extreme of the last impulse of yesterday. First 3 candles indicated that bulls and bears are evenly matched. Lack of clear imbalance resulted in BW around BRN.

1) It looked like the buying getting absorbed above BRN. Waited for the upper Range extreme to be penetrated strongly to consider shorts. But price fell down without giving me a chance to enter.

2) Could not short BPB PDC, as RN Spot was too close.

3) Did not short below RN Spot too, as the lower extreme of the last impulse of yesterday, which is also a FZ was closely located.

4) PDC acted as a strong  Resistance. PDC BOF short could not be taken as price was moving in a channel.

5) Did not take BPB Long above PDC, as space with BRN was less. Further BPB would have been triggered only after 3.00 PM.

So, no trades for the day

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