Tuesday, May 20, 2014

20/05/2014, TUESDAY


1) Gapped up, pulled back and soon IRH was broken. Price had an easy ride till being resisted just in froNt of RN. First candle had a long upper tail. ST clarified in his blog that candles 5,6,7 and 8 indicated that orders are resting near DO only. Except ST, most of others may not have taken this trade.

2) There was a good opportunity to short below PDH and there was a nice swing low too. Had gone out to take Breakfast and hence missed this trade.

3) Price was twice resisted at BRN and it looked like BOF. Yesterday's lessons warned me of the trading into the chop and rightly didn't take them.

4) BPB of BRN was a good signal with a clean swing high. Skipped it as it was already 2.35 PM.  Today is the day of fluidity. A good example of how price moves easily in fluid conditions like knife in butter.

So no trades for the day.

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