1) Price fell below PDC quickly. before the order can be entered. Missed the initial move.
2) Went for a SS Long above consolidation high. PDL resisted and exited with 5.5 points
3) Did the stupid thing. Went Long just in front of BRN, hoping that there will be enough stops to propel the price further. Stopped out and lost 8 points.
4) Took the BOF of DL and exited with 15 points.Should have got more points, but exited at 3.10 PM, due to want of margins.
When it looks like a TRAP, be prepared for 2 eventualities.
1) Consolidation near TRAP swing low/high and its break out.
2) Turning into a BOF, where an entry can be made at the other extreme or the immediate DP opposite to TRAP swing low/high.
Be prepared if you get stopped out on PP. It may be TRAP and get ready to reverse the trade at the other extreme or the immediate DP.
No comments:
Post a Comment