Bias was bearinsh in the first hour, as the price opened and remained below PDC.
1) Wanted to short BOF PDC. As the rejection was not strong enough to go for a blind short, waited for a clear swing low. Entry swing low was available only in the middle of the range with less space with LOD. Hence could not take it.
2) Was not prepared to change bias to bullish, when price broke out PDC. It was a pattern failure, and should have longed above the then HOD.Missed a good trade.
3) Skipped PDH BPB, as I was not comfortable trading into all time high.
4) Longed @ BOF LOD/BRN confluence. Stopped out. Gave 7 points.
Disclaimer: I am not a Research Analyst, registered with SEBI. I maintain this blog only for my own learning purpose and recording my thoughts on intraday activity of Market. I do not give any kind of trading advice to anyone. My methods will result in severe losses. Hence please do not follow me.
Good Evening Karthikeyan
ReplyDeleteNice chart, and your thoughts are right.
Suggestion - Can you name the lines marked on your chart, so that it will be easy to read your comments comparing the chart.
Raju
Good evening Raju,
DeleteI will name the lines from tomorrow onwards.
Thanks,
S.Karthikeyan