No momentum in the first hour.
1) IRH BOF was the first signal. Missed this WT trade and at least 15 points waiting for some confirmation in the form of a swing low to enter, as I thought that the rejection was not quick enough. Should not think too much when WT BOF signals are available. More often than not, they go well.
2) Did not long @ IRH BPB, as BRN was too close. Further strong retracements indicated that price may not go up far.
3) RT - Shorted as soon as price fell inside IR, failing to break BRN. Exited in a hurry with just 8 points, when the downmove paused for a while.Fear of losing haunts big time. Only when I start winning consistently, it may fade away.
4)BOF of LOD/PDL was a good signal. As it was a CT trade, waited for a clear swing high to enter. Swing high was available only in the middle of the Range. Hence could not take this trade.
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,
ReplyDeleteAgain very good analysis,
Also appreciate your guidance always.
Still i need to improve on price action study, hope i can do it with the help of seniors like you.
Raju
Good evening Raju.
DeleteYou were so magananimous in lasvishing praise on me. The fact is that I have to cover some more distance. I think, I can be a senior, only when I win consistently.
Thanks to the discussions with you, I have learnt a lot. Learning can never be one way traffic.
A different perspective always helps in improving oneself. Hope that we too can become consistent winners in due course.
Thanks
S.Karthikeyan