Bias turned bullish, before MSP was broken, as IRH held.
1) Longed @ FTC IRH. Stopped out just before the rocket launch. Got only 3 points.
2) Was looking to go long @ RL after waiting for another attempt. But the price fell. Weak retracement after hitting RL was a clue, in hindsight.
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No more trades
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Hi,
ReplyDeleteNice chart. Did you trail your SL in first trade? If so, doesn't it look you have moved SL too quick and too soon. Any specific reasons for not taking PDH BPB and FTC TST @ HOD trades ?
Regards,
KSG
Hi,
DeleteI1) thought that the price was getting strongly rejected @ BRN and moved the SL up to cut the losses. Indeed, I ended up cutting the gains. It also looked like PP set up. I had to choose between cutting the losses or to be prepared to lose a little bit more, hoping for big fish. I am yet to win consistently and so my natural tendency was to play it safe. Hope that once I start winning consistently, I will treat these situations differently
2) I didn't take BPB PDH, because 65 point explosive up move had been completed and the move might be coming to an end. Instead I was looking for TST/BOF @ new Range Low. That didn't happen.
3) I would have shorted @ HOD if BPB PDH was not triggered, as a lower high would have given me the confidence.
I feel comfortable taking TST Short @ established HOD.If another attempt was made @ 8880, I would have definitely taken it.
Still I have a long way to go.
Thanks for the comment.
S.Karthikeyan
Hi,
ReplyDelete@ opwning it was BOF of PDL......dont you think so?...PDL was 8755......first candle low was 8753.6.......had youn entered that level you would have got nex big rally.....I think so....why not taken BOF of PDH....there was tail @ 8891 candle..that was a clue I think so...of everybody has its own perception....thanks....
Hi,
ReplyDeleteTo start with,my bias was bearish. In my chart, the tail of PDL was not penetrated by the first candle. It was TST. I was not interested in CT TST signal. But it turned out to be a very good signal. My bias became bullish, only after IRH held.
Regarding BOF PDH - I could sense the fall only after it breached 8860. Till then, I was thinking that price may test HOD@8890, once again after some correction. I have to learn a lot more.
Did you take BOF PDL and BOF PDH?
Thanks.
S.Karthikeyan