Frustrating day. Price moved to every corner of Narrow Range at will.
1) Took only one trade. Looked like Upthrust. Shorted below the set up candle. Exited at the same price.
Disclaimer: I am not a Research
Analyst, registered with SEBI/MCX or any Exchange. 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.
Hi SK,
ReplyDeleteDon't mark TVP immediately after the breakout of range. When the breakout fails like the one we had today, TVP doesn't have any significance except for taking profits.. You have missed a beautiful short trade which retested the range resistance because of the confusion created by the TVP.
Yes. Today I could not read things properly. This experience will help definitely.
DeleteThanks
Make a habit of extending range boundaries to the right at least for the session. Market provides opportunities around that boundaries evenafter breakout.
DeleteYes. That is one of the many mistakes, I did today. Range boundary does not lose its relevance, even after such failed BO.
DeleteThanks