1) Shorted CPB. Target was hit.
Expected the price to move beyond T1, as it was CPB. That didn’t happen. Gave 1 point. Should have entered with a Limit order at XX92 or below 10.57 candle low. It would have given
better Risk:Reward.
Subsequently price chopped and formed
Intra Range.
2) Didn’t get Pullback after bias
turned bullish.
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,
ReplyDeleteGood going.. After the CPB entry, price turned to sideways and you must switch back to trade management rules of side ways trend ie. allowing some room until price tests the range extreme after T1 is hit.
Hi Jagadeesh, I had that doubt, when I took that trade. Thanks for clarifying the doubt.
ReplyDeleteAfter the Range was formed, is there a way to judge, which extreme(upper or lower) has a high probablity of getting hit? I was not sure which way price will go - up or down- and hence exited.As you said, I should have skipped this trade, after Range was formed.
Hi SK,
DeleteOnce a range got confirmed, both the boundaries carries equal importance.. Look for setups at both the boundaries. Our main focus must be on the strength or weakness with which price approaches the boundary.
Thanks Jagadeesh
Delete