1) Wanted to Long with a Limit order
on PB. Price didn’t stall to let me take a Limit order entry.
2) Price stalled here. But target was
too close. Hence skipped it.
3)Placed a Limit buy order at XX13. This
was not filled.
4) Momentum weakened after BO. Waited
upto 2.45, with SL Sell orders(trailing below high close green candles). As the
order was not filled before 2.45, stopped trading. Small fall happened immediately
after I cancelled the order.
So no trades for the day.
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,
ReplyDeleteNever take an entry like the 4th one. Just the decreased momentum is not enough to initiate a counter trend trade. It will be risky. Look at the rule 2 of future bias..
Thanks Jagadeesh. As per rule 2 of future bias, we are supposed to expect CPB. If 11.18 candle high has been established as Range boundary, due to formation of 4 pivots, (today that didn't happen), it would have been a valid trade?
Delete