DO above PDC..with in closing range. Attempted BO of IRL, scratched as not moving expected.
Waited for signal at PDL, took BOF long which paid well.
Trade1: (12:11 candle)
Short at 7732, as BO of IRL.. with initial SL 7739
Exited at 7735, as no STOP’s getting triggered as expected
Trade2: (13:56 candle)
Long at 7730, as BOF of PDL.. with initial SL 7722
Moved SL to 7732, break even
Moved SL to 7753, below pullback low
Moved SL to 7768, below pullback low
Moved SL to 7781, below pullback low
Exited trade at 7788 with gain of 56 pointsPoints earned : +51
Rose,
ReplyDeleteClass trades!! :)
Cheers!
GK
Thanks!
DeleteNot confident with BPB short signal at PDL... hesitated there.. i felt i am going to miss downfall.. but market gave 2nd opportunity :)
Rose, Charts similar. Ur last trade can be viewed with two different angles.
ReplyDelete1- If it is as a BPB towards PDL only then SL will be 7722. Your trade justifies this angle.
2- If it is considered as a BOF then SL will be below BO red candle low, about 20 point SL.
Thanks.
Manish.
Manish,
DeleteMy thought process for BOF/BPB trades will be like below.
BO candle of PDL is at 13:05.. BPB short actve below low of that candle.. i avoided it, but idle SL should be above PDL itself, similarly for BOF trade, entry is above high of BO candle with initial SL below PDL.. which is invalidtion point of reason why you took trade!
Yes, a SL below PDL should be invalidation point. Did not noticed this.
DeleteRef your tr 2 "Moved SL to 7768, below pullback low", 10-12 minurtes before there were 2 pull back candles, with the low of 7771, how you escaped moving SL to 7771, otherwise SL would have triggered.
ReplyDeleteshaimino