Market Commentary:
10:15 AM - NF opened near to PDH, 1st candle acted as MC … thought of attempting BPB of PDH short below IRL.. but hesitated seeing PDC just away.. That trade worked well breaking PDC, PDL swiftly.. Later NF gave BOF of PDL signal, but not expecting retracement of sharp fall with out a bit consolidation.. Hence avoided this signal as well. Expecting range formation between PDC and PDL (or DL) .. will look to fade range extremes.. Preferably BOF of RH short.
10:41 AM - No range as anticipated. NF moving towards PDH.. this move surprised me. Now we have to see PA at PDH / DH from where price rejected at DO. Inability to push the prices above PDH/DH may invite fresh shorts.. Also bulls may do some profit booking if price shown weakness at PDH/DH … so will wait for PA at PDH/DH now.
13:36 PM - Placed BOF of PDH short order below low of BO bar
13:48 PM - Cancelled as price moved back above PDH
14:38 PM - Closing the day as no trades expected
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