Nifty opened near previous day close. BOF of BRN 5300 was a signal to go long. skipped the trade as FTA( PDH )was too close. Expected a pull back after the breakout of PDH. I would have gone long keeping the stop loss below PDH. if the price came within my risk tolerance level.
I thought it was going to channel but later on traded in a very tight trading range. BOF of this trading range gave a long signal which moved well.
Why not have BDF instead of BOF for Breakdown Failures. BOF for both breakouts and breakdowns leads to confusion.
ReplyDeleteANON - not necessary as it is the failure which is important not the direction. Besides the Glossary is already reached 20nos. - will leave the last word to ST - rb
ReplyDelete@Anon
ReplyDelete@Raghu
Let us leave it as such.Otherwise we may need BOPB and BDPB also
ST