Market opened above PDH. I was looking to go long. IR formed. Notice the area marked A We will be tempted to go long here. But notice the flip zone just above.Better to wait till the price breaks above the flip zone.Went short on the BPB of PDH. Scratched this trade. Missed the days major move, BOF of PDC
why did u miss that last trade? busy with other stuff ? in the last trade,price came below PDC and just went up, shouldn't we wait for the price to test the PDC one more time, i mean go below PDC and go above it sightly and come below and then finally go up?
ReplyDeleteManjunath
ReplyDeleteA second test of the level is not a must. If there is a flip zone very close then price may reverse there.In such cases better wait for a second test.I do miss a lot and commit a lot of mistakes.
ST