Nifty gaped down and broke BRN. Went short on break of IRL as BPB of BRN. It was a smooth 30 point slide respecting all the flips. Rest of the day Nifty traded in a range. BOF of Range low came very late.
Regarding breakdown of IRL/BRN, I have a doubt. Your terminology uses BPB which I understand to mean buy/sell on pullback after break.
But in today's range breakdown, there was no immediate pullback, in that case do you keep a stop order below/above the range? If pullback doesn't happen do we forego that entry?
thanks vivek
PS: I am using some of your methodology and posting at my blog
I always consider the gap as a move ( or as a wide range bar). Nifty broke BRN to the down side and pulled back. BPB entry trigger happened to be at IRL I would have gone long if Nifty went up and broke IRH as BOF of BRN
It was not a Range breakdown pullback but the BPB of BRN
Regarding breakdown of IRL/BRN, I have a doubt. Your terminology uses BPB which I understand to mean buy/sell on pullback after break.
ReplyDeleteBut in today's range breakdown, there was no immediate pullback, in that case do you keep a stop order below/above the range? If pullback doesn't happen do we forego that entry?
thanks
vivek
PS: I am using some of your methodology and posting at my blog
Vivdev
ReplyDeleteI always consider the gap as a move ( or as a wide range bar).
Nifty broke BRN to the down side and pulled back. BPB entry trigger happened to be at IRL
I would have gone long if Nifty went up and broke IRH as BOF of BRN
It was not a Range breakdown pullback but the BPB of BRN
ST
thanks. it is very clear now.
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