Nifty gaped up above PDH and spiked. There was no space for it to channel as it was very near to BRN 6100. Nifty made a tight trading range between IRH and BRN. Short on BOF of BRN. I was expecting it to go to PDH at least. But it reversed before that. No other signals.
Sir
ReplyDeleteI shorted what looked like test of BRN and got stopped out on breakout.
How did u escape that trade?
Just curious.
The Stalker
ReplyDeleteBe very careful taking counter trend trades. TST will not have trapped traders order flow as a BOF
Further logical target of a TST is the other extreme of the range. Here another DP IRH.Too close, less than 10 points. RR is not favourable at all.
Do not try to trade the triggers in isolation. You need to process a lot of background information before taking a decision.
ST
Sir
ReplyDeleteThank you for the wonderful insight.
Generally I look for a volume stamp as additional consideration to take the trade.As you rightly said I should consider possible order flow and RR as well.
Thanks a lot.