Boy, what a day. Glad, that I did not prematurely act on my bias but, did wait for the BO / BD check here
The BO happened with a Gap but, unfortunately I was not at my terminal to take advantage of it. else, would’ve been a 30 minute trading day – book partial profits at the 2nd 15 min candle and trail the rest of the position with Breakeven SL
So, what next
My views, we might head to 5900 – 5950 levels that’s where lies next level of major resistance (confluence) but, this makes it a no trading zone (NTZ) for me. For a strong secular rally & momentum to break the 5950 level, correction is a must. I will wait for the correction and to re-enter. Entering Longs at this levels don’t have RR in their favor.
Let me know your thoughts
Apologies, here is the 15 minute chart for today's session
ReplyDeletehttp://i48.tinypic.com/23k4rat.png
BR,