Expecting a short squeeze to the top of the range. Size selling will break to the downside. If size selling is not there, then the top of the range will be reached and may give an extension.
Comment:
It's the ideal price action after entry - hold over the weekend.
Comment:
Move stop to recent low around break even. Probably pushing down to accumulate more inventory and push out late longs but if size selling comes in will break down. Never let a winner turn into a loser, there will always be another setup.
Trade active:
With stop now at 15827 the market either has put in the low of the day and will push up to test high of the range, or break lower and could sell off. Other major index also look weak.
Trade closed: stop reached:
Market could not reach the top of the range which indicates size selling. SL hit at BE.
What information can we take from this? There is selling in this range and the market could move up so we could be at a turning point. Whenever there is consolidation, size players (the ones who move the market) are preparing for the next objective. If the objective is to move the market up supply will be limited.
What information can we take from this? There is selling in this range and the market could move up so we could be at a turning point. Whenever there is consolidation, size players (the ones who move the market) are preparing for the next objective. If the objective is to move the market up supply will be limited.