Markets opened with a gap down and at the support formed over last 2 days (6130F).
Short signal got activated in 3rd bar (first arrow) and we got stopped out just after 10am. No long positions recommended as bias is down.
2nd short signal got activated around 11 am (3rd arrow) and then again around 2pm (4th arrow). The last trade moved well.
There is this peculiar situation which happened today where you took a short position at 3rd arrow and then nothing happened or worse your SL got hit. Dealing with this is tricky because your SL at day's high (6135-6140F) never got crossed on a closing basis (5 min candlestick). So if you put the SL in the system, it gets hit but if you wait for the candlestick to get completed, then you can see there was selling at higher levels and it makes sense to hold on short positions or add even more.
Short signal got activated in 3rd bar (first arrow) and we got stopped out just after 10am. No long positions recommended as bias is down.
2nd short signal got activated around 11 am (3rd arrow) and then again around 2pm (4th arrow). The last trade moved well.
There is this peculiar situation which happened today where you took a short position at 3rd arrow and then nothing happened or worse your SL got hit. Dealing with this is tricky because your SL at day's high (6135-6140F) never got crossed on a closing basis (5 min candlestick). So if you put the SL in the system, it gets hit but if you wait for the candlestick to get completed, then you can see there was selling at higher levels and it makes sense to hold on short positions or add even more.
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