Reversing at 2814 can be a bit tricky if the 30 or 60 did not also agree......we would be prematurely reversing when a clear cut confirmation is there.Above 2836......ah,that's a beauty......let that Rs22 go.
Taking it at 2814 would have been right today and wrong in another.
But no harm though in getting in small positions and adding on at 2836.
Great stuff as always,ST.
Saint
Saint,
At this stage of my learning I would never have dreamt of taking a position at 2814. Even at 2836 + room, I would have hesitated as the long wick of this candle is very discouraging. Only a convincing break of the WRB Hi + room would have made me take that long after an exhausting day of many ups and down and that too at the end of the day. Guess we have miles to go to even reach a small part of your trading ability.
A major area (in fact the key) to successfully trade miniflow is to judge the reversals. This skill can only be had with experience. Saint, I would request you to continue your detailed commentary on reversals that we encounter everyday on miniflow with your ideas like the one you have given today. This will complicate the thread bit, but the insight into your way of thinking will help us in recognizing the signs early and taking action. Only seasoned trader like you would have taken the last trade (of going long) - we were either too exhausted, shell shocked or licking our wounds to really think coherently at that point of time.
Thanks as ever for your inputs
Bee