So what you are saying is that at 9.50 pm the bears started selling with such volumes that at 10.00pm when the 2 hrly and 4 hrly bulls came in they could do nothing ? Am I right?
To understand further , you are recommending that to anticipate this setup we should already have a short sell limit order in place just below swing low of the day and have a stop in mind about 350 points above that. Am I right ?
And incase the bulls do take over with heavy buying then let stop get triggered. But not to chase the price upwards since we could easily get trapped if the bulls give up??
regards
How it happened yday.I did post 2 hour chart.This one is 5 Min chart.
Green line represents breakout failure i.e;Breaking high of day then not sustaining.
arrow no 1 represents the momentum bar from beers.red line represents the resistance at the opening of momentum bar and then price falls.
Pink line represents the breaking of swing low confirming beers are coming represented by 2nd arrow.The beauty of this bar is that it happenned around 9.50 PM. we know at 10PM we have both 4 hourly and 2 hourly bars are forming.If that bar closed above 53000 levels. The 4 hour and 2 hour bulls would have come with heavy buy orders and took markets to high.Thats where beers made strategy/tactics and around 9.50 they put a bi order and below chart shows where the 4 hour and 2 hour bar closed.Bulls could not do anything thereafter.
We should be placing advance order just below our lower support and we should not chase mkt once it falls heavy .No here our order is caught at 52930-52850.Stop should be above the top of that big red bar or momentum bar because that is point of no return.. that is at 53250.S/L is 300-400 points and we got very big pips .very good.
Below is 4 hour and 2 hour chart.Relate it with 5 Min chart and note what happen at 10 o clock close and how beers have made systematic plan to catch bulls.
To understand further , you are recommending that to anticipate this setup we should already have a short sell limit order in place just below swing low of the day and have a stop in mind about 350 points above that. Am I right ?
And incase the bulls do take over with heavy buying then let stop get triggered. But not to chase the price upwards since we could easily get trapped if the bulls give up??
regards
How it happened yday.I did post 2 hour chart.This one is 5 Min chart.
Green line represents breakout failure i.e;Breaking high of day then not sustaining.
arrow no 1 represents the momentum bar from beers.red line represents the resistance at the opening of momentum bar and then price falls.
Pink line represents the breaking of swing low confirming beers are coming represented by 2nd arrow.The beauty of this bar is that it happenned around 9.50 PM. we know at 10PM we have both 4 hourly and 2 hourly bars are forming.If that bar closed above 53000 levels. The 4 hour and 2 hour bulls would have come with heavy buy orders and took markets to high.Thats where beers made strategy/tactics and around 9.50 they put a bi order and below chart shows where the 4 hour and 2 hour bar closed.Bulls could not do anything thereafter.
We should be placing advance order just below our lower support and we should not chase mkt once it falls heavy .No here our order is caught at 52930-52850.Stop should be above the top of that big red bar or momentum bar because that is point of no return.. that is at 53250.S/L is 300-400 points and we got very big pips .very good.
Below is 4 hour and 2 hour chart.Relate it with 5 Min chart and note what happen at 10 o clock close and how beers have made systematic plan to catch bulls.
