price action trading

[saakk]

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[TraderRavi]

big upmove in USDINR today.........

 

[saakk]

big upmove in USDINR today.........

Ha bhai, but missed 1st real move, couldn't figure out the setup....

 

[saakk]

If your entry is at rit place (good setup, signal bar near EMA, trendline, supp/resis) and market is not doing what you expected, it will always give you a chance to get out flat or wit a tick or 2 loss.

 

[saakk]

Yesterday i was stuck wit a wishful thinking, I was thinking market should go up even after a trendline break, price below EMA and proven bearish market structure. All because of strong UP spike. Fit your THEORIES to FACTS not FACTS to yours THEORIES.

 

[saakk]

9.05 DOJI opening, 9.20 bar tried to breakout and failed wit a long trap, along wit traping the longs in previous 2 bull bars, good short as bulls will cover along wit new shorts, 9.35 is a good long reason; its a doji opening, basically a range, when 9.35 printed a strong bull bar high chances of price moving back to touch range high.

 

[saakk]

Opening bar low is still holding, price testing the downtrend line resistance from first 2 swings of the day.

 

[saakk]

When price is CHOPPING around, its a bad idea to take trade in between the range, because most of the setups will fail to one side then to other side then once again to original side and move to opposite, Took a 2nd entry short it failed then went long the fail 2nd entry short and got traped.

 

[saakk]

3rd time price is trying to break the low of opening bar, if it fails can i expect a HH?????

 

[saakk]

Today price testing the PD breakout area (All time high breakout), till now bulls have defended it, if opening range high is taken out, price should try to test the PD "1" o clock low because it was not tested yesterday after breakout to the low side...