On Intraday Basis, this trade failed today. But the trade on the whole is still on with today's low as stop loss. Seems like a imperfect broadening formation. More than Technicals, the inherent nature of markets in current phase (volatility) makes it more probable to see such formation. That is, markets being volatile in a Range.
Also, this is a classic example of Bias. In the afternoon I was thinking of this as a channel. Now, I am looking at it as Broadening formation. So, because I am looking to go Swing Long, I might be getting biased. Why am I still looking at it then? Because I am relying on instincts here but with proper SL.
Tc
Also, this is a classic example of Bias. In the afternoon I was thinking of this as a channel. Now, I am looking at it as Broadening formation. So, because I am looking to go Swing Long, I might be getting biased. Why am I still looking at it then? Because I am relying on instincts here but with proper SL.
Tc
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