2 trades again today
Again HT short failure in ITC, This was actually against 1H, i didnt see it/ignored it. Only saw the waning 1H momentum. It eventually gave a simple PB that worked ok. ( Didnt trade )
Anyway, These HT patterns are at the edge of mean reversion vs momentum. I will try to be more selective. Also considering exiting them if BO is rejected immediately
Long INFY. This looks extended in 15m but thats due to break from horizontal PA. Gave a decent compression for entry. Most of my entries are turning into 1H patterns and making me wait.
This long worked well. Took some off at 1X and 2X. Aggressively tightened on FT of previous high. The stop was a bit too tight. I meant to exit so thats ok, but plan is to hold through small consolidations as well. So a better exit would be somewhere below the pin bar allowing inside bars esp since i had already taken about 63% position out. INFY gave one more strong leg after consolidation break ( not in chart )
Now a story of this chart for fun in long sentence. This is simple PB in 15m that was at the base of 1H H&T flag, which in turn was a BO of small consolidation in Daily after rejection at lows, and this daily consolidation BO failure and return to range was a failure of weekly PB to turn. Weekly has been struggling to turn for few bars, i guess we are waiting for results tomorrow before moving in either direction.
Again HT short failure in ITC, This was actually against 1H, i didnt see it/ignored it. Only saw the waning 1H momentum. It eventually gave a simple PB that worked ok. ( Didnt trade )
Anyway, These HT patterns are at the edge of mean reversion vs momentum. I will try to be more selective. Also considering exiting them if BO is rejected immediately
Long INFY. This looks extended in 15m but thats due to break from horizontal PA. Gave a decent compression for entry. Most of my entries are turning into 1H patterns and making me wait.
This long worked well. Took some off at 1X and 2X. Aggressively tightened on FT of previous high. The stop was a bit too tight. I meant to exit so thats ok, but plan is to hold through small consolidations as well. So a better exit would be somewhere below the pin bar allowing inside bars esp since i had already taken about 63% position out. INFY gave one more strong leg after consolidation break ( not in chart )
Now a story of this chart for fun in long sentence. This is simple PB in 15m that was at the base of 1H H&T flag, which in turn was a BO of small consolidation in Daily after rejection at lows, and this daily consolidation BO failure and return to range was a failure of weekly PB to turn. Weekly has been struggling to turn for few bars, i guess we are waiting for results tomorrow before moving in either direction.