Simo Häyhä Day trading
- Thread starter primitivetrader
- Start date
18) 2-3-20
traded BNF good trade but needed patience as trades come in the post-lunch session.
below is the chart
(3)- the day opened with an intra gap up. but it was a very poor opening. as price went right into Friday's first bar which had a huge volume (1). the first bar of the day on 3M was also having huge supply. on a high basis, it took out previous swing high but failed to close above it. my thought was for any significant up move the high of the first bar (3) should be taken out decisively.
(4)- wide bar test happened immediately after (3). this was good for bulls as decent buying was there. I wanted to take long here but SL was very high so let it go. from (4) moved price did not move as per my expectation. instead, it went into a big trading range for a good number of hours. also the trading range was within (1). with price failed to break first-hour range I concluded that BNF was in control of day traders. so made a game plan to take long at range low if spring happens or to short if UT of the range high. provided price, volume and structure supports.
(6)- downswing but there was a lack of supply at (6).
(5)- created range high within the first hour range.
(7) stopping volume.
(8)- another stopping volume, which springed the low of the range also it was the low of the (1). with some strength @ (4)-(6)-(7) went long in this bar on 1M.
(9)- it was a test of (8) spring. as high volume was there on (8) spring it got tested. here comes the judgement if one is conservative this is another entry @ (9) (if missed the earlier @ 8). its a confirmation entry. but with confirmation comes a little big sl.
(11) the price moved nicely up to 11 after the test @ (9). exited long @ the range high @ LPO.
(12) waited for price to UT (1) & (3) high. things in favor of supply were SOT @ (10) and volume was not supporting the up move also man narrow spread bars from (11) to 12). (3) also had a strong supply. HOD was controlled by supply. but UT did not happen.
(14)- from (12) price moved down strongly with lots of supply as seen in volume. broke the support @ (14). and there was no demand for a picture-perfect short with PDL as LPO. but I missed it.
(3) supply was too good to be taken out by bulls. the price moved down strong with strong supply. range expanded on the downside took support @ (16) also S2 with a bottom reversal.
traded BNF good trade but needed patience as trades come in the post-lunch session.
below is the chart
(3)- the day opened with an intra gap up. but it was a very poor opening. as price went right into Friday's first bar which had a huge volume (1). the first bar of the day on 3M was also having huge supply. on a high basis, it took out previous swing high but failed to close above it. my thought was for any significant up move the high of the first bar (3) should be taken out decisively.
(4)- wide bar test happened immediately after (3). this was good for bulls as decent buying was there. I wanted to take long here but SL was very high so let it go. from (4) moved price did not move as per my expectation. instead, it went into a big trading range for a good number of hours. also the trading range was within (1). with price failed to break first-hour range I concluded that BNF was in control of day traders. so made a game plan to take long at range low if spring happens or to short if UT of the range high. provided price, volume and structure supports.
(6)- downswing but there was a lack of supply at (6).
(5)- created range high within the first hour range.
(7) stopping volume.
(8)- another stopping volume, which springed the low of the range also it was the low of the (1). with some strength @ (4)-(6)-(7) went long in this bar on 1M.
(9)- it was a test of (8) spring. as high volume was there on (8) spring it got tested. here comes the judgement if one is conservative this is another entry @ (9) (if missed the earlier @ 8). its a confirmation entry. but with confirmation comes a little big sl.
(11) the price moved nicely up to 11 after the test @ (9). exited long @ the range high @ LPO.
(12) waited for price to UT (1) & (3) high. things in favor of supply were SOT @ (10) and volume was not supporting the up move also man narrow spread bars from (11) to 12). (3) also had a strong supply. HOD was controlled by supply. but UT did not happen.
(14)- from (12) price moved down strongly with lots of supply as seen in volume. broke the support @ (14). and there was no demand for a picture-perfect short with PDL as LPO. but I missed it.
(3) supply was too good to be taken out by bulls. the price moved down strong with strong supply. range expanded on the downside took support @ (16) also S2 with a bottom reversal.
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