12:30 pm
First trade today morning .
My Mindset was If prices open above Pivot then I will sell on break of 5039 (p) . It broke the Pivot and After waiting for first few minutes I saw weakness in prices so ..
Sold NF @ 4995 in the morning as
Reason 1 : prices broke first Reaction low of the day ( 5017).
Reason 2: developing Hour Low ema was at 5024 ( 9:45 AM) and price closed below that .
Showing weakness as such Hour TA was OB.
Closed the position ( 10:50 AM) with 15 points loss looking at the pattern developing which was making higher high and higher low .
Also prices started closing above (developing 11:00 AM ) hour low ema .
unfortunately I closed my position and next second , prices start to drop.
EOD :
As I think what wrong move I made ...I think I closed my position right at Pivot point which was 5039 . I should have waited for prices to break Pivot and then close the position . Pivot acted as resistance and prices retraced from there .
Trailing the SL is very important as the market is unfolding , we saw what happened in the last hour today ..
First trade today morning .
My Mindset was If prices open above Pivot then I will sell on break of 5039 (p) . It broke the Pivot and After waiting for first few minutes I saw weakness in prices so ..
Sold NF @ 4995 in the morning as
Reason 1 : prices broke first Reaction low of the day ( 5017).
Reason 2: developing Hour Low ema was at 5024 ( 9:45 AM) and price closed below that .
Showing weakness as such Hour TA was OB.
Closed the position ( 10:50 AM) with 15 points loss looking at the pattern developing which was making higher high and higher low .
Also prices started closing above (developing 11:00 AM ) hour low ema .
unfortunately I closed my position and next second , prices start to drop.
EOD :
As I think what wrong move I made ...I think I closed my position right at Pivot point which was 5039 . I should have waited for prices to break Pivot and then close the position . Pivot acted as resistance and prices retraced from there .
Trailing the SL is very important as the market is unfolding , we saw what happened in the last hour today ..
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