Was not comfortable taking reversal trade, Better to call it a day rather than cribbing..
1> Bias is down or Ranging day. 8700 resisted and is a strong DP. we had rejection from there.
2> Price opened below PDC initial move is UP why ? it should have been down
3> BPB trade By Bias is ranging will avoid taking trade.
4> DH Not a strong rejection to short it it could be a channel move to up side.
5> Is that a channel ?
6> Trend --> Channel move with Trend
Range --> Range Extreme (DH is DP)
DP --> Not a Strong one previous rejection didn't reach range extreme
Space --> Till PDH space available
CM --> 11:30 - 12:30 tight range all shorts may exit
OF --> Exits from CM might give a good move.
7> Why it is struggling may be that is the Channel extreme. It can pullback now to downside of channel will book out and look to reenter
8> Failed to reach the DP buffer space ? Trend is strong should I enter ? hmm hesitated missed..
9> BOF of PDH , but looking at channel and Trend bit risky to shot.
Trend -- NO
Range -- MC candle can act as range NO
DP -- Yes
Space -- NO (no fluid , MSP may act as hurdle)
CM -- Yes (long)
OF -- Longs may cover
Risk -- Above MC candle high risk (NO).
Hesitation missed closed the day.