Disclaimer : I am not a Research Analyst. Hind sight analysis for FUN. Trading future will incur losses. DONOT TRADE
Hi Shashank, great trade.But, there is one thing I have never been able to understand. The question is in this pic:http://i63.tinypic.com/30w07lc.jpg
What I think, is that you need minimum two hits to confirm or establish it as range high or low. The second hit and pull back confirms it to be range high and the trade taken when in the third attempt it manages to cross the range high as dirct BO.
Lets discuss tomorrow...
1> Look at the black line drawn that was HOD.2> Then BOF of HOD happened. It was supposed to reach Bottom of the Range.3> That didn't happen. So for me it looked like pattern failure. Went long expecting orderflow on Top.
Shashank I also have same quetion like TIZ. Also prices was moving like channel in that period with big retracements .. how we can enter without any breakdown failure there. I could only enter above brekout bar with poor rr. Thanks Bharat.