04.11.2015 Wednesday

Prices opened full gap up above the PDH and were unable to sustain above previous day high. Wanted to enter short on the marked location in above chart but unable to do that view I was busy in setting up software and trading module of newly joined broker. I exited the previous broker due to high brokerage only otherwise quality and services provided by them were excellent.

Prices found very choppy and did not found any good trade setup today. At 10:54 Prices Tested the BRN-8100 level and bounced back to the previous day’s range high. After testing the previous day range high, prices started falling down. Expected a BOF on re-test of the BRN level or BO of the BRN. A minor trend line was forming from previous day’s last two swing lows. Noticed that price momentum was slowing down considerably when prices approaching the Trend line and BRN. Went Long on the first green candle which gives me an indication that Bulls have come in.


Prices have broken out in the next candle and went up to test the previous day’s range high and after trading in a range at the previous day’s range high, prices have fallen down to test the trend line. After testing the trend line support prices again bounced back to previous day’s range high. When prices moved up to test the previous day’s range high second time, moved my SL to feasible possible position so that if prices again reverse sharply from this level then I should exit at least some profit. The same thing happened and exited by booking a small profit.