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If anything is possible then a bounce from demand zone 5580-30 coinciding with blue channel lower TL, can make it to touch high of brown channel higher TL around 6000.
On a very layman basis....range should probably expand greater than current 28 point approx....so if its going up then i should expect range extension at this time on higher side.
31-Oct-2012 : Took two Long trades in poorly facilitated environment, not of my liking.
It was not the case of being getting biased for counter trend Long. It was on regular approach. Though i didn't got expected move towards 2nd SD in first Long, but i waited till it had chance to go up as long as being above VWAP.
From natural sense if every thing was in balance then what i was doing with Long could have been done with Short. This was my thought after BE first Long, so why not taking Short when it was mirroring the opposite side ?
Actually everything was developing on b shape as per my view so distance of lower 2ndSD ( short side target ) will always be lesser than distance of upper 2ndSD ( long side target ) as seen w.r.t. stopping point. So subconsciously i was leaned towards better higher reward side unless some thing really develops below lower 2ndSD as MIRZ for continuation.
Second Long i had to terminate as per my time constraints.
You might want to check out vvScreenshot indicator for NinjaTrader. One-click screenshot upload + share on nexusfi.com (formerly BMT), click button and then Ctrl-V paste the bbcode for image to show up in the post.
This little indicator can save a screenshot of a chart (the chart the indicator is applied to) to a user selected folder.
It works with a little button on the chart:
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or with the hotkey Alt+P (this can be changed in line 160 of the code).
These …
Be sure to select upload to bmcharts option and enable bbcode option.