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Today's gapup opening was surprise for me, i was simply not prepare for this. This infuse the feeling of discard.
It was MIRZ but also on extremes of range sense, hence was not thinking to Long. Neither , was thinking to Short this
mad upblast, i cant judge the stop....stops are useless if i venture the short. This was just the sense of this opening.
All of sudden it start falling and big downbar set me the feeling of missing out rewarding short. It was very annoying
not to have anything. But as it was touching/forming the MA bulge, i could visualize that i can trade a test of low in this situation. Took a short in small bounce near 8829 and quite all at 8813.
In this buyer-seller strength/pressure histogram, i have often noticed extreme imbalance in form of small-large
histogram bar that indicate a turning point nearing. Not saying that it dont happen in continuation , but often the prevailing trend changes.
Today, taken two trade, first Long and then Short.
First bar with long tail was indication of prior trend continuation but i was thinking simulatneously a maturing trend which could trap me in Long. So waited a lot untill some MIRZ long setup looked like. It was MIRZ but in respect to first bar it was delayed a bit and less than what i wanted to show it. Still i got Long @8865. Over development in top bar was giving me false impression that it will burst upward and reach 8880-90 zone soon, but continuous shift in volumes made me quit that trade for 9 point loss( didnt waited a bit for Stop Loss ) and immediately gone short @8857.
Short too took little time but reached near low to get out @8839.
(Attached also Buyer/Seller Strength/Pressure chart though none of desision were influenced from this. )