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Though i clearly see direction to take as Long.... waiting for some thing unknown. Bulge development is holding me to jump for long....and i dont like to short at this structure unless something coincides familiarly.
Since last 3 -4 days NF is steadily regaining its lost trendiness, it had some initial sign of such next course after poor facilitated composite ( 29 Jun - 11 July ). These are dream moves for traders...swing …
2) Current day profile is now pegged between POC( 5310 ) and VAL ( 5280 ) of old composite
standard expectation from this situation are to go upto VAH (5325 ) and then composite high ( approx 5370 ).
3) Current Day seems exhibiting No Follow through over current day development, so this can push down NF for time being.
In current context NF seems again changing its intraday development type - Balance + Small Imbalances from intra-balances. This is opposite to expected fast trend moves. So i feel unexpected behavior and any thing could be easily violated. As long as 5240 is rejected from now, uptrend can be maintained.
My nose got some rainy infection last night. It is painful experience with swelling that dont let do anything with comfort. But a trader cant never remain away from screen so long. At my login, i was disappointed with structure that was at that time. Good thing was , it negated NoFollow thru of yday and opening has taken price away from yday balance. That was easy assessment of direction - Long, but not blindly neither at that price. I decided to wait for some dip, or down to test of VWAP. It was the time of candle marked at 2. For a moment i thought to Short at some price 5332+ , after all if i was expecting a dip to VWAP then why not to enter early short. I was aware of the candle marked 1 , which was successful penetration of R2 ( 5324 ) and next target would have been R3 ( 5340 ). So short at 5332+ was within max risk. Also there were some toppling of delta through out channel that i was thinking in support of short. But contrarily i thought , what would have been the result of those opportunistic short made throughout the channel ? All would have been hanged though they might be in risk limit. Indirectly Short at candle 2 could have been ordinary, no unique. And neither it was on my standard entry type. All this let me to step back and finally wait for pullback to enter long.
But soon after that my ADSL line got disturb leaving me with no internet connection.
