Dear alphaT and all others, Happy new year!!
Sharing my analysis of nifty on 3rd Jan when it formed an ERC zone in the 15 min time frame. Entry was at 12250 and exit was at 12233 since it bounced from the upper DZ at 12190, engulfed two SZ's and hit the trailing SL. Alternatively, the position could have been carried over to the next day since it bounced from the upper of the two stacked DZ's below. Please provide your feedback...
The 1hr HTF during the same period shows two DZ's being engulfed...