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...
View attachment 39669
The 1hr HTF during the same period shows two DZ's being engulfed...
View attachment 39670
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...
View attachment 39669
The 1hr HTF during the same period shows two DZ's being engulfed...
View attachment 39670
You entered at a good ERC zone indeed. I think the gap DZ was the logical first target, but you used a trailing SL method which is also a good system nonetheless. This was a good trade with correct application of concepts! Thanks for sharing!