Tuna's Crude Recordbook

[singsanjay09]

Trade # 1
Long @ 3009 / SL Deep 2980

I am also with you,my long @3008 Isl below 2998

 

[singsanjay09]

I am also with you,my long @3008 Isl below 2998

Isl still survived.

 

[Tuna]

TSL @ 2990


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[singsanjay09]

Finaly tsl hit for me.

 

[Tuna]

Finaly tsl hit for me.

Yes, but I will not keep SL there (My SL also might get hit, thats a different story). What I have seen, if you take a position and look into chart for your SL, chances are high that folks will come to take that ideal SL place as per chart - cause our traditional trading logic teaches us to keep it exactly where you kept it. And I bet it was not your SL alone, there were many, justing asking the shorter to come and take it. Just look at the volume for that candle. That was a lucrative liqudity pool for bears. They will not miss it easily.

Thats why, For this kind of trade, I see where is traditional SL place as per chart, go little deeper than that if I expect spikes against my position. Then offseting that much point - I reduce my size and enter. If the trade have to come to 2990, it have to go further down- can not be an instant fake short.

Not giving free gyan here - just sharing what I learnt the hard way.

 

[Tuna]

TSL @ 3000 now


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[Tuna]

TSL Hit -8 point


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[Tuna]

Let see till 6-45 pm. I am not confident of the current downside. Might be a fake out, which will be confirmed if 3035 is taken out with high volume. Otherwise we are back in range of 2995/3005 to 2940/2960.

Back in the same boring range


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[vijkris]

Any news came kya, sudden fall?

 

[Tuna]

Don't think so


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