There is a substantial risk of loss associated with trading Derivatives . Losses can and will occur. My methods will not ensure profits
Wednesday, February 8, 2012
Another inside day. Expectation is that sideways move will continue till price breaks out of the previous days range.It did not happen. Price action was a continuation of the previous days action . Small gap up acted as a break out and the pull back failed to go below the breakout point. alternatively one can enter the breakout of the open and a small pause pull back
Later there were three BOF entries and a a good opportunity to go long when the last shaved WRB failed to continue.
Notice how the market respected PLOD, LOD , and PHOD, Location , Location and Location. Pay attention to these levels , always