Nfty opened within previous day range. IR formed within the first MC. Long above IRH/RN/PDC. Expected a move to PDH. But NS RN resisted . Scratched the trade. Nifty made a Barbed wire around PDC/RN/IRH. Went long above HOD. I expected some stops above HOD which can take the price above PDH. But Nifty suddenly reversed and stopped me out.My sell order was the last one got executed ,it seems. Hesitated for a while to go long. I could enter the move only when it paused at 7609 with SL below BRN. TP at RN 7650.
If you happened to short the BOF of HOD, never keep your SL above PDH especially limit orders. That is at the second level of LOL.Exit above the breakdown bar. Price may jump your stop and you will be in heavy loss within no time