- markets open gapup
- but first bar closes near low meaning selling at higher levels
- so until the high of first bar is taken out, no point in going long
- if one is long from yesterday, then trailing SL is 5 or 10 bar low
- both these go hit today
- now cannot go long, till 20 bar swing indicator gives a buy
- even then, this can whipsaw
- option data shows increasing OI at 10700 CE
5 bar SL hit ... the 10 bar got hit at the previous big red bar
- but first bar closes near low meaning selling at higher levels
- so until the high of first bar is taken out, no point in going long
- if one is long from yesterday, then trailing SL is 5 or 10 bar low
- both these go hit today
- now cannot go long, till 20 bar swing indicator gives a buy
- even then, this can whipsaw
- option data shows increasing OI at 10700 CE
5 bar SL hit ... the 10 bar got hit at the previous big red bar
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