LUXIND - A lesson in "Don't second-guess your set-up"

Trading Charts & Strategies 📈
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Hi folks!

Here’s the status of Advances & Declines from NSE:

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So, when market opened and the Declines outnumbered the Advances, I thought no significant opportunities would emerge. But LuxInd crossed-over into my “entry price” level. (see chart)

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The signal was generated on 2-8-2024 and set-up said it’s a “High Probability Opportunity”. Normally, I should have taken the trade. However, as all-around LuxInd, stocks were in red, I thought I would be trapped, so I “second-guessed” the system and ignored the signal to take position at 2185.25. The stock hit 10% and has closed strongly and I am red-faced. So an opportunity was missed because of you know what!

Anyway, market is a good beast. So I will wait for another opportunity to be identified by my set-up and this time I promise I won’t second-guess!

All the best folks!