Nifty opened just below PDL and immediately went up. BPB of previous day swing high/11-05 low and BRN 4900 a long signal. BOF of PDH gave the second short trade. BOF of DB range low gave another long signal. All the three trades gave good moves
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ST Sir,
ReplyDeleteOn this day you mentioned your 3rd trade as BOF of DB range low. I just take DB trades if they are around DPs. In this trade, there was no specific DP around when you went long. Does this imply that range extremes of double bottom and double top can be considered as decision points, and if proper signals arise trade can be taken??
Anurag
ReplyDeleteTrading range Highs and lows are considered as DP. I rarely use DB/DT because most of the time it will get classified as HOD,LOD, TRH, TRL.IRH and IRL
DPs are nothing but good old S/R. You can trade any SR level provided there is a good signal and RR ratio is favorable. Ensure there is enough room for the price to move.But initially stick to prominent levels.
ST
Alright sir. Thanx a lot. Right now just sticking to established levels.
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