Nifty broke above PDH and spiked. Could not enter on the first pullback as I expected a deeper one. Entered long on second pullback. As expected it channeled. I was expecting the channel till BRN.But it broke BRN and moved up. Now I was looking for a short.I expected a BPB when price broke below BRN.It happened to be a BOF. I was anticipating a BOF of HOD like yesterday. Price could not reach HOD. BRN of Spot Nifty was giving stiff resistance at Nifty Future 5720.Always respect BRN of Nifty Spot and Futures.
There is a substantial risk of loss associated with trading Derivatives . Losses can and will occur. My methods will not ensure profits
Friday, September 21, 2012
21092012
Nifty broke above PDH and spiked. Could not enter on the first pullback as I expected a deeper one. Entered long on second pullback. As expected it channeled. I was expecting the channel till BRN.But it broke BRN and moved up. Now I was looking for a short.I expected a BPB when price broke below BRN.It happened to be a BOF. I was anticipating a BOF of HOD like yesterday. Price could not reach HOD. BRN of Spot Nifty was giving stiff resistance at Nifty Future 5720.Always respect BRN of Nifty Spot and Futures.
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ReplyDeleteObservation... Whenever a the first bar after a Nifty Gap-up is a green bar of decent size, then Nifty continues to move up.
ReplyDeleteBut if the bar following the Gap-up is a red bar, then the direction is unclear.
@ Anon
ReplyDeleteThanks.
@Augu Bhai
Thanks. Helpful observation
Will pay attention to this
ST
will not the color of the bar depend on the interval just wondering?...This goes for all signals too - eg. A short ma may give a buy, but another time frame may give a sell. regards rb
ReplyDeleteRaghu
ReplyDeleteYes. Horizontal Price levels only matter. Everything else is just illusions
St