Nifty gaped down and found support at PDL. Went long on the first pullback with stop below LOD and PDL.It channeled for a while. Exited the trade when the channel broke.Nifty reversed at DO without testing PDL. Missed this long trade.Went short at the BOF of HOD. Scratched this trade as it refused to move
my assumption was a BOF at today's 11.50 am high after the DT at 5771 and the closing price of 6-11-12.
ReplyDeleteAdhi Narayanan
ReplyDeleteChannel moves are very tricky. Of course this time it worked well. In a Channel every successive highs will look like a BOF. Be careful
ST
Sir,please define BOF,TST,TP,DO
ReplyDeleteNag
ReplyDeletePlease do check the glossary at the bottom of the blog
ST
Hi sir, thanks for prompt reply. Sir, where do we found candlestick charts while the trading time? or marketing hours?
ReplyDeleteNag
ReplyDeleteI am using web based charting from
http://www.icharts.in/
Rs 3900/- for 6 months
ST