There is a substantial risk of loss associated with trading Derivatives . Losses can and will occur. My methods will not ensure profits
Friday, December 21, 2012
21122012
Nifty opened near PDL( wrongly marked as PDH in chart) and sold. IR formed. Almost all the day it moved within a small range. Attempted a long trade on BOF of Range Low. scratched later. Missed the final down move.
Sir given the day's movement where could we have got onto final down move....on the 2:45 red candle?? (when minor pullback failed to go above range low) Also given the first WRB, can range high be used as a DP (there were 3 BOF of range high)?
Thanks. Corrected Very difficult to trade such a narrow range during live market. We will know the right entry only on hindsight.Today for all the signals FTA was too close
Couldnt take that down move, now just analyzing what could have been right entry point. Even if that results in being stopped out, bt conceptually it should correct, that hurts little less :)
Cant say the BPB of range low was a short opportunity because that range got extended by the earlier BOF hammer bar.So theoretically not a breakout Hammer low gave some support and price bounced back. We could have taken a chance and shorted with a stop above range high
It could be.Prfererebly on the long side.Lower support level was getting extended little by little and there was no follow up selling or stop triggering. Even the final fall was the result of weekend liquidation ST
Looking at the past few month's charts for last 5-6 days before expiry, NS shows clearer failures and pullbacks than NF. I read that discussion between u, SS and KPL sir, and totally agree that NF is what we trade and it should be the one that we should keep a track of. But during the last few days before expiry when premium reduces, can keeping an eye on both NS and NF offer better trade opportunities??
There is nothing wrong looking at NS if you find it useful. Experiment and tweak the method to suit your comfort level without diluting the core concepts. You must own your system to trade profitably.
Hi ST Sir,
ReplyDeleteA small typo it should be PDL (instead of PDH).
Sir given the day's movement where could we have got onto final down move....on the 2:45 red candle?? (when minor pullback failed to go above range low)
Also given the first WRB, can range high be used as a DP (there were 3 BOF of range high)?
Anurag
ReplyDeleteThanks. Corrected
Very difficult to trade such a narrow range during live market. We will know the right entry only on hindsight.Today for all the signals FTA was too close
ST
True sir.
ReplyDeleteCouldnt take that down move, now just analyzing what could have been right entry point. Even if that results in being stopped out, bt conceptually it should correct, that hurts little less :)
Anurag
ReplyDeleteCant say the BPB of range low was a short opportunity because that range got extended by the earlier BOF hammer bar.So theoretically not a breakout Hammer low gave some support and price bounced back.
We could have taken a chance and shorted with a stop above range high
ST
Thanx a lot for your guidance ST sir. U rock!!
ReplyDeletehi
ReplyDeleteCan today's tight trading range be taken as cigarette pattern..if not why?
Dear ST,
ReplyDeleteSeasons Greeting!!
It was nice BOF in NS @ 5882..I got nice short trade with OH 5888 as sl.. booked all at DL.. It seams that you are not watching NS at all..
Thanking you & Wishing you and your family very happy and prosperous New year
Best Regards
Akshay
ReplyDeleteIt could be.Prfererebly on the long side.Lower support level was getting extended little by little and there was no follow up selling or stop triggering. Even the final fall was the result of weekend liquidation
ST
Atharva
ReplyDeleteI watch only the BRN of spot Nifty
Don't want to create confusion. Trading NF looking at NS is trying to shoot a flying pigeon looking at its shadow
SY
ST Sir,
ReplyDeleteLooking at the past few month's charts for last 5-6 days before expiry, NS shows clearer failures and pullbacks than NF. I read that discussion between u, SS and KPL sir, and totally agree that NF is what we trade and it should be the one that we should keep a track of. But during the last few days before expiry when premium reduces, can keeping an eye on both NS and NF offer better trade opportunities??
Anurag
ReplyDeleteThere is nothing wrong looking at NS if you find it useful. Experiment and tweak the method to suit your comfort level without diluting the core concepts. You must own your system to trade profitably.
ST
Merry Christmas n Happy new year to u and your family sir. God Bless!!
ReplyDeleteAnurag
ReplyDeleteThanks, Same to you
ST
Sir were ar u?i think u ar celebrating your xmas holydays.
ReplyDeleteThanks nd Regards
Sarath