There is a substantial risk of loss associated with trading Derivatives . Losses can and will occur. My methods will not ensure profits
Wednesday, January 16, 2013
16012013
Nifty opened within previous day range. IR formed,MSP of previous day resisted. Short on FTC of IR high .TP when PDL gave support. Short when third attempt to go above IR Low /range high failed.This trade moved well
I took following 3 trades today, on different reading of charts, please correct me and let me know any mistake in understanding.
1. BOF of IRL at 11:15 candle- was stopped out
2. BPB at IRL at 12:18 candle- TP at PDL
3. Double top at IRL, went short at 14:33 candle, though FTA(i.e. PDL) was much closer than before, but still took it. Seeing the strong downward candles, didn't book profit at PDL and it moved well
Read the post titled "Three Trade Setups" Core concept is the acceptance or rejection of these level. every occurrence is unique. Patterns are shortcuts. May not work all the time
Hi ST Sir,
ReplyDeleteI took following 3 trades today, on different reading of charts, please correct me and let me know any mistake in understanding.
1. BOF of IRL at 11:15 candle- was stopped out
2. BPB at IRL at 12:18 candle- TP at PDL
3. Double top at IRL, went short at 14:33 candle, though FTA(i.e. PDL) was much closer than before, but still took it. Seeing the strong downward candles, didn't book profit at PDL and it moved well
hi sir
ReplyDeleteWhy did you not go long on the ftc trade at PDC...?The price rejection was rapid...and fta was also not near.
Akshsy
ReplyDeletePrice did not touch PDC
Could not follow your question
ST
Sorry i meant PDL...
ReplyDeleteHello ST:
ReplyDeletePlease throw some lights on BOF and
BPB. Is there any rules to pick the entry candle?
Tnx,
Sakthivel
ReplyDeleteRead the post titled "Three Trade Setups"
Core concept is the acceptance or rejection of these level. every occurrence is unique. Patterns are shortcuts. May not work all the time
ST
Akshay
ReplyDeleteBias was bearish. CT trade. Flip zone just above it
ST