Nifty gaped up above PDH. CT outside gap. My expectation was a channel which did not happen. Went long on BOF of IRL. Scratched this trade. Market made 3 pushes to break above IRL. Went short when the fourth attempt also failed. Nice move down. Another short ar BPB of PDH. TP when the move failed to continue below the previous low.
Hello ST:
ReplyDeletecan you explain elaborately your scratching trades?
because I am wondering how much time or how long you let the price to go back and forth?
Tnx
sakthivel
ReplyDeleteSuch rules will not work. If the price fails to break the FTA within a reasonable time scratch the trade and re assess the situation.
ST
ST,
ReplyDeleteThis is the same case as last month. There was no gap up, just a series change. All the PD values identified are misleading...
Anon
ReplyDeleteNo problem with that.
Most of the day traders watch continuous current contract charts hence all these levels will work
ST