There is a substantial risk of loss associated with trading Derivatives . Losses can and will occur. My methods will not ensure profits

Tuesday, March 19, 2013

19032013

Nifty opened within previous day range. Made a cigarette pattern for more than an hour. Break of this tight trading range gave an opportunity to short with stop above PDH. Another signal was a BPB of PDL. Personally I would not have taken these trades being an announcement day. Further Cyprus and DKK threats alive.

5 comments:

  1. Hi ST Sir,

    In the first trade PDC and 5950 were very close, still would you have taken that trade?
    BPB of PDL was a good opportunity, but didn't took it.

    ReplyDelete
  2. Anurag

    Yes, PDC and 5950 ( Which was previous day range mid point) were significant levels. In fact price made a little bounce from there.I wont call this an A grade trade.

    Price will take the path of least resistance.My reading was a high probability of down move than a bullish one. Reasons
    Bearish bias
    Bearish global cues.
    No follow up to initial minor gap up
    Initial move is down.
    Once price fails to break a range extreme. It may move to the other extreme.
    PDH ranked high as a DP. It was a more obvious level than PDC.
    Further PDH happened to be the DO also
    Generally if price is below open , people take a bearish bias

    ST





    ReplyDelete
  3. Dear Sir,
    Please direct me to methods for swing and positional trading which are solid and based on sound market logic like your day trading method.

    ReplyDelete
  4. Anon

    Read

    http://stockbee.blogspot.in/

    I was trading many of Pradeep's methods successfully before focusing on day trading

    Read and re read all his popular posts/ Methods and philosophy

    ST

    ReplyDelete
  5. With that price reading and all those reasons, even I would have taken that trade :)

    ReplyDelete

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