There is a substantial risk of loss associated with trading Derivatives . Losses can and will occur. My methods will not ensure profits
Wednesday, July 3, 2013
03072013
Nifty gaped down and broke BRN. Went short on break of IRL as BPB of BRN. It was a smooth 30 point slide respecting all the flips. Rest of the day Nifty traded in a range. BOF of Range low came very late.
Regarding breakdown of IRL/BRN, I have a doubt. Your terminology uses BPB which I understand to mean buy/sell on pullback after break.
But in today's range breakdown, there was no immediate pullback, in that case do you keep a stop order below/above the range? If pullback doesn't happen do we forego that entry?
thanks vivek
PS: I am using some of your methodology and posting at my blog
I always consider the gap as a move ( or as a wide range bar). Nifty broke BRN to the down side and pulled back. BPB entry trigger happened to be at IRL I would have gone long if Nifty went up and broke IRH as BOF of BRN
It was not a Range breakdown pullback but the BPB of BRN
Regarding breakdown of IRL/BRN, I have a doubt. Your terminology uses BPB which I understand to mean buy/sell on pullback after break.
ReplyDeleteBut in today's range breakdown, there was no immediate pullback, in that case do you keep a stop order below/above the range? If pullback doesn't happen do we forego that entry?
thanks
vivek
PS: I am using some of your methodology and posting at my blog
Vivdev
ReplyDeleteI always consider the gap as a move ( or as a wide range bar).
Nifty broke BRN to the down side and pulled back. BPB entry trigger happened to be at IRL
I would have gone long if Nifty went up and broke IRH as BOF of BRN
It was not a Range breakdown pullback but the BPB of BRN
ST
thanks. it is very clear now.
ReplyDelete