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.

3 comments:

  1. 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

    ReplyDelete
  2. Vivdev

    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

    ST

    ReplyDelete
  3. thanks. it is very clear now.

    ReplyDelete

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