Nifty opened near PDC and refused to go below PDC.First candle acted as IR. Going long was not an option as there were BRN and MSP above. There was a BOF of BRN skipped it as it was counter bias and IRH,PDC,IRL,PDL as barriers below. Went long on the BPB of MSP.Covered around 6240. Nifty traded in a range for a while. BOF of range low ( MSP) was a long signal. Waited as there was no momentum. Finally went long on the BPB of range High.Captured the entire 40 point move and covered at BRN 6300.
Namaskaar STji,
ReplyDeleteCan the rally above the MSP 6211.10, be considered as a fluid run, against the yesterday morning fall?
vp
VP
ReplyDeleteYes it was a fluid
Price moved through it without chop
ST
Hi ST,
ReplyDeleteVery nice trade.
I traded the move from 6230 as VWAP too.. Bears smothered I guess...
Thanks,
TBP
Sir good evening and best of luck for your journey and God Bless You thnx
ReplyDeleteSir if 9.15 am low was not broken can it can be considered as master candle , kindly update thnx
ReplyDeleteamber
ReplyDeleteyes. it is a MC
ST
Sir thnx very much
ReplyDeleteHi,
ReplyDeleteI am delightful to see Nifty - price action charts from you. I am very much interested in price action, as a Forex trader I prefer only daily time frame.
I am wondering how it works for short time frames on Nifty?
Anyhow I am going through your charts and terminology. once I read your charts, I can provide my comments.
Hope your blog can helpful for me start Trading on nifty again, which I left five years ago.
Thanks,
Reddy.
Reddy
ReplyDeleteThanks for the visit and comment
Please do give your valuable feedback
ST
good evening,
ReplyDeleteI could not understand the line "BOF of range low ( MSP) was a long signal. " A MSP is supposed to be a higher time frame pivot.
Nirmal