Nifty gaped up above PDH. IR formed. Price failed to go above IRH. Avoided the short as RN ,NS BRN and PDH was below. Price traded between RN and PDH for a long time and broke down. Went short. Covered when the second push down terminated at 6710. I was hoping a move till BRN.Long on break of the swing high . I was looking for a quick trade to PDH but price traded in between for a long time and went up breaking PDH. Covered at a 20 point profit
There is a substantial risk of loss associated with trading Derivatives . Losses can and will occur. My methods will not ensure profits
Monday, March 31, 2014
31032014
Nifty gaped up above PDH. IR formed. Price failed to go above IRH. Avoided the short as RN ,NS BRN and PDH was below. Price traded between RN and PDH for a long time and broke down. Went short. Covered when the second push down terminated at 6710. I was hoping a move till BRN.Long on break of the swing high . I was looking for a quick trade to PDH but price traded in between for a long time and went up breaking PDH. Covered at a 20 point profit
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Hi ST
ReplyDeleteShorted below IRL and RN.
Was the trade correct??
Plz click here
Thanks
TBP
BO IS OF MSP?
ReplyDeleteTBP
ReplyDeleteKnowing where price can have a bounce is important. If you are prepared to deal with such a situation, you can take any trade.
Here PDC/PDH was the major barrier and it gave support for a long time.
ST
wat is PP?
ReplyDeleteHi ST,
ReplyDeleteWhat else gave you confidence to go for that last BO trade apart from order flow?
Thanks
Hi ST
ReplyDeleteHow to identify PP breakout..?
Naveen
Dhadiga
ReplyDeleteYes. But entry was above the consolidation high
Naveen, Sudarshan
http://niftynirvana.blogspot.in/2013/05/pressure-plays.html
ST
URD
ReplyDeleteI was expecting a much more powerful up move. Year end NAV manipulation by the funds
ST
Hi St,
ReplyDeletehttp://screencast.com/t/bww9b7Jd
I am referring to your yesterday post of procedural memory ( stock bee ) and feel lucky enough to get a mentor in the form of your blog.
Thanks a lot.
Nirtos
Hi St,
ReplyDeletedid u place your order for pp above consoldiation and RN also (in case if there is upside breakout.
Nirtos
ST,
ReplyDeleteBOF of pdc , brn ns & pdh didn't trigger buy..?
Ravi
Ravi
ReplyDeleteTrade need space to move.Most of the traders mechanically trade their signals and lose money.
You identified the signal but failed to notice whether there is enough space.
With a swing high,RN,IRL,and IRH above it where it will go?
http://niftynirvana.blogspot.in/2013/07/space.html
ST
Hi ST
ReplyDeletehttp://tinypic.com/r/30a6kgh/8
Bad exits :(
rgds
Kishore
Nirtos
ReplyDeleteNo.I was expecting a break to the down side. Even the BOF of PDH was not able to take the price to the other end.
There were 4 rejections from PDC/PDH. These were getting weaker and weaker. In fact these are the patterns to look for while trading big.
First enter a SL buy order above RN and sell as close to it at every rise. Then Kabooooom
ST
Kishore
ReplyDeleteWhat is the line marked as MSP. Isnt that a previous day level? There is no relevance for that. MSP is a swing pivot the break of which is considered as trend change. Here after the gap up people will look at IRL or PDC to change their bias
You exited the trade at MSP of today,s fall I think.Should have exited above that last pin bar. If you get a reasonable profit say 25 points just exit and look for a re entry
ST
Hi ST
ReplyDeleteWht about my exit for the long..I exited below MC.As soon as my sl hit price BOOOM
Rgfs
Kishore
ST,
ReplyDeleteThanks for the suggestion I didn't observe the RN & IRL..
Ravi
Kishore
ReplyDeleteWatch Pic no 9
http://niftynirvana.blogspot.in/2013/10/initial-stops.html
Most of the time price will pull back to the consolidation high
Where is the MC?An MC at some place is not valid. MC should be the BO candle
http://niftynirvana.blogspot.in/2013/01/master-candle.html
Further the flip of your entry point held well. You should have allowed a little room
http://niftynirvana.blogspot.in/2012/09/price-flips.html
ST
Hi ST,
ReplyDeleteIs there any logic behind choosing your trading timeframe as 3 mins?
Thanks
Karthik
Karthik
ReplyDeleteI started trading the Lance Beggs method and I started using 3M as he does.
Later tried 5M and found that signals are bit late for my comfort and reverted back to 3M
1M is too fast for me to follow
ST
Mutual fund nav manipulation? Something very new concept will u explain if u feel necessary.
ReplyDeleteThanks
Arun
Hello ST
ReplyDeleteRegarding ranges, please have a look at this,
http://i58.tinypic.com/33vggud.jpg
It is of 03/12/13. Marked two main ranges A and B. Within A initial range (WRB), marked micro ranges.
Please confirm my understanding regarding ranges. If wrong please correct it.
Thanks
Hi ST,
ReplyDeleteThanks
These posts making more sense now than before .
Planning to revisit all the posts during this weekend
thanks n rgds
Kishore
URD
ReplyDeleteWhat you have drawn is theoretically correct.But in practice,that kind of micro managing will create problems.Market is a place where a million people execute a million strategies. So allow little overlaps and overshoots and take what is obvious
A.WRB is a probable range.
1.Fall stops in the middle of WRB.Probable range get reduced.
2.BOF of Range High.A pin bar just an overshoot of stop triggering. Range Remains same.
3,4 no need to revise. BOF happened and price is inside the range.
5.This one also a BOF
6.Range BO happens.Here the old Range gets extended a little bit to the BO point.The reason is this will act as a flip when price returns.
In this example if you are taking a FTC trade at HOD, you may think price will reach your range B bottom. This will not happen
You will miss a TST trade if you want to take it. So range B is BO point to HOD.
Then a BOF at the top and at the bottom happens.Most of the time you can ignore tails unless you are going for a direct BO
In markets nothing is certain. We need to operate in an uncertain environment and go on revising the levels. Do not try to apply rigid rules
ST
Super
ReplyDeleteThanks ST
ReplyDelete"range B is BO point to HOD" cleared my doubt, which was the sole purpose for this exercise.
Thanks.
Hi ST,
ReplyDeleteis iCharts up?
investbulls site is down
rgds
Kishore
Hi Dave
ReplyDeleteIf possible could you please upload the image again with the correct range B.?
thanks n rgds
kishore
Kishore
ReplyDeleteIchart is working
ST
ok ST,
ReplyDeleteinvestbulls still not up :(
rgds
Kishore
Hi Kishore
ReplyDeletehttp://i58.tinypic.com/34o20py.jpg
Highlighted the correct range B. As ST says you can ignore the tails.
thanks
Thanks Dave
ReplyDeletergds
Kishore
Kishore,
ReplyDeleteSee how magically the range works
http://www.mql5.com/en/charts/1673256/nse-nifty-m3-gci-financial-ltd