As expected a range bound day. Nifty traded within the last impulse wave of the previous day. Attempted two trades. TST of Range low and BOF of PDH. Both trades ended as scratch. First one reached the target but I exited it when price failed to cross RN
Hi ST
ReplyDeleteAfter a long consolidation, the BO failed. Any pointers on avoiding the trade??
Thanks
TBP
Price never touched PDH till the BO.So waited for a BPB
DeleteIt was just stop triggering above the then HOD swing high.
I take PP trades at areas where multiple tests occurred.
ST
Thanks ST ,
DeleteGot it as i also got trapped in that BO. Rather in 2 BO, I expected the move (marked TST) by you as BO in the fluid & took it. Why your DP is lower than IR?
Thanks,
Deven Malhotra
Nifty opened within the last impulse up move of the previous day.This wave is likely to act as a range.
DeleteSo I kept my sell order below that swing low which is also the MSP. Price did not crack this MSP
ST
ST Sir,
ReplyDeleteAttempted long above PDH, during late hours.. failed.
Trades here
Entry should be on break of the earlier swing high in case of BPB
DeleteST
Yes sir.. i was not sure what kind of pattern it was..
DeleteI thought shorts (initiated after BOF of PDH) will be covered above PDH... attempted trade for that reason
ST
ReplyDeletewhy didnt you trade BO of PDH as PP ?
rgds
Kishore
Price never touched PDH till the BO.So waited for a BPB
DeleteIt was just stop triggering above the then HOD swing high.
I take PP trades at areas where multiple tests occurred.
ST
Hi ST,
ReplyDeleteIts so nice to see today I could match your trades :)) my trades Here..
Cheers!
GK
There was no commitment from Bulls or Bears
DeleteExpected the second trade to run
Tomorrow being weekend expect some good moves
ST
ST,
DeleteThanks.. yes looks like an Inside day, though a small spike upwards..so range is still (7628-7661)..
Cheers!
GK
Sir,
ReplyDeleteI also took both the trades like you .First one was a scratch and 2nd one stopped out as I hesitated to scratch in the hope of moving my trade in my intended direction. Need to learn more from your experience.
Thanks, Saidushmant.
I scratched when third attempt to move down failed
DeleteST
i have shorted BPB of IRL whr u taken TST trade, SL hit -8 . i was expecting that positional critical mass is long , and their SL orders below IRL , where im wrong???
ReplyDeleteNifty opened within the last impulse up move of the previous day.This wave is likely to act as a range.
DeleteSo I kept my sell order below that swing low which is also the MSP. Price did not crack this MSP
A trend reversal happens only when price crack MSP. When attempting a CT trade ensure MSP crack or enough space to the MSP
ST
Looking previous day's closing range is also a good strategy. This minimizes the false trades. This will help us during range day's. Also noted, MSP not broken for the order flow to the downside. excellent analysis. thanks
ReplyDeleteSir good evening at yday eod there was a nice fluid and on the next day it is hard to break that fluid,kindly update thnx
ReplyDeletePrice was not able to break below MSP
DeleteOnce it breaks price will move well through fluid
ST
ST sir
ReplyDelete"As expected a range bound day" is your first sentence today. How did you predicted sir? can you please explain.
Thanks
http://niftynirvana.blogspot.in/2012/02/daily-trading-patterns.html
Deletehttp://niftynirvana.blogspot.in/2013/05/trend-days.html
ST
Thank you ST sir
Delete