Nifty opened near PDL and fell. Short on the BPB of PDL. TP when it bounced from BRN. Second trade was a long on the BPB of PDL. TP when price failed to cross PDH. Shorted the BOF of PDH below PDC. Price bounced from IRH closed the trade at 9 point profit. Last trade was a PP above PDH/HOD. This trade failed . Exited at breakeven
Hi ST
ReplyDeleteNice trades
Was BOF BRN 7600 an opportunity to go long??
Any reasons to avoid it??
Thanks
TBP
I exited the short above the swing high.
DeleteThen there was not much space with IRL and PDL above it
ST
ST Sir,
ReplyDeleteGood day.. bagged 65 points
Trades here
Sir.. i observed that when ever i had 1st traded ended in good profit (20+) .. i am able to catch end day well.. psychological advantage ? :)
Yes. Well begun is half done
DeleteST
Hi ST,
ReplyDeleteFor second trade "TP when price failed to cross PDH" Please can you tell at what time you exited? Thanks.
I exited on close of that bearish engulfing bar which made HOD
DeleteST
Dear ST,
ReplyDeleteI have a query regarding your third trade. The target for this trade would have been IRH. Price did not reach the IRH but bounced up before that. You took profit when price crossed the top of the red candle. Why did you feel that the price would not go down further? Couldnt this just have been a normal pullback, after which price would have resumed its journey towards IRH?
Thanks.
It almost touched IRH. My expectation was a maximum move to PDL
Delete7640 was the earlier BO point and a strong flip. Also the end of a fluid area
The point qualifies as MSP also
I thought it will range between PDC and IRH. So exited quickly.
ST
Hi ST, What is your thought process for taking long at PBP of PDL when RN and PDC were just above the range. - Prakash
ReplyDeletePDH and PDL are very important points. Previous day candle is considered as a range
DeletePrice attempted to go below PDL and failed,After coming back above PDL, it was pushed down twice but failed
RN was 10 poit away. If it reverses from there always I can exit at breakeven. Risk was also low. so attempted it
ST
Thanks a Lot ST for detailed explanation.- Prakash
DeleteRegarding your second trade, Why the first BPB not taken? is there any reason behind it?
ReplyDeleteActually I was bearish and was expecting a BOF
DeleteI had a SL sell order below the pull back swing low. I did not expect it to break the high
ST
Sir good evening ,sir sent a mail when time permits kindly check thnx
ReplyDeleteOK
DeleteST
ST,
ReplyDeleteWhy u avoided short below 11.15 or 11.36 On IRH and yesterdays lod failure.. but took the PDH failure below 12.30 with same price action? I m missing something. Kindly Enlinghten
Regards
Bharat
How these situations are similar?
DeleteIn both the cases after breakout I waited for a pull back
Short was initiated below this swing low
In the first case price did not break the swing low. So no short trade
Second case trade was on break of this swing low
ST
Dear sir,
ReplyDeleteI am trying to implement your strategy on stocks but number of my successful trades is less. Need ur guidance on same here http://decisionpointstrading.blogspot.in/2014/07/180714_18.html?m=1
I have not tried it on stocks.
DeleteYou may need to back test and find the right stocks
TBP is trading it on Tata Steel
ST
My thought is that technical analysis should work in all liquid stocks. If concept is one than it must work on stocks too. Is my thinking not correct?
DeleteYes. It should work.
DeleteBut different contracts behave differently
This depends on liquidity, free float of stocks, Inter market dependencies etc
ST
ST sir,
ReplyDeleteDo you have any personal email id or mobile no?if you are willing to share please share.It is great to know you are also from Kerala!!!
You can mail me at
Deleteniftynirvana at g mail dot com
But I prefer to interact through the blog
ST
Sir kindly update the significance of two small lines drawn above PP and PDH thnx
ReplyDeleteFirst one is my entry and the second one exit
DeleteST
Sir good morning and thnx
Delete