Nifty opened within previous day range. First candle acted as IR. For a long time it was a BW around PDC. Went short on break of IRL. Covered on the BOF of PDL. Long trade on the BOF of PDL was a surprise move. Trailed till the end
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ST Sir,
ReplyDeleteGood day, i feared i may miss downfall below PDL when i hesitated to take BPB of PDL.. market gave opportunity to BOF long.. which paid well.
Trades here
I thought it will sell off below PDL after the complex pull back and that red candle
DeleteST
still i can not understand how you escaped from this trade "short BPB of PDL. at crack of minor pivot", even the risk reward was acceptable, and it was not CT.
DeleteShaimino
There was no need for me to short BPB of PDL.
DeleteI was already short on the break of IRL and trailing behind swing highs
Stopped out when BOF of PDL happened.I had to gave back some profit.
If I was not short from IRL, I would have gone short on BPB of PDL and got trapped
ST
Hi ST ,
ReplyDeleteWhy didnt you TP on your last trade at 7770
thanks n rgds
Kishore
My SL was below the swing high BO bar. It did not trigger
DeleteA CPB at 7770 triggered another up move
ST
wasnt there a swing low at 7770 .Why didnt you use that swing low for SL
Delete?
rgds
Kishore
I saw it. But gave some room.
DeletePrice was in a momentum up move trapping positional shorts.Last batch started exiting from break of HOD at 7750.
I thought there is much more to come. Price has not come below MC low which is the BO candle. There was a fluid at 7770-7790 area. Finally price has not hit any DP to think about a reversal. Finally I was already in 40 point profit at 7770 and did not bother about giving back 3 or 4 from it.
ST
thanks ST
DeleteHi ST,
ReplyDeletePlease can you confirm validity of exit of trade 1 and 2 and entry of trade 2.
1) I took the short where you took, but scratched quickly when it came back into range. Was it a wrong exit?
2) took a bpb short below PDL. Was this wrong entry? I exited at your TP, was that ok for my entry?
3) took the bof long which saved my day and some. Turned the day into a good one.
Thanks for your help.
1.Cant say it is wrong. Always expect a pull back to the early flip. Here price did not move above flip, did not break the BO bar high. Did not go above DP PDC. Pre accept the risk before entering the trade. Decide on the stop before entry
Delete2.Entry was right. Unfortunately it reversed, but to give you a better trade.
ST
Hi ST,
DeleteThank you so much. Was my exit for 2nd trade correct, or should I have exited earlier somewhere?
No other way to exit. Even during the exit bar formation we will be hoping for a fall
DeleteST
Thanks a lot ST.
DeleteST,
ReplyDeleteWhy you gave less weightage to lod of yesterday while you took the first trade? it was less then 10 pts for FTA.
Regards
Bharat
Bias was bearish
ReplyDeleteDaily in Decline mode making lower highs and lower lows
Price below Day Open
Price below PDC
Price was not able to go above the range high and not even the opening bar
So took the trade if it bounces back I can always scratch and reverse the trade if required
ST
Sir good evening,sir can PDC can act as IRL and any reason for taking IRL below it,2.15 pm is the MC mentioned by you,kindly update thnx
ReplyDeleteMC is 7770 BO bar
DeletePDC and IRL are different levels
First candle was an MC and the low is taken as IRL
ST
Sir thnx
DeleteNamaskaar STji,
ReplyDeleteAt what point (or how far from entry) do you move SL to breakeven?
Dhanyawaad
No such rules. Depends on price action
DeleteIf price bounces back from FTA. I move stops. otherwise wait for a new swing point
ST
"http://onlyniftyy.blogspot.in/2014/07/30-07-2014.html"here
ReplyDeleteSorry. I could not understand your comment.
DeletePlease explain
ST