There is a substantial risk of loss associated with trading Derivatives . Losses can and will occur. My methods will not ensure profits
Wednesday, September 17, 2014
17092014
Nifty opened within previous day range. As expected a consolidation day. Only one trade taken. BOF of BRN. TP when price bounced from LOD. Avoided the TST long as it was CT.
In live market it is very difficult to take such counter trend TST trades In hind sight when you look at the chart it may look nice. You can confidently go long if it was a BOF TST and BO trades are blind trades where as BOF and BPB are confirmed trade signals TST signal can be a stall or a small pullback of the trend. BO trades are likely to fail most of the time Better stick to BPB and BOF initially
HI ST Sir, As Market opened above PDL, within the previous Daily Bar. Should'nt we look for long opportunity , when you say " Avoided the the TST long as it was CT " I am getting confused. As I skipped BOF of BRN thinking that the IRH will give support ( I drew the first bar as IRH) and was waiting for BOF of LOD or PDL. Please explain a little as I am working on ' DAILY DOSE'.
We look for long when daily in rally We look for long when price trades in a higher range than the previous range Here price is in a decline mode and trading near the bottom of the previous day range. So preferred trade is short You can always try BOF trades on CT moves as we try to buy the lows and sell the highs of ranges. But avoid CT TST trades.Trend trades are always preferred.
HI, I entered as bof of PDL above swing high 7979 and exited below 9.54 bar as second push failure. Was my exit wrong. and should I have entered ab 9.18 bar ab 7968
What you have done is right. Entry and exit I could ride it a little longer as my stop was below 9.45 Master candle My stop escaped only for a point.It was only luck. Price has created a log fluid. watch it
Daily Rally Daily Decline Price in Higher Range Price in Lower range
Buying Range Low A B A B
Selling Range High B A B A
Buying Range low is an AA trade when price trades in a higher range and Daily in a Rally mode But it is a BB trade when price is in a lower range and Daily in decline AA trades are best, AB medium and BB least preferred. BOF can be attempted even on BB trades Hope I could explain it
Hi ST, Nice explanation, thank you. Yesterday (Sep 18) I lost my network totally after about 10 am, so no trades after that. Missed the morning rally because I was on the phone (at least thats my excuse, not 100% sure if I would have taken that trade had I not been chatting away while watching chart)
Hi ST,
ReplyDeleteWhen you exited, where was your SL - Just at the high of Red Candle or few points above. I kept it 2 pts above that (just trying to be more precise).
Thanks,
Deven Malhotra
It was a point above the red candle.
DeleteThat candle was a MC and I exited above it
ST
Is there any entry long possible (TST at LOD) at the point where you have TP.
ReplyDeleteIn live market it is very difficult to take such counter trend TST trades
DeleteIn hind sight when you look at the chart it may look nice. You can confidently go long if it was a BOF
TST and BO trades are blind trades where as BOF and BPB are confirmed trade signals
TST signal can be a stall or a small pullback of the trend. BO trades are likely to fail most of the time
Better stick to BPB and BOF initially
ST
Thank you.
ReplyDeleteHi ST,
ReplyDeleteI took the short there but below DO only, was it wrong entry?
Nothing wrong
DeleteST
HI ST Sir,
ReplyDeleteAs Market opened above PDL, within the previous Daily Bar.
Should'nt we look for long opportunity , when you say " Avoided the the TST long as it was CT " I am getting confused.
As I skipped BOF of BRN thinking that the IRH will give support ( I drew the first bar as IRH) and was waiting for BOF of LOD or PDL.
Please explain a little as I am working on ' DAILY DOSE'.
Thanks
Arvind.
We look for long when daily in rally
DeleteWe look for long when price trades in a higher range than the previous range
Here price is in a decline mode and trading near the bottom of the previous day range. So preferred trade is short
You can always try BOF trades on CT moves as we try to buy the lows and sell the highs of ranges. But avoid CT TST trades.Trend trades are always preferred.
ST
Hi ST,
ReplyDeleteGood Morning. I missed this morning's ride totally. Where did you catch it?
Above the first pull back high. Still riding
DeleteST
HI, I entered as bof of PDL above swing high 7979 and exited below 9.54 bar as second push failure. Was my exit wrong. and should I have entered ab 9.18 bar ab 7968
DeleteWhat you have done is right. Entry and exit
DeleteI could ride it a little longer as my stop was below 9.45 Master candle
My stop escaped only for a point.It was only luck. Price has created a log fluid. watch it
ST
Thanks
DeleteDaily Rally Daily Decline Price in Higher Range Price in Lower range
ReplyDeleteBuying Range Low A B A B
Selling Range High B A B A
Buying Range low is an AA trade when price trades in a higher range and Daily in a Rally mode
But it is a BB trade when price is in a lower range and Daily in decline
AA trades are best, AB medium and BB least preferred. BOF can be attempted even on BB trades
Hope I could explain it
ST
Top line is heading. not coming properly
DeleteDaily rally, Daily Decline, Higher range, Lower Range
A and B coming under these heading
ST
Hi ST, Nice explanation, thank you. Yesterday (Sep 18) I lost my network totally after about 10 am, so no trades after that. Missed the morning rally because I was on the phone (at least thats my excuse, not 100% sure if I would have taken that trade had I not been chatting away while watching chart)
Delete