Nifty gaped down below PDC. Failed to go below PDL. Went long on BOF of PDL. Never expected it to move up like this. I was hoping for a move till BRN or a bounce from PDC in the worst case. TP at 8080. Another long on BPB of BRN. TP near 8120
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Hi ST
ReplyDeleteFantastic trade. I could not get an entry till RN. You entered above IRH and the two bar consolidation??
Thanks
TBP
Yes. It was a surprise move
DeleteNever expected it to fly like this
ST
Sir,
ReplyDeleteWhen you entered on BPB of BRN, what was your stop loss, I did the same trade and placed stoploss @ 8102.95 just below the pullback low which was 8103.45, and stopped out.
It was below BRN. BPB signal gets invalidated only below BRN
DeleteAs far as possible hide your SL behind a DP. Sometimes it may not be possible Suppose the BO of BRN goes to 8120 and it pullback to 8110.On entry above 8120 keep SL below 8110 as SL below BRN is too much risk.
ST
Hi, ST,
DeleteDo you place your stop a set distance behind a DP (i.e, 1-2 points) ... or does it vary?
And when stopped out does the bar have to have closed below your stop for it to be valid? Thanks.
Yes. Preferably one or two points below a DP
DeleteIf DP is too far, I look for Bar extremes and swing points
I dont wait for bar closing. Exit is on break
ST
Hi ST,
ReplyDeleteDidnt take any trade.
I didnt take the BOF PDL because it was
1.CT (Hope I am correct ..Please advice)
2.Many barriers like pdc brn.etc..
Later didnt have the courage to take another trade since nifty already moved so many points ..
please comment
thanks n rgds
Kishore
It was CT. PDC was very near as FTA
DeleteBut it was a level that supported twice yesterday and a well established range low
So took a chance . I will exit if price bounce from PDC and came below the two consolidation bars
ST
Same thing here. I did not get a chance to enter early and didnt have courage to enter later. no trade.
DeleteSir good evening,sir kindly update on this I was hoping for a move till BRN thnx
ReplyDeleteIt was the BOF of a range low. Natural target is the range High which is BRN
DeleteST
Sir thnx
DeleteST,
ReplyDeleteYou normally wait for clear pivot ,in case of failure on one side to take longs .. here u just took above the pause bar. and we had FTA yesterdays close..also market was in down trend . day before yesterday and yesterday was a consolidation day .. we can expect further down move. What made u confident to take agressive entry there. i completely miss the move:(
Kindly enllighten.
Bharat
Many times I enter without a clear pivot. Even on break of a BO bar extreme
DeleteThe question is whether price is getting accepted or rejected. You can enter above BO bar high if you feel price is getting rejected. More confirmation means more risk.
We expect a down move.Wait for a BOF of range high BRN or a BPB of PDL.to go short. Price attempts to move below PDL and fail.Then look to go long.It is time to change the bias. Nobody knows how long the upmove will last. It may refuse to go above PDC, BRN or PDH. Then look for a short signal.
ST
Thanks ST:)
ReplyDelete