I was not very confident about that long. Was expecting a stall or reversal at 7870 area which was a strong FLIP 08102014 low. Kept the SL below that MC so that I will not lose. Luckily it worked
Today an outside trend gap day. So avoided Trend gaps are likely to attract profit booking at the first sign of opposite order flow. http://niftynirvana.blogspot.in/2012/08/gaps.html Further the area was NS BRN 7800 which was a strong resistance earlier likely to lend support It will be clear if you look at the Daily Chart
I had listed BPB long of IRH as trade possibility in morning itself... but having missed the initial minute of trading, I wasn't sure what is the actual IRH. It seemed it must be 7845-50 but didn't want to assume blindly, so missed out on the only possible trade for the day.
Plan to switch to another chart provider which gives cleaned data for first minute of trading.
Gave 2 triggers for short entry for possible BOF but cancelled them since the up momentum seemed quite strong.
Thanks ST. I was aware of this, but it's perplexing why everyone else apart from icharts gives this 'raw' NSE data which has block trades etc. I get data from NLC RT data which is very similar to the Nest trader data, so even that has the usual spikes at open and no great help. Now trying to get trial from global data feeds.
After going through many historical charts using 1 min NSE data, my sense is icharts data gives better levels and so better results.
Hi ST,
ReplyDeleteMy trades.
Took a second long (i dont know why) and stopped out .I felt the price will move till pdh because of trapped traders ..
http://tradingdecisionpoints.blogspot.com/2014/10/blog-post.html
Please comment
rgds
Kishore
Price was already up 100 points from the low without a consolidation
DeleteAvoid buying after a lot of buying has taken place. Wait for a consolidation
ST
Yes ST,
DeleteThat Bullish bar just after our SL hit took my mind .
thanks n rgds
Kishore
Sir,
ReplyDeleteWhy did not you TP at PDL?
My trades.
http://screencast.com/t/m1EKbuRrIiyX
Thanks
Arvind
Stop was kept below the BO bar low. It did not trigger
DeleteGood trades
ST
Thanks ST for the trades.
ReplyDeleteTBP
Hi ST,
ReplyDeleteWhy didn't you come out, when price didn't make a higher high (in 2nd attempt after BPB entry)?
Thanks,
Deven Malhotra
I was not very confident about that long. Was expecting a stall or reversal at 7870 area which was a strong FLIP
Delete08102014 low. Kept the SL below that MC so that I will not lose. Luckily it worked
ST
Why did you not take Short below First candle, MC? Can You, please, explain your thought process?
ReplyDeleteToday an outside trend gap day. So avoided
DeleteTrend gaps are likely to attract profit booking at the first sign of opposite order flow.
http://niftynirvana.blogspot.in/2012/08/gaps.html
Further the area was NS BRN 7800 which was a strong resistance earlier likely to lend support
It will be clear if you look at the Daily Chart
ST
Thank you for nice explanation of gaps.
DeleteI had listed BPB long of IRH as trade possibility in morning itself... but having missed the initial minute of trading, I wasn't sure what is the actual IRH. It seemed it must be 7845-50 but didn't want to assume blindly, so missed out on the only possible trade for the day.
ReplyDeletePlan to switch to another chart provider which gives cleaned data for first minute of trading.
Gave 2 triggers for short entry for possible BOF but cancelled them since the up momentum seemed quite strong.
http://www.icharts.in/faqs/icharts-faq/intraday-open-high-low-does-not-match-with-odin-terminal-data.html
DeleteST
Thanks ST. I was aware of this, but it's perplexing why everyone else apart from icharts gives this 'raw' NSE data which has block trades etc. I get data from NLC RT data which is very similar to the Nest trader data, so even that has the usual spikes at open and no great help. Now trying to get trial from global data feeds.
DeleteAfter going through many historical charts using 1 min NSE data, my sense is icharts data gives better levels and so better results.
does today qualify to be trend type 1 day?
ReplyDeletebias towards a range bound kinda day tomorrow?
If you consider the opening gap down as today,s move, it will appear as a reversal day
ReplyDeleteDiwali Rally is also due. Further Election is round the corner
ST
Did you catch the short ST? looking back, 9.21 looks like an awesome entry if we look at 9:18 as a breakout failure.
ReplyDeleteNo. I hesitated and missed it
DeletePDC and BRN was a concern. Now a BW around BRN?
ST
What is 'BW' ? Please add 'BW' to your glossary .
DeleteThanks,
Senthil.
Barbed Wire
DeleteST
it indeed is BW around BRN ... just doesn't move ..
Deleteshould the Decision point now be the BW high ~ 7910?
This month already has too many holidays, tomorrow has been added to the list.
Delete