Nifty gaped up above PDH and BRN. Tried to go below them and got rejected. Went long on BPB of BRN/PDC/PDH on break of IRH. Price got rejected from ATH. covered on break entry bar low.Short below IRL. Covered when price refused to go beyond RN. Long on BOF of LOD which was also NS BRN 8300 area.Entry was above RN 8350. Exited on price getting rejected from PDH/PDC
Hi ST
ReplyDeleteNice to see you back!!
ST, what's ATH??
Thanks
TBP
All Time High
DeleteST
Hi ST,
ReplyDeletePlease comment on my trades ..
Especially the second one .
http://tradingdecisionpoints.blogspot.com/2014/11/blog-post.html
thanks
Kishore
Second one is bad luck
DeleteIt was a really a good trade.I escaped it as my physical stop was below the extreme
ST
Hi ST,
ReplyDeleteWhere was your initial SL for the last trade, I got stopped out and reentered.
Physical stop was below the extreme
DeleteST
Ok, thanks ST. Was I wrong in reentering?
DeleteNo. You can always try a reentry.
DeleteBe careful about BW and channel
ST
THank you ST. I am not sure if I did it correctly though because I entered above 1.33 bar and kept SL a few points below entry and I also reduced to 1 lot for that trade because it was reentry.
DeleteThere is no right or wrong way in trading
DeleteIt is all about managing risk
ST
What was your SL after entry for your last trade?
ReplyDeleteMy physical SL was below 8340.
DeleteI was looking at NS BRN and it never went below 8304
In hind sight it is clear that it was a BOF of LOD.
LOD is the 12.15 MC low. Nifty tested this level again at 12.30
ST
Thank You.
DeleteST Sir,
ReplyDeleteSuppose if we didn't took the first trade as you did then is it correct to take ATH/BRN BOF trade below the breakout bar itself where you mark TP for your 1st trade.
Regards
MT
Yes. you can try it.We can expect some stops that can take price below PDH
DeleteBut a SL above HOD is too much of risk. Keep SL above IRH
ST
Dear ST please answer at your leisure
ReplyDelete1. Regarding your 1st trade did you had a SL in mind before entering into the trade, I meant did you pre decided that the entry level bar low will be your SL. I too had this trade in mind but couldnt find a suitable SL
2. Where was your SL for the 2nd trade (IRL)? and why didnt BOF of BRN above didnt qualify as a trade
3. Regarding your 3rd trade (long BOF) Nifty tried to break LOD thrice and failed were you looking to go long there athe minor pivots (though non of them broke eventually); also there is a pin bar down after your entry bar; didnt that pin bar taken off your SL
4. Did another trade of BOF of PDH was available in the last 30-45 mins at your TP location
1.No. We decide to enter on break of IRH. After entry price should not fall below BRN.Stop can be somewhere below BRN the break of which invalidates the trade reason. Exact location is decided later.
Delete2.Stop was above PDH. You have to expect opposing orders at DPs. Look at 9th bar and 11,12,13th bars
3.Explained in early comments. It was a BOF of LOD. and price never went below this level
4.It bounced back from 8370 flip area. I would like a little more penetration of PDH for a strong BOF
ST
Hi ST,
ReplyDeletewhere was your SL in Last Long trade? I was stopped out with that Hammer on RN.
Thanks,
Deven Malhotra
My physical SL was below 8340.
DeleteI was looking at NS BRN and it never went below 8304
In hind sight it is clear that it was a BOF of LOD.
LOD is the 12.15 MC low. Nifty tested this level again at 12.30
Yes. that pin bar might have trapped many.A reentry can be considered here
ST
Your book is really inspirational, appreciate your efforts. I liked the way you have mentioned which trendline is right, which fibo, which ema.. can relate to my dsys of drawing trendlines.. lol
ReplyDeletethe book is simple to understand.. i am struggling a bit to idengify who wins (bears or bulls) at ghe decision point... i guess this will come with practice.
Thanks fof being so honest in the book...
Thanks.
DeleteThe book has very little information on the method
Kindly go through all the important posts listed below the blog
ST
Dear ST,
ReplyDeleteI am unable to trade nifty live charts due to working as employee.
So I am thinking MCX commodities because I can concentrate after office hours from 7 to 11p.m.
I am reading AL Brooks but it is giving lot of confusion/dificulty. I am reading charts and DP book from this blog it gives some clarity. Is it helpful to read YTC books for commodity ?.The same price action helpful on mcx ?.
Thank you.
Nagendra.
I have tried Al Brooks on NF. it never worked for me
DeleteI have not traded commodities so far. So cant give any advise on this
Price action should work on all markets
ST
any place where u post ur trades in mkt timings
ReplyDeleteNo. I do not give any calls
Deletejust sharing a method that work for me
ST
Hi ST,
ReplyDeleteI was watching spot chart on Zerodha today and got a couple of pre-market bars, would they tell us anythign at all about the day ahead? http://imagizer.imageshack.com/img673/869/VF91Qj.png
Frankly. I do not know
DeleteNot interested in adding more variables
ST