This is an illustrative example of the
concepts being discussed.Markings are just visualizations on historical
data in hindsight analysis
After gap up open Nifty was trending down all the day. Could not capture most of the move. Tried one long and a short. BPB of PDH worked well. TST of BRN also made some money. Break below RN 8750 did not trigger and I was looking for a BOF long at BRN 8700
After gap up open Nifty was trending down all the day. Could not capture most of the move. Tried one long and a short. BPB of PDH worked well. TST of BRN also made some money. Break below RN 8750 did not trigger and I was looking for a BOF long at BRN 8700
Hi ST sir,
ReplyDeleteThere was PDC where you took your first trade. Why didn't you wait for that to break? I missed it due to PDC below PDH.
Rup
Price unable to sustain above PDH changes the sentiment. PDC was 12 points away and if it bounces from PDC, we need to deal with it. Below PDC, there was BRN also . DPs are make or break levels. Give weightage to market bias always.
DeleteST
Was there a TST at 8750 level also when it break the earlier Day low
ReplyDeleteStay with the trend. When market trends go with the trend
DeleteWhen price is in a lower range sell the highs. If you want to go CT , do it only on BOF
ST
Thanks Sir
DeleteWhat was your SL for test trade. It went below PL at 11:42. At 11:57 it broke second time after 11:42 and went below PL 11:58. Hence my Query.
ReplyDeleteIt was a BOF. But my entry was blind TST at BRN with a SL of 10 points at 11.59.59 bar. Later raised to below pin bar. Price had fallen 150 points from the open. So I allowed a pull back raising my SL to 8699. Exited when the next push up also failed. Expected a move till 8750 as critical mass was short
DeleteST
You didn't consider TST of PDL ?
ReplyDeleteWhere is TST of PDL?
DeleteST
PDL was around 8770..so around 1100 hr it was testing that zone...
DeleteI have drawn PDL in the chart and as per my chart there was no TST after 10.30
DeleteST
Hi ST,
ReplyDeleteWas n't it a trend gap .
Why didnt you short IRL ?
rgds
Kishore
Bias was bullish, I was looking to long
DeleteI would have shorted if a BOF happened at IRH
ST