Nifty gaped up near BRN 8500 and came down. Missed a TST long at PDH. BPB long on break of BRN avoided as I felt NF needed some consolidation. Short below BRN and the trade moved beyond the target PDH/PDC.TP when price bounced from NS BRN. Later attempted two trades. A BO at BRN and a long on the BOF. Both stopped out. Could not capture the next two good moves
Sir,
ReplyDeleteYour thoughts please for the TST sell at PDH/PDC around 2:30 pm.
Thanks.
URD
PDC-PDH LOL was sure sell area. I did not want to jump in front of the speeding train
DeleteSo waited for a reaction and retest. But it got rejected so fast and RR became unfavorable
These kind of volatility is scary
ST
Sir good evening,sir as per you after a 50 point change direction,today after open it reached 50 points,can this be considered where u have taken first short in addition with it,kindly update thnx
ReplyDeleteYou cannot take a trade on this alone.
DeleteBut market has a tendency to make a range within option strikes
ST
Sir thnx
DeleteI also placed SL order 8497.5 with trigger 8497.8. It was not executed. What was your order? What should have been done in my case?
ReplyDeleteI got a very bad fill at 8493 at 6 point slip. Luckily trade moved well
DeleteNo other way.Use SL-M orders during these kind of volatility especially for exit
ST
I think you were entering short at 8493 - 8497 zone (First trade). but you have mentioned exit here. I am little confused.
DeleteAristatle
DeleteIt was a general observation.
If markets jumps your SL, it can be disastrous
ST
Thanks ST
DeleteHi ST,
ReplyDeleteI think you missed my comment for 21st april chart for opening trade - "You have mentioned that you placed sell order around 8500, could you explain the details of these kind of trades, like on what conditions you decide to take trades like these ? where would the initial sl be in this trade ? how you expect price to move to satisfy your trade premise ?"
In any trade, do you expect sometimes big moves or you always keep your expectations neutral, just reacting on what price does ? what are the pre-conditions you have observed prior to big moves ?
Regards
These kind of trades can only be attempted when you feel a level will hold.
DeleteFor example a level say 8400 gives support multiple times and finally breaks down. Apart from BRN the level is a major flip also. Now a counter trend move happens to the upside. If you expect 8400 to resist simply feed a sell order at 8400 and a SL order at 8410.
Big moves happen when critical mass get trapped on intraday basis. Investment buying can always make big rallies
ST
Hi ST,
ReplyDeleteI am not doing Live trading for last one week due to time constraints. but closely watching the market and your site.
I had same view on your first trade and going long at PDH.
What about going long at 11:42 candle TST of BRN 8400. going long immediately after the down candle filled up with candles. because last subsequent day lows are just 10 pts difference.
or going long at 11:52 candle.
Nothing wrong in it . The bias was bearish and CT TST trades are low probability ones
DeletePrefer with the trend TST trades
ST
Thanks ST
DeleteST,
ReplyDeleteWhy you avoided bpb BRN below 13.03 after that PP failed. ?Where do we enter in this type of move if move continue to fall ?
Thanks and Regards
Bharat
After a DP break ideally pull back should not move beyond DP. If it does, it shows lack of momentum and suspect the move
DeleteST
ST,
ReplyDeleteI remember, you have mentioned that, you will write elaborately about TST and its entry exit setup in a separately article. I think a more deep understanding about TST is required in my case.
Will do
DeleteST