Tuesday, May 8, 2012

08052012

Nifty opened just below PDH and drifted down and made an initial range. I was not confident to go long when a HL was made as it was CT.. I was expecting a down move either from HOD, IRH or PDH/PDC. BOF of IRH gave a short signal.. BOF of IRL gave a CT long signal which failed. BPB of IRL gave another short which moved well.
IR (Initial Range) is a variation of Opening Range concept. Will make a separate post soon.

4 comments:

  1. Dear ST,

    Which chart will show the decision points better for Nifty - NF or NS ?
    Also do u think this method works better in non trending market ?

    rgds~Ajith

    ReplyDelete
  2. Oru_ Indian

    I trade NF and watch NF chart only.
    These methods will work in any markets.Follow this if you are really interested
    http://niftynirvana.blogspot.in/2012/02/how-to-learn-day-trading.html

    ST

    ReplyDelete
  3. If you tweet your thoughts during market hours it would make it easy for those who wish to follow your methodology to catch on to the thinking process behind it.

    Just a suggestion !

    Thanks and regards

    @ananth1960

    ReplyDelete

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