Thursday, May 31, 2012

31052012


Nifty gaped down below PDL.. Market was in no mood to go below the GDP drama. HL gave a long signal. I was watching for a BOF of PDL which did not happen. Better to stay out during major announcements.
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5 comments:

  1. bhupinderMay 31, 2012 at 9:41 PM

    Can you tell at what point of time you determined HL level? And btw what is this GDP drama about?
    B.P.Singh

    ReplyDelete
  2. bhupinderMay 31, 2012 at 9:47 PM

    What was your SL after going long at HL? Would you convert your SL to TSL? If yes, how it will work?

    ReplyDelete
  3. SMART TraderMay 31, 2012 at 10:28 PM

    BPS
    I went long when a higher low candle appeared

    I was referring to the market reaction to GDP announcement. Notice the 40 point wide candle.

    Most of the time I end up exiting around FTA. and almost always it is not the right exit.

    ST

    ReplyDelete
  4. SMART TraderMay 31, 2012 at 10:33 PM

    BPS
    Regarding SL
    My physical SL was below LOD. But once if it falls below the HL I may scratch the trade

    ST

    ReplyDelete
  5. bhupinderMay 31, 2012 at 11:00 PM

    Thanks dear, for prompt response.

    ReplyDelete

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