Monday, June 25, 2012

25062012

Nifty opened near PDC . Went above the PDH and formed an initial range. Bias was bullish.Skipped the BPB trade of IR high as BRN was very close.BOF of BRN gave a short signal.As expected it went down to PDH. No long here as there was too much congestion just above . My expectation was a LOL long trade at PDC/DO as the bias was bullish.or a short at DT/BRN/HOD at 5200. Missed the last 80 point move.

3 comments:

  1. Dear ST,

    Happy to inform that my trade matched yours today. Also I have subscribed to a data provider to know the movements better.( I was depending on google finance earlier ).

    I have noticed on hindsight that there was a triple top before the 80 points drop.Is it not a tradable decision level ? (TDL a new one for glossary ??) If yes, is the support at TST,PDH immediately below that mars it from making it a TDL tradable decision level ?

    rgds~Ajith

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  2. OI
    1.I was expecting a range move within HOD/BRN and PDH.I dont fiddle with the middle. was ready to short at range high
    2.Price was above PDC-DO-PDH. clearly bullish bias. avoided a CT trade
    3.LOL support very near.

    As far as possible I stick to major DP only.Slowly becoming a one trick pony.Mainly trading BOF at extremes after a prolonged one sided move.
    ST

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