Friday, July 6, 2012

06072012


Nifty gaped down within previous day range. BPB of IR low was a tradeable signal. Skipped it as PDL was very close.BOF of BRN was a long . Again PDL scared me. Went long at BPB of PDL. A scratch. TST at PDL gave another long which moved well. LOL at PDC was also a good trade.

Yesterday I was out of station and could not watch the market. There were no reliable signals. If I traded I would have ended in deep red.

2 comments:

  1. Hi ST
    Would like to share my observation from last 20+ trades that BOF of PDL & PDH are very good trades, like yesterday's.
    I have noted your views regarding trading only BOF and i feel also if we concentrate only on BOF, and not to make it more complicated if restricted to only BOF of PDL & PDH and LOL, success rate can be very high.

    I request you and other readers to share their views.

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  2. Kavi

    Your observation is correct.Many times I have written that a BOF is much more reliable pattern than a TST or BPB.Likewise PDL and PDH are much more reliable DP than a IR.

    Once you understand the core concept, you can trade this in many ways. We must learn to vary our position size as per the reliability of the pattern and location.

    ST

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