Nifty opened within previous day range. Being an announcement day did not attempt any trade early morning.Could not get a short signal as Nifty did not test PDH and there was no retest of HOD.Shorted the BPB of IR Low even though I suspected a "Bracket". Stopped out for a point.Did not attempt any other trade. Later only I came to know Nifty was channeling down.Channels are really frustrating. Is there a way to identify it earlier ?
Dear ST...BOF of PDH on NS was there....any significance for our method???
ReplyDeletebizagra
ReplyDeleteI do not monitor NS other than the BRN. Very difficult to day trade NF looking at NS because of Premium/Discount
ST
Hi ST,
ReplyDeleteYour post on brackets and envelops was great. I am sure it will be really very helpful to me and others. You have analyzed it as usual thoroughly.
How can we identify channels early? I do not know, but one thing i would like to share is that when market is trending strongly like today, as you would know, it makes the flags, either bull or bear flags depending upon the trend, and they may happen inside the channel. We can trade those flags and continue to trade the flags until stopped out.
Thanks
Greetings!!
ReplyDeleteI do second Bizagra's statement.
Form the day I came to know your trading concept, I have noticed thrice it has happened on NS. BOF happened on NS but not on NF. I have trade them with SL based on NS value I it worked all three times
I have been noting OHLC prices for NS..Since I am using Trade tiger I can open two charts at a time...
Sir, Believe me It is helping lot if we are keeping tab on NS values
Thanking you & Best Regards