Nifty opened within previous day range.Initial range formed. Skipped BPB of IR low as PDC/ Gap Closure level was too close. Went long on BOF of IR low which moved very well breaking IRH, PDH and BRN.. I was looking to short HOD as BOF. But avoided it as I noticed a Price Flip Zone very close.
Hello ST,
ReplyDeleteI too skipped BPB thinking the PDC was close, however I left even the BOF of IRL thinking the IRH and PDH are close. Am I doing something wrong?
hi
ReplyDeleteI wanted which brokerage house are you using for your trading ..I just wanted to know your views on zerodha.
Thanks
Mr. Pai
ReplyDeleteYou noticed the PDC. Good.
As you mentioned IRH and PDH was very close. But I took the trade because
1.Every trader notices the Gap closure and there will be opposing order flow.
2.Critical mass is short from the open
3.There will be stop loss orders above IRL,Congestion zone top, IRH and PDH.They are all very close to each other.Triggering the first stop started a chain reaction and momentum traders added fuel to the fire.
4.Risk with my SL below PDC was just 10 points.
Financial media will find some funny reasons for today's up move
Think DP, Think Flip zones, Think order flow.Slowly you will get the hang of it. All the best
ST
Akshay
ReplyDeleteNow I am with Zerodha
No problem so far.Satisfied
ST
Dear St
ReplyDeleteGood morning!!
Does Price flip zone will have impact for next couple of days. Or it is to be considered for nt trading day only..
previous swing pivot/major pivot is what price flip zone? Is my understanding is correct
Regards,
Atharva
ReplyDeletePay attention to the one on immediate left.Don't create information overload. Fresh levels do matter
ST