Friday, January 4, 2013

04012013

Nifty opened within Previous day range and sold. Went short on BPB of PDL. Scratched the trade when it failed to extend beyond Breakout bar. BOF of PDL gave another short signal. another scratch trade. Even the BOF could not move price to LOD. Went long on the breakout of swing high with a stop below PDL.

3 comments:

  1. Sir, Why did u go long on EOd trade, also why do u feel market went up at EOD, when it didn't show any upmove on expected previous days.

    Thanx

    Regards

    ReplyDelete
  2. ratnakar

    Market was trading below the previous day range and the bias was bearish. When it reentered the previous day range, it was a major transition and the bias changed.

    Further PDL-LOD was a probable range. But even the BOF of this range high could not push down the price to LOD

    Now the critical mass is short. Where do you expect them to keep their stop loss orders ? Above the swing high 6030 and above DO 6035, no doubt
    En cashed the SL trigger move

    ST

    ReplyDelete
  3. Thanx for the explaination but still not convinced. Rather most of the asian markets ended high EOD, feels funny not many dared to buy after fiscal deal n voting days.. n today they making new high...

    ReplyDelete

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