Friday, April 12, 2013

12042013

Nifty opened within previous day range and immediately broke PDL. The very first bar acted as the IR. It was a Barbed Wire pattern around PDL. When it broke IRL, I was looking to short.Price formed another range below IRL. Went long when  BOF move of range low broke IRL. TP at HOD. Short on BOF of IRH. This trade did not move as expected.
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1 comment:

  1. AnuragApril 14, 2013 at 11:14 PM

    Hi ST Sir,

    In ur second trade i.e. BOF of IRH, where did u entered the trade? You have marked a blue line at highs of previous 3-4 bars, does that represent FTA??

    Struggling with identification of FTA and using them in the system. I was considering range of 2:33PM bar as FTA.

    ReplyDelete

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