Tuesday, May 7, 2013

07052013

Nifty gaped up above PDH and moved up to BRN.. I thought price will drift down and give an opportunity to long at PDH.. But Nifty refused to fall and again climbed above BRN. Entered long on the break of previous swing high. This trade did not channel as expected and I had to scratch it. After making a Cigarette pattern finally a BOF of Range low. happened. Went long on the BO of Range High. This trade gave 20 points. There were no other reliable signals

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3 comments:

  1. MuraliMay 8, 2013 at 7:42 AM

    Dear ST,

    The first trade missed as too early. Second trade, I entered late, as I was waiting for a pullback above range high. If I understand, once it did a BOF at BRN, you entered directly above Range high, right?

    Thanks

    ReplyDelete
  2. SMART TraderMay 8, 2013 at 7:50 PM

    Murali

    Yes I traded it as a Cigarette Pattern. BOF of BRN was an added strength

    ST

    ReplyDelete
  3. MuraliMay 8, 2013 at 9:28 PM

    Thanks ST

    ReplyDelete

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