Monday, June 3, 2013

03062013

Nifty opened within previous day range. Broke below PDL, but did not extend beyond BO candle. IR formed. My expectation was a Barbed Wire around PDL. Two attempts to go above PDL and BRN failed. Hence went short on the break of IRL.. Next trade was a BPB of range low.Shorted below the MC.. Whole day market was grinding.
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3 comments:

  1. SAMJune 4, 2013 at 11:16 AM

    Dear ST,

    How much period do you consider as IR..?

    And

    I am not able to find what is LongForm of MC .. in Glossory?

    I was thinking it was related to something related to Consolidation.


    Regards
    Sam



    ReplyDelete
  2. SMART TraderJune 4, 2013 at 7:30 PM

    SAM

    I have made separate posts on
    Initial Range and Master Candles under Structure and Patterns
    Kindly go through it

    ST

    ReplyDelete
  3. SAMJune 4, 2013 at 8:42 PM

    Thanks a lot...

    Will do....

    ReplyDelete

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