Expiry day. I am not comfortable trading expiry. I simply do not trust the market on such days. Today also lost a little. Nifty opened within previous day range. IR formed. Broke IRL and PDL and formed a Barbed Wire around PDL for a while. Went short on the BPB of range low. Market went down respecting all the Flips. But after stopping me out for a point.I was not confident to re enter. Missed a 50 point trade. Tomorrow I will not be available Will be back on Monday.
Hi ST,
ReplyDeleteIt appears that except at the point that you exited, market respected all flips in a downtrend right from open... Would u call it a trend day?
Actually, I meant Fractal Pivots, not Flips...
ReplyDeleteAugu Bhai
ReplyDeleteYes. It was a clear down trend day.
Market was making lower pivot highs continuously.
ST
I did not trade but my observation at EOD was the 3 hour range low break itself could be a short trade given lower highs since morning. A pressure play if I understand correctly your terminology.
ReplyDeleteAlso a kind of descending triangle since the tops were all lower.
vivdev
ReplyDeleteYes. You are correct
But on expiry days Market is not in control of the day traders. Big players dominate. They do not care about all these decision points and there is a very high probability of getting whipsawed left and right.I am not very confident trading on these days
ST