Friday, October 4, 2013

04102013


Nifty opened below PDC and spiked. Broke PDC and PDH. Skipped the BPB of PDH as BRN was very near. Price tested BRN and fell. Shorted below the MSP. TP when break below DO failed to continue. Long on the BOF of DO. TP on fall below PDH. Last trade was the DT BOF of BRN/HOD. Nice 50 point move down.

18 comments:

  1. cant v take the first short directly below that 2nd bar(10.25 i guess) after touching BRN which formed a pivot low(same like u took that 2nd short)

    ReplyDelete
  2. Anon
    You can take
    But there is a very high probability of price bouncing from PDH/MSP/PDC cluster.

    ST

    ReplyDelete
  3. what is full form of pdh pdc n all?
    please tell so we can understand..

    ReplyDelete
  4. Hello sir,
    There is lil confusion in this last trade ,there was a big green candle which broke HOD so in the sense we have to see that candle Breakout .
    so how you took that Risk before that candle breakout !!!!..

    Guptak03

    ReplyDelete
  5. Gupta
    I was very confident about the trade. So took the first opportunity.
    Alternatively you can enter at the break of the Master candle low
    The concept is the rejection of price level 6000.entry location etc are just tactics only.
    Acceptance and rejection of Decision point is the core concept on which the method is built

    ST

    ReplyDelete
  6. Sir,

    I have traded all the BOF today on wrong side and had big loss. Is there a way of trading the breakouts and break out failures? Often i see in NF we dont get any chance to trade a big breakout if we keep waiting for retracement. So, i try to take positions on breakouts itself. Is that wrong? How do we identify valid breakouts and BOfs ?

    ReplyDelete
  7. why the trade "Long on the BOF of DO. " was not terminated below msp when the price coreected/ breached to pdc
    shai

    ReplyDelete
  8. Shai

    Where is the MSP of that up move ?
    I don,t find any.
    Did you notice anything special in the previous two moves between 5940-5980 ? That is why I stayed with the trade.

    ST

    ReplyDelete
  9. Anon
    "How do we identify valid breakouts and BOfs ?"
    Simple question. But the entire trading community is struggling for a century to find an answer.

    ST

    ReplyDelete
  10. sir,

    all ur entries are on crack of pivots alone, or do u also take bar level entries also?

    ReplyDelete
  11. Anon

    Not all entries are pivot cracks
    Sometimes it is the break of MC or last significant candle.
    My entries are always where I expect some order flow in my favour. Another thing is as far as possible I enter at probable flips.
    Real entry trigger is TST,BPB,BOF patterns. To make it safer I wait for a formation and enter on break of it

    ST

    ReplyDelete
  12. "Did you notice anything special in the previous two moves between 5940-5980 ? That is why I stayed with the trade."
    i believe it was fluid state, or any other factor also ?

    shai

    ReplyDelete
  13. my earlier question was wrongly posed, i apologize for the same. the question i intended was

    why the trade "Long on the BOF of DO. " was not terminated when the price coreected/ breached to pdc (below earstwhile msp level shown in figure)

    shai

    ReplyDelete
  14. Shai

    Yes it was a fluid.Even during the last down move it acted as a fluid.
    MSP is always relevant for the current move only.
    PDC and PDH were broken both sides earlier and are not Virgin levels. In my experience PDC is not a prominent level as PDH or PDL. To work well DPs should be very clearly visible to all

    ST

    ReplyDelete
  15. shai

    Further, think about the order flow.
    Critical mass was short and wanted to exit. People have shorted heavily on break of MSP and further on break of DO/LOD. I expected a reasonable up move and stayed with the trade

    ST

    ReplyDelete
  16. "Even during the last down move it acted as a fluid" do you mean gap down ( 5940-5980) may also be taken as fluid, and so the consequent move like fluid after DO

    Shai

    ReplyDelete
  17. shai

    Gaps, WRB and spikes may act as fluid
    There are no certainties in Markets. It is just an element in the overall decision making process

    ST

    ReplyDelete

Note: Only a member of this blog may post a comment.