Friday, October 11, 2013

11102013



Nifty gaped up well above PDH and sold without giving an opportunity to enter. Found support at PDH/PDC. Went long on the BPB of BRN. Price went where it was supposed to go DO/IRH. Shorted on second TST of DO/IRH. Covered the trade at BRN. Did not go  long on the BOF of BRN. Expected a BOF of HOD at the last hour, but trade did not trigger.Notice the point A. Such levels may create trouble for breakout as well as BOF trades. Trade BOF only on break of level "B" and do not exit BO trades till the crack of point A ( Refer Pic 9 of Initial Stops)

5 comments:

  1. Hi ST sir,

    Thanks a lot for that lovely n useful explanation to avoid wrong trade. I again thank u for updating n guiding us on a regular basis.

    Anurag Jais

    ReplyDelete
  2. Sir,
    Where did you placed your stop in the first trade.
    I entered in the same bar @ 6106 but got stopped out when market came back to 6103.20.
    Thanks.

    ReplyDelete
  3. Arvind Kumar

    We are trading BPB of BRN
    Stop should be below BRN

    ST

    ReplyDelete
  4. sir, just wanted to ask u if u have tried this method on any other script or commodities ??
    Can it be tried ?

    Thanks

    ReplyDelete
  5. anurag

    No. I have not tried.
    Try it. Somebody wrote me it work on NSE currencies

    ST



    ReplyDelete

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