Monday, November 25, 2013

25112013

Nifty gaped up and spiked. First trade was a BPB of PDH. TP at BRN. There was a FTC above the spike high. I did not attempt it. I was ready to long on TST or BOF of PDH . But market reversed before that,fooling me. BPB of HOD/BRN gave a long signal. Was not confident about the trade as I was trading into BRN 6100 of NS. Still I could make 20 points.

8 comments:

  1. xtrader1

    Price can't go vertical for long. After a spike there will be a pull back. The next attempt of price to go above the earlier high fails. This indicates an exhaustion.So price will drift down. This is called FTC. Usually it will fall till the lower DP. Ensure space and remember they are counter trend.
    Todays action can be a weak BOF of BRN

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  2. Sir ,Can we consider the first wide bar as MC.
    I tried the second long ,but my order did not got filled.
    Thanks.

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  3. Dear ST

    There is a clear gap between the way you read the market and the way I read. Though fundamentals are same as what you have taught us.

    I was not able to see BPB at PDH, probably I was looking for a deeper PB. I went short at 6095 after the pin bar, considering it to be BOF of BRN. Though it was a CT trade but the way price settled in sub 6100 zone, gave me the confidence. I was targeting PDH with TSL at each pivot high, eventually got stopped out at 6080.

    Second trade I took was BPB of HOD but considering the top of pin bar as HOD. Entered at 6124 and exited at 6130.
    Though I have been following your blog for around 1.5 year, has been trading it for quite some time, have done hundreds of charts...but the way you trade is just awesome. Most of the time I am left thinking, why was I not able to see market that way as ST does.

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  4. Arvind kumar

    No.There is just one candle inside it
    Better to have three or four

    St

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  5. Anon

    We are not good enough to be disappointed.We are bad enough to get to work.

    Click to read more

    ST

    ReplyDelete
  6. sir what is IR levels of today?

    shriram

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  7. Shriram

    Sorry.
    I did not check the comments during trading hours

    ST

    ReplyDelete

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