Thursday, December 5, 2013

05122013

Nifty Gaped up above PDH. Failed to continue above IRH. Short when third attempt to go above 6320 failed. I was expecting a bounce from BRN. But it went further down. TP around 6280.

16 comments:

  1. Hi ST,
    Could spot the same pattern and trade it.
    My confusion is between FTC and BOF. How to differentiate ?

    TBP

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  2. Sir good evening , sir kindly update the inference of 6320 thnx

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  3. I tried trading using some of the Nifty Nirvana concepts today. Trades updated at this link.
    http://www.traderji.com/trading-diary/90116-dasara-system-42.html#post908460

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  4. Sir,

    I went through the important posts again, as suggested by you.I also analysed how you traded, using your 3 set ups, for a number of days.

    While I can comprehend BOF and BPB, I find myself lacking in discretion, when it comes to trading FTC. This comment may sound repetitive(same like yesterday), but I must confess that I need some more inputs regarding FTC to improve my discretion. Please consider posting a detailed write up exclusively on FTC, when time permits. It will be definitely useful for novices like me.

    Thanks, S.Karthikeyan


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  5. TBP

    FTC is a stall after a vertical move. It is the failure of price to continue beyond a certain point. It could be BOF or TST. I will make a separate post soon

    ST

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  6. Amber

    Nothing special about the level. It was absorption. There were sellers above 6320.Price attempted thrice to break the level but failed. It is an FTC

    ST

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  7. KS

    I will do it soon.
    FTC s are low probability trades. Focus on BOF and BPB .

    ST

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  8. Augu Bhai

    It is difficult for me to follow the stock futures as I have not watched it for the last 5 years. I cant say whether the method will work or not on them
    I feel the concept of FTC is not understood well.Focus on BOF and BPB in the beginning

    ST

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  9. Sir any price level where there is absorption and price unable to move above that level can be taken as FTC,sir kindly update thnx

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  10. Sir, Thanks for the reply.

    Karthikeyan

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  11. amber
    Usually FTC is considered after a vertical move or spike. Today it was not the previous swing high but a lower level
    ST

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  12. KS

    Post only once.
    Comments will appear only after moderation.

    ST

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  13. Thanks for checking the charts.

    I am using the structure as a rough guide - may not be able to follow it exactly. Today, I was bit eager to call points as FTC and BO, even before those happened.

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  14. Does FTC level (5320) act as a DP following day?

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  15. Rajesh

    It can be a prominent level
    But we do not consider it as a DP

    ST

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