Friday, December 20, 2013

20122013


Nifty opened near PDC and refused to go below PDC.First candle acted as IR. Going long was not an option as there were BRN and MSP above. There was a BOF of BRN skipped it as it was counter bias and IRH,PDC,IRL,PDL as barriers below. Went long on the BPB of MSP.Covered around 6240. Nifty traded in a range for a while. BOF of range low ( MSP) was a long signal. Waited as there was no momentum. Finally went long on the BPB of range High.Captured the entire 40 point move and covered at BRN 6300.
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10 comments:

  1. AnonymousDecember 20, 2013 at 4:00 PM

    Namaskaar STji,

    Can the rally above the MSP 6211.10, be considered as a fluid run, against the yesterday morning fall?

    vp

    ReplyDelete
  2. SMART TraderDecember 20, 2013 at 4:03 PM

    VP

    Yes it was a fluid
    Price moved through it without chop

    ST

    ReplyDelete
  3. UnknownDecember 20, 2013 at 4:10 PM

    Hi ST,
    Very nice trade.
    I traded the move from 6230 as VWAP too.. Bears smothered I guess...

    Thanks,
    TBP

    ReplyDelete
  4. amberDecember 20, 2013 at 5:44 PM

    Sir good evening and best of luck for your journey and God Bless You thnx

    ReplyDelete
  5. amberDecember 20, 2013 at 9:36 PM

    Sir if 9.15 am low was not broken can it can be considered as master candle , kindly update thnx

    ReplyDelete
  6. SMART TraderDecember 20, 2013 at 10:24 PM

    amber

    yes. it is a MC

    ST

    ReplyDelete
  7. amberDecember 20, 2013 at 11:12 PM

    Sir thnx very much

    ReplyDelete
  8. AnonymousDecember 23, 2013 at 3:04 PM

    Hi,

    I am delightful to see Nifty - price action charts from you. I am very much interested in price action, as a Forex trader I prefer only daily time frame.
    I am wondering how it works for short time frames on Nifty?
    Anyhow I am going through your charts and terminology. once I read your charts, I can provide my comments.
    Hope your blog can helpful for me start Trading on nifty again, which I left five years ago.

    Thanks,
    Reddy.

    ReplyDelete
  9. SMART TraderDecember 28, 2013 at 9:22 AM

    Reddy

    Thanks for the visit and comment
    Please do give your valuable feedback

    ST

    ReplyDelete
  10. nirtosDecember 28, 2013 at 6:01 PM

    good evening,
    I could not understand the line "BOF of range low ( MSP) was a long signal. " A MSP is supposed to be a higher time frame pivot.
    Nirmal

    ReplyDelete

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