Thursday, February 20, 2014

20022014


Nifty gaped down near PDL. Went short on the BPB of  PDL. TP when price refused to move a third leg. BOF  of PDL gave another short signal. TP when price managed to trade above Range low. I am going out of station tonight. Will be back only on Saturday. Trade well.

16 comments:

  1. Sir,
    If time permits, please answer. Do we have a significant critical mass now? If so, it is Longs?
    As tomorrow is Friday, I would like to know this.
    Thanks
    S.Karthikeyan

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  2. No questions, thanks you.
    Wish we had a thank you button.

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  3. Dear ST,
    Still awaiting your explanation on the TT concept.

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  4. ST Sir,

    This query is just for the sake of clarity because I try to emulate your trades post-market with similar markings on the chart.

    Where you said, "BOF of PDH gave another short signal", can I rightly presume you actually meant PDL.

    Regards,
    KSG

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  5. KSG

    Yes PDL.Price never touched PDH

    ST

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  6. SK

    Today many swing traders might have reversed to shorts. If tomorrow morning session market falls, we can expect a reversal at the fag end

    ST

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  7. Sir,
    Thanks for the guidance.
    S.Karthikeyan

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  8. sir,
    in your bof trade, can we short below the low of the break out candle?

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  9. Anon

    You can do it
    But when there is a swing low nearby, cant we expect some stops below it in our favour?
    Suppose you entered on the BO of PDL where you will keep the stop?

    ST


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  10. Sir good evening , sir as in todays trade BOF happened ,what will be the confirmation that this trade can move upto BRN , kindly update thnx

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  11. Amber

    No confirmation.
    Once a DP breaks there is a high probability of price moving to the next DP.

    ST


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  12. sir good morning and thnx very much

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  13. Sir good evening ,sir in todays trade in 5 min t/f can 9.35 a.m candle can be taken as MSP,kindly update thnx

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  14. ST, in the first trade, did you short below the fifth bar? Thanks.

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    Replies
    1. It was a blind short which I call TT ( Touch Trade)
      I did such a trade on 12022014 which was a long trade.
      Nothing new.The good old method of buying a support and selling a resistance

      ST

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