Nifty Opened above PDH and moved up. Went long on IRH break. TP at NS BRN. Price suddenly fell and got support at BRN.BOF of BRN was a good signal. But I was scared to go long in the light of previous fall. I thought being Friday, Market may reverse. Missed this 50+ point up move.
I too missed the BOF of BRN for the same reason.
ReplyDeleteSir,
ReplyDeleteI have observed that you normally go for direct BO, when a Range High/Low is tested for third time. Today, you have taken the direct BO on the second testing of IRH. You have successfully taken Direct BO yesterday and on 4/3/14 too, when RH was tested for the second time.
One common thing, I can see on all these three occasions is that there was a Higher Low. Was that the factor that influenced your decision? Any other reason for this direct BO?
Thanks.
S.Karthikeyan
Hi ST
ReplyDeleteI took the long trade that you took..
But after that I took a short trade as BPB of BRn NS BRN LOL ...
Got Stopped.
saw the trapped and reversed above the swing high above BRN...
The stop was a CT trade right ..
I was the last man to short there
your comments pls
rgds
Kishore
ST
ReplyDeleteAnd how did you feel when you missed the move ...
Cool mind or had some feelings at that time?
Just wanted to know whether by experience things can be managed
rgds
Kishore
St
ReplyDeleteRead the stop as SHORT in my previous comment
thanks
Kishore
SK
ReplyDeleteToday I thought there will be a pull back after the break of RN.
I trade BO very carefully. Number of test has nothing to do with BO. Whether there is enough order flow to support our entry or not is the question. If the critical mass is getting trapped I will go for direct BO. If there is momentum in the direction I will go for it.
In the case of IR, you can always take a little more risk to capture a trend move from the beginning.
ST
Kishore
ReplyDeleteNothing wrong in your trade. Everybody will look to short here thinking that the market is going to reverse.I escaped it by a tick and you got trapped by a tick.It is all in the game.
You could exit and reverse the trade instead of hoping that the price will come down. It shows you are maturing as a trader.
Focus on execution consistency and trade small. Slowly it will be like playing a video game.Market will give you opportunities day after day. If you miss one today, you may catch two tomorrow
ST
Sir,
ReplyDeleteThanks for the guidance.
S.Karthikeyan
thanks ST,
ReplyDeleteYes now i have started seeing ranges and their plays ...
thanks to you ...
thanks
Kishore