Nifty opened below PDC/RN. Unexpectedly broke above PDH. There was no follow up buying and went short below RN 7750. trade refused to move beyond IRL. Covered at a small profit. Another short on the second BOF of PDH. It broke IRL and stalled at NS BRN. Covered when second push failed. Tried another PP trade long . This trade also did not move as expected. Bounced from PDH/PDC area
Hi ST,
ReplyDeletefor the last PP trade.
There was a BOF from the Barbwire (8,9 candle before you took trade). Was this the reason to take PP trade ?
Not that alone. i expected some stops there
ReplyDeletepeople might have shorted the break of PDH and later IRL
Some of them will expect further fall and stay tight with SL above IRL
Up move was just that stop triggering
ST
Thanks ST.
ReplyDeleteHi ST,
ReplyDeleteWhy did you avoid BPB of PDH trade at 10:23 AM when the initial trend is bullish. What was your thought process while taking your second trade on BOF of PDH when there were 2 attempts of BOF of PDC and RN failed before that.
Thank you,
Kiran.
10.23 there was no entry trigger. I usually enter on break of the extreme after a pull back
Deletein LOL situations, usually the first levels will break and the second will hold
http://niftynirvana.blogspot.in/2012/03/layer-over-layer.html
ST
Thank you ST
DeleteST Sir,
ReplyDeleteI am taking PAUSE to trading, because of planned works.. Will be back in 2 months
Trades here
Rose
DeleteAttend to the planned works. There is life beyond trading
All the best
ST
Was it not TST of LOD and NSBRN @1442 candle ? may be a long could have been taken there... there was just about 10 points space above that (upto IRL)
ReplyDeleteSumesh
DeleteYes it was a TST.
But in live market psychologically it is not possible to take such trades
It will look good on hindsight analysis of charts. In real trading we will mess up with such signals
ST
ST Sir,
ReplyDeleteA big thanks for your generosity in sharing your unique insights into trading. Giving hope that maybe one day I can trade profitably.
A couple of doubts on today's chart:
1. BPB of PDH?: Could we have treated the 10:03am red bar as a pullback and gone long above it? Or was there something wrong with that red bar that we cannot call it a pullback.
2. TST of NS BRN?: If we were trading TST, was there a long above 13:09pm red bar after second push down at 13:15pm failed? FTA was 10 points above.
Thanks
Raghuveer
DeleteDo not look for the patterns in isolation. Price action trading is not blind pattern trading
You need to take a decision as per the situation. Price had already gone up more than 100 points since yesterday evening. Today morning it had moved 40 points. No pivot crack to the downside to trap shorts.No bear trap to look for stop triggering. You can consider such inside bars as pullback when price is breaking out of a prolonged consolidation. Not in an over extended move
In hindsight you will be able to see many patterns. But in real trading it is very difficult to trade such moves. Price was chopping around within IRL and NS BRN. How do we know the chop is over?
ST
Thanks ST sir.
DeleteOverlooked the over extended move and no shorts trapped points.
i missed ur first trade
ReplyDeletehow u ignore PDC RN there? wats ut thaught process?
usually i ignore a DP if price moved up once and down once ( total 2 times) , for third time i ignore it,
You can safely ignore RN and PDC here. So many traders have gone long on break of PDH
DeleteThey will keep their SL below the new swing low formed at PDH. These orders are enough to crack PDC and RN
The order flow was very favourable. So took the short.
ST
ST sir, Learnt todays lesson that apart from our trading we should also have an idea about other traders entries, sl, tsl and exits.
DeleteThank you
Legendary Trader Ed Seykota's Greatest Quotes
ReplyDeleteMust See This Video For Traders
https://www.youtube.com/watch?v=TTukkCJB-0c
Nice one
DeleteThanks
ST
ST Sir,
ReplyDeleteThanks for your sharing and caring attitude.
Regarding above chart,
i) Did you expect your second trade to move beyond IRL to where you took profit?
ii) If I had marked IRH as the high of 9:27 & 9:30 candles, would there have been a BPB logg signal?
Regards,
KSG
All the trades start as a scalp to FTC. Depending on other factors like Trend, critical mass Order flow etc, I will take a decision there to hold for a while or exit. I will not go for a direct break above PDH or BPB of IRH as I felt the move over extended
DeleteST
hello ST sir,
ReplyDeletei am new learner.
what is th meaning of pivot crack ?
and what is CT trade meaning.
Can u pls tell.
thanks & regards
radha
You cannot follow or practice this method without a minimum level of market experience
DeletePlease go through some trading forums to get some basic knowledge.
https://docs.google.com/file/d/0B12RhuYKWeSUM2QxN3VxTmM2S2M/edit?usp=sharing
Down load and read the compilation to get some idea
ST
thank you sir,
ReplyDeletei will follow
Regards
radha
Hi ST,
ReplyDeleteGood morning. Could we consider the price movement so far as FTC, Stop losses gathering below PDH, so can ride it down if it happens or is price too bullish for this?
Tried a short below PDH. Stopped out.
DeleteBOF is not moving up.Critical Mass positional as well as day traders are long
Cant rule out a massive unwinding towards close
ST
Thanks a lot.
DeleteST
Deleteme too shorted and stopped out. i think ideal entry is low of master candle which not triggered
hi ST
Deletei have written all the processes( steps) which i need to run on brain before trade entry but the problem is not able to process all the steps and take action fastly and doubting and second thinking leading to hesitation( that am i right?) and missing many trades.
Knowing and doing is totally different.
DeleteTrading is something to be learned by doing like cycling and swimming
You will fall down and will drink a lot of water before it clicks
ST