Back after Onam. Nifty opened near PDC and sold. First candle acted as IR. Did not go short below IRL as the previous day BO point was a strong FLIP. Range move for a long time. Short on BOF of Range high. trade did not move. Scratched. Did not attempt any other trades.
Hi ST,
ReplyDeleteI read the BOF as trap, waited for PP trade at the bottom of the range. Took the trade on Break of range low then scratched it as it didn't move as expected. Not sure if that was right move ..Any comments ?
TRAP happens in a trend move. Here it was a BOF of a well established range extreme
DeleteST
I entered the BO at the large green candle, but got trapped. How did you manage to avoid the BO trade? There were multiple attempts at the range high prior to that BO.
ReplyDeletePrice was in a lower range and I avoided CT BO
DeleteThere was no BOF at range low to get order flow from trapped traders
Further there were many barriers on top PDC,PDH,DO/HOD and BRN,
ST
Superb... ST thankyou.
DeleteST,
ReplyDeleteWhy you avoided longs above 1.45 on range breakdown failure and ph break. the similar trade you took on 2.42 on 4/09/14
What is the major diffrence between them?
Thanks and Regards
Bharat
I avoid SAR kind of trades. BOF of range low is an opportunity to go long. I avoided it because
DeleteI was already short and exited it where I was supposed to go long. Today the BOF of range high showed that price is not interested to move up.On BOF of range low we are trading into the same area. A low probability one.On 04092014 there was no BOF of range high.It was the first BOF of that range extreme and hence a high probability one
ST
ST,
DeleteOn 4/9/14 at 1.118 bar isnt a range brekout for u ? 4points from the range high it moved.
Kindly guide me on this.
Regards
Bharat
1.18 BOF was a short signal. But there was no space to take it.
DeleteRange continued again till 2.54.BOF of range low came a long after
Here critical mass was short and need to cover at the fag end.So tried a long
ST
ST,
DeleteIn 1.18 bof on 4/9/14 the target range low was at 9 pt diff, if we enter below 1.06 pivot. . and here today we have 12 pt diff if we enter on 1.09 on 9/9 with sl 12 pts if we keep 1.03 high as sl. At the same time when nf spread some time reaching 2 points .. how to take decision in such scenerios ?
Thanks and Regards
Bharat
I will not keep my SL above 1.03 high and sit tight. We are trading the acceptance and rejection of price
DeletePrice tried to move above an established range and got rejects. If price climb above the range high again suspect your short and look for an exit. Natural target of a range BOF is the other extreme of the range. If lucky may run further. Other factors like trend, Critical mass, space, order flow, strength of price barrier etc should be considered. Quality of rejection is to be considered. Today the very next bar invalidated the BO long
ST
Thanks a Lot ST :)
DeleteHi ST
ReplyDeleteCan we say there was an opportunity for BPB PDC short trade??
Thanks
TBP
BPB can be taken either on break of IRL or as a blind short near 8190 with SL above PDL/PDC/BRN
DeleteAvoided break of IRL as there was a strong flip ahead. I am not comfortable with blind touch trades
ST
Hi ST, it seems you have not traded on 8sep14. But I was curious how the trade would have gone. Had it been correct to go long at 4th bar in morning and remain long throughout? As I am learning so am curious.
ReplyDelete4th bar a BPB long. You can stay with the trade.
DeleteLater you can go long on the BO of range high
ST
Thanks ST. I am getting confidence. But it is too early!!!
DeleteHi ST,
ReplyDeleteI have started using your term and following this bog. Thanks for your effort on this blog and answering our queries.
Now it is closed above the BOF and PDF. Looks like we can go long by having just below today's close as SL.
You have not understood the method well, I am afraid
DeleteKindly go through all the important posts given below the blog
ST
Thanks ST. I will go through and understand the methods.
Delete