Nifty opened near PDL and fell below it. The first candle was a MC and acted as IR. Shorted below IRL. Nifty traded in a 10 point range for a long time and finally broke down. TP at 7985 when second push failed. Missed the final down move.
Hi ST, I also entered at 10.12 bar but kept only 5 point SL (dint want to risk much on IR) , got hit, then reentered on below 11:45 on 12:15 bar and exited where you did.
5 point is too small a SL.Notice what was happening around Daily in Decline Price below PDC, DO,PDL Price tried to climb back to the previous day range thrice and failed BJP losing ground in elections. PDL,RN,PDL,MC High and PDC above as resistance What else you need for a great trade?
It was above BRN I waited for the second push down and retest of the low brought down to 13.57 bar high after 14.00 bar closed exited when second push failed
I attempt all the BOF trades where I feel a good number of traders get trapped http://niftynirvana.blogspot.in/2014/06/daily-dose.html http://niftynirvana.blogspot.in/2014/08/taming-trend.html The idea of trend is well explained in the above posts
Hi ST
ReplyDeleteCould we have waited for the minor swing high to be taken out before TP??
Thanks
TBP
Expected a range between LOD at that time and BRN
DeleteLooking for a BOF of BRN to short again
ST
Hi ST,
ReplyDeleteTook the first trade as yours .But since i kept the SL at 10 point just abpve PDL it got hit. :(
Took another Short as BO of the 10 point range and covered at the same place as yours..
Please comment
PS:- cannot upload the pic at office
thanks n rgds
Kishore
Price did not go above 8050 after the entry.My stop was above RN
DeleteRange BO trade is OK as it was with the trend
ST
Hi ST,
DeleteCan one keep the SL at 7th candle high/pivot high, after taking the same BPB trade as yours?
Yes You can do it if it is within your risk tolerance
DeleteYou can keep it above 14 th bar also.
ST
ST,
ReplyDelete9 57 bar high was 8051.5 and my SL got hit on the high of that bar at 8051.2
thanks
Kishore
My entry was at 10.12 bar. So I think your entry was earlier
DeleteST
Hi ST, I also entered at 10.12 bar but kept only 5 point SL (dint want to risk much on IR) , got hit, then reentered on below 11:45 on 12:15 bar and exited where you did.
Delete5 point is too small a SL.Notice what was happening around
DeleteDaily in Decline
Price below PDC, DO,PDL
Price tried to climb back to the previous day range thrice and failed
BJP losing ground in elections.
PDL,RN,PDL,MC High and PDC above as resistance
What else you need for a great trade?
ST.
ST, wow! when you put it that way it looks so clean and simple and makes me feel really dumb! I keep missing something or the other always.
DeleteHi ST, Before 1.48 bar where was your SL? after 1.48 bar where was it?
ReplyDeleteIt was above BRN
DeleteI waited for the second push down and retest of the low
brought down to 13.57 bar high after 14.00 bar closed
exited when second push failed
ST
Hi ST,
ReplyDeleteAs of now , if BOF BRn happens should we attempt it. Is it with the trend or CT.
Thanks
I attempt all the BOF trades where I feel a good number of traders get trapped
Deletehttp://niftynirvana.blogspot.in/2014/06/daily-dose.html
http://niftynirvana.blogspot.in/2014/08/taming-trend.html
The idea of trend is well explained in the above posts
ST