This is an illustrative example of the concepts being discussed.Markings are just visualizations on historical data in hindsight analysis
Nifty opened near PDC and moved up. Long at RN 8850 as BPB of PDC .Covered when price failed to move above last day down move high which acted as range high . Short on BOF of range high. Move stopped at IRH and covered the trade there. Missed the up move. Entered late on BPB of BRN/PDH.I expected this to move well as price moved above PDH. It did not move as expected and stopped out below the pull back low
Hi ST,
ReplyDeleteTook only one trade
BOF Range low /IRH where you TP your second trade .
TP at the same location where you TP your last trade
thanks
Kishore
Nice trade
DeleteYou did not get shaken out by BOF of BRN
ST
Hi ST
ReplyDeleteYou said that you entered late on BPB BRN/PDH. Where would have been an early entry?? BOF IRH/Range low?
Thanks
TBP
The long entry was late. Right entry was at BOF of IRH
DeleteThen also I may exit on BOF of BRN
ST
Hello Sir,
ReplyDeleteI was waiting for the price to hit the PDL at the opening. How to identify the BPB.
Go through all the important posts listed below the blog
DeleteST
ST - can you please point to which post I should refer for your first trade.
DeleteI still find trading morning ranges very difficult and hesitate. Perhaps because this is one zone where I have taken most losses. Like you have advised me in the past - perhaps the trade I have taken in opening range MAY have worked on other days but I have not had winning experience so far :(
Todays observations at -
Deletehttps://niftytradediary.wordpress.com/2015/02/19/18-feb-2015/
Notice how I have had mixed experiences with opening ranges :(
https://niftytradediary.wordpress.com/2015/01/30/233/
https://niftytradediary.wordpress.com/2015/01/29/28-jan-2015/
https://niftytradediary.wordpress.com/2015/01/23/22-jan-2015/
Dear ST
ReplyDeleteCan the Pivot (H,L & C) / 3 - be considered as DP ? Pls revert back
Regards,
Veer
I do not use any calculated levels
DeleteI trade markets own levels
ST
Hi ST,
ReplyDeleteIf I may ask this question please...at what time did you place your order for the first trade? Thanks for your help.
S Roy/Bhavir
DeleteI entered the order as price moved above the early Flip
I bet on the first scenario and it worked. aware of what is happening around
http://screencast.com/t/r8aleITidN
ST
Thank you very much ST. Make sense, worth the risk
DeleteI think I should continue taking these - in the long run the sum will be favorable.