Nifty gaped down below PDL. Outside trend gap. Stalled at NS BRN area and reversed. Thought RN-PDC confluence will stop the move. Could enter late at the pull back. Excellent momentum and fluid gave confidence. Exited at the end of fluid. TRAP pattern gave a signal to long again. TP near RN. Expected a break down at the fag end. It did not happen
Should we consider NS RN too
ReplyDeleteI do not track them all the time. I was looking to go long on a pull back.When I looked at the trading SW, I found price came to NS RN and started moving up. A confluence is always good. If market reacts there, take note. Otherwise skip it
ReplyDeleteST
Thank you ST.
ReplyDeleteSir what is the abbrevation for NS RN& its significance
ReplyDeleteNS is Nifty Spot value and RN refers to values ending in 50
Deletehttp://niftynirvana.blogspot.in/2012/09/round-numbers.html
http://niftynirvana.blogspot.in/2012/02/clash-of-titans.html
Please go through all the important posts listed below the blog
ST
Thank you very much
ReplyDeleteTrying to follow discretionary trading only that Iam doing it on crude oil bcos of my time schedule .So far so good .