31052012

Nifty gaped down below PDL.. Market was in no mood to go below the GDP drama. HL gave a long signal. I was watching for a BOF of PDL which did not happen. Better to stay out during major announcements.

Practice.!!!

30052012

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Nifty gaped down below the PDL. Bias bearish. First signal was a BOF  short at DT and IRH. Nifty gave a long signal when the breakout of IRL failed.Expectation was a LOL short at PDL/PDC, but BO of HOD failed and gave another short opportunity.. 70% of the time market will trade in a range. Look to buy low and sell high.of the range

 “There are no shortcuts: even those blessed with raw talent still need to stay on task. Practice is never optional.”

29052012

Nifty gaped up above  PDH. Next three candles were bear candles. Usually such initial move act as a range 50% of the time. Otherwise it may move in a channel.. Nifty got trapped in this range the entire day. If the price is in a range buy the range low and sell the range high.Nifty gave two good trade opportunities today at the extremes.

28052012

NIfty gaped up above PDH. Bias was slightly bullish. Test of the PDH gave a long signal.BOF of DT was a good short signal.. BOF of LOL PDH/PDC  was a good opportunity to go long..
Do not attempt to trade all the Support and Resistance. For example do not trade  the BPB at points marked A and B. Location is everything in trading.

Love the Process