There is a substantial risk of loss associated with trading Derivatives . Losses can and will occur. My methods will not ensure profits
Tuesday, May 8, 2012
Nifty opened just below PDH and drifted down and made an initial range. I was not confident to go long when a HL was made as it was CT.. I was expecting a down move either from HOD, IRH or PDH/PDC. BOF of IRH gave a short signal.. BOF of IRL gave a CT long signal which failed. BPB of IRL gave another short which moved well.
IR (Initial Range) is a variation of Opening Range concept. Will make a separate post soon.