There is a substantial risk of loss associated with trading Derivatives . Losses can and will occur. My methods will not ensure profits

Thursday, May 8, 2014

08052014



Nifty opened within previous day range. BOF of BRN gave a short signal. TP at PDC/PDL/NS RN 6650.
Missed the sudden up move as there was no reliable signal for a CT trade. Short on BOF of BRN/IRH. Again covered near PDL. Tried a long here. Entry was too early and exit too late. Stopped out below PDL. Rest of the day it was a Barbed wire around NS RN/PDC/PDL

16 comments:

  1. Hi ST

    Where was the exact entry for the second BOF BRN/IRH?

    Thanks

    TBP

    ReplyDelete
    Replies
    1. TBP
      I have drawn a small line there. Below the green candle

      ST

      Delete
  2. Hi ST

    Very nice trades. All missed all those...Took two different trades. Please have a look,

    http://charttechnicals.blogspot.in/

    Thanks.

    ReplyDelete
    Replies
    1. URD

      First one was a nice trade.As you exited early, you could have shorted the BOF of BRN
      It was a Fluid also.Second cant help. BO trades are very low probability ones.Most of them will fail
      Go through the chart. All the BO trapped traders. You can locate minimum 5
      >first bar,IRH,Range High.
      ST

      Delete
  3. Hi ST,

    U took short at BOF of BRN but IRL is there, so why did u take 6650 as target price?

    ReplyDelete
    Replies
    1. Abhishek

      You have to think what other traders are doing.
      Bias was bearish. Price was within previous days low area.
      I assumed BOF of BRN will push the price below IRL and trigger the stops there aiding further fall

      ST

      Delete
  4. I was hoping that the BO at 14:48 candle will at least reach BRN, although I agree that there was not much space. There was a BO of PDL at around 13:00 with SLs above the 12:40 SH which failed. There was some consolidation of a couple of bars just before the 14:48 BO. So I thought I would take a chance for a small 10 points play. I switched to a BOF short when price reentered the range, but it didnt move much after that.

    ReplyDelete
    Replies
    1. PA Trader
      It is very difficult to trade these ranges.
      That is why it is called a Barbed wire
      ST

      Delete
  5. Hi ST
    -15 points

    http://tinypic.com/r/2ia5zxd/8

    I identified the barbed wire but took longs thinking PP.
    I think I didn't notice MSP .
    Please comment

    thanks n rgds
    Kishore

    ReplyDelete
  6. ST,
    Could you please mark the exact point whre you are TP .
    It would be helpfull

    thanks!
    Kishore

    ReplyDelete
    Replies
    1. Kishore

      First trade was good.Avoid trading BW
      Do not attempt BO trades. Even BOF may bounce back from midpoint and scare you

      ST

      Delete
  7. Hi ST,
    You ignored tail for the PDL. If we marked PDL with tail than BOF of PDL would be ignored beacuse of less space NS RN in between.

    Thanks
    Arun

    ReplyDelete
    Replies
    1. Arun

      You are right. Third trade was mediocre with NS Rn and IRL as barrier
      Price never came below the "Real " PDL to trap BO traders

      ST

      Delete
  8. Hi ST,
    Is there a post somewhere on determining IR ?

    ReplyDelete
    Replies
    1. S Roy

      http://niftynirvana.blogspot.in/2012/07/initial-range.html

      ST

      Delete
    2. Thank you very much ST.

      Delete

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