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

Thursday, July 17, 2014

17072014



As expected a range bound day. Nifty traded within the last impulse wave of the previous day. Attempted two trades. TST of Range low and BOF of PDH. Both trades ended as scratch. First one reached the target but I exited it when price failed to cross RN

23 comments:

  1. Hi ST
    After a long consolidation, the BO failed. Any pointers on avoiding the trade??

    Thanks
    TBP

    ReplyDelete
    Replies
    1. Price never touched PDH till the BO.So waited for a BPB
      It was just stop triggering above the then HOD swing high.
      I take PP trades at areas where multiple tests occurred.

      ST

      Delete
    2. Thanks ST ,

      Got it as i also got trapped in that BO. Rather in 2 BO, I expected the move (marked TST) by you as BO in the fluid & took it. Why your DP is lower than IR?

      Thanks,
      Deven Malhotra

      Delete
    3. Nifty opened within the last impulse up move of the previous day.This wave is likely to act as a range.
      So I kept my sell order below that swing low which is also the MSP. Price did not crack this MSP

      ST

      Delete
  2. ST Sir,

    Attempted long above PDH, during late hours.. failed.
    Trades here

    ReplyDelete
    Replies
    1. Entry should be on break of the earlier swing high in case of BPB

      ST

      Delete
    2. Yes sir.. i was not sure what kind of pattern it was..
      I thought shorts (initiated after BOF of PDH) will be covered above PDH... attempted trade for that reason

      Delete
  3. ST
    why didnt you trade BO of PDH as PP ?

    rgds
    Kishore

    ReplyDelete
    Replies
    1. Price never touched PDH till the BO.So waited for a BPB
      It was just stop triggering above the then HOD swing high.
      I take PP trades at areas where multiple tests occurred.

      ST

      Delete
  4. Hi ST,

    Its so nice to see today I could match your trades :)) my trades Here..

    Cheers!
    GK

    ReplyDelete
    Replies
    1. There was no commitment from Bulls or Bears
      Expected the second trade to run
      Tomorrow being weekend expect some good moves

      ST

      Delete
    2. ST,

      Thanks.. yes looks like an Inside day, though a small spike upwards..so range is still (7628-7661)..

      Cheers!
      GK

      Delete
  5. Sir,
    I also took both the trades like you .First one was a scratch and 2nd one stopped out as I hesitated to scratch in the hope of moving my trade in my intended direction. Need to learn more from your experience.
    Thanks, Saidushmant.

    ReplyDelete
    Replies
    1. I scratched when third attempt to move down failed

      ST

      Delete
  6. i have shorted BPB of IRL whr u taken TST trade, SL hit -8 . i was expecting that positional critical mass is long , and their SL orders below IRL , where im wrong???

    ReplyDelete
    Replies
    1. Nifty opened within the last impulse up move of the previous day.This wave is likely to act as a range.
      So I kept my sell order below that swing low which is also the MSP. Price did not crack this MSP
      A trend reversal happens only when price crack MSP. When attempting a CT trade ensure MSP crack or enough space to the MSP

      ST

      Delete
  7. Looking previous day's closing range is also a good strategy. This minimizes the false trades. This will help us during range day's. Also noted, MSP not broken for the order flow to the downside. excellent analysis. thanks

    ReplyDelete
  8. Sir good evening at yday eod there was a nice fluid and on the next day it is hard to break that fluid,kindly update thnx

    ReplyDelete
    Replies
    1. Price was not able to break below MSP
      Once it breaks price will move well through fluid

      ST

      Delete
  9. ST sir

    "As expected a range bound day" is your first sentence today. How did you predicted sir? can you please explain.

    Thanks

    ReplyDelete
    Replies
    1. http://niftynirvana.blogspot.in/2012/02/daily-trading-patterns.html

      http://niftynirvana.blogspot.in/2013/05/trend-days.html

      ST

      Delete

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