Hi ST, What was your thought process while initiating a your first trade at 7890 with BRN ahead of 10 points. i was unable to initiate the trades on range extremes due to BRN in between.Thank you,Kiran.
Some times I dont have anything to say... but I do wait for your update.So I say, 'Thank you' for your update.
Dear STThe second trade - normally TP will be around BRN7900 as the second push came up more than the height of the first push- how did you manage to remain - what are the reasons- pls elucidate.Regards,Veer
I dont consider it as the second push. Move to 7920 was the corrective of earlier up moveIt was a BOF of PDH as well as All Time High. Critical mass was clearly longNormal target of a range extreme BOF is the other extreme. DP in the middle of a BW range is not very relevanthttp://niftynirvana.blogspot.in/2012/10/brackets-and-envelops.htmlIn such situations you have to take a decision depending on the situationI entered short at 7909.50 and normally allow a pull back from FTA. After the pull back I need to exit the trade at 7905.50 giving a profit of just 100 after commissions.The reason for the trade will be invalidated only above 7911.So with a SL @ 7911.50 my risk is 2 points + expenses . That is 225/-. So preferred to risk 225 and sit tight rather than exiting and looking for another opportunity with a risk of 500/- ST
ST,Why did you not wait for a pivot to form below PDH to go short? What gave you the confidence to short directly? Where was the initial stop?Thx,
Price was getting rejected from All time high. Trapping all the critical mass holding longThere is a possibility of PDH lending support Hence shorted below that. If price climbs above PDH I will exitI was risking just 4 pointsST
Hi ST,Regarding your second trade, Do we consider this as FTC and short below MSP and above PDH. My thought process was stops of longs would trigger and broke the pdh. was it valid? thanks in advance.RegardsC.Arun
It can be viewed as FTC and it was a BOF of All Time HighYou can short below that swing low I entered on break of PDH as there was a possibility of PDH lending supportST
Sir good evening,sir kindly update on your second trade that was the BOF i.e which level you considered for short thnx
Below PDH @ 7909.50ST
Sir good afternoon and thnx very much for teaching no buying in middle thnx
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