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

Friday, March 13, 2015

13032015

This is an illustrative example of the concepts being discussed.Markings are just visualizations on historical data in hindsight analysis
After gap up open Nifty was trending down all the day. Could not capture most of the move. Tried one long and a short. BPB of PDH worked well. TST of BRN also made some money. Break below RN 8750 did not trigger and I was looking for a BOF long at BRN 8700

14 comments:

  1. Hi ST sir,

    There was PDC where you took your first trade. Why didn't you wait for that to break? I missed it due to PDC below PDH.

    Rup

    ReplyDelete
    Replies
    1. Price unable to sustain above PDH changes the sentiment. PDC was 12 points away and if it bounces from PDC, we need to deal with it. Below PDC, there was BRN also . DPs are make or break levels. Give weightage to market bias always.

      ST

      Delete
  2. Was there a TST at 8750 level also when it break the earlier Day low

    ReplyDelete
    Replies
    1. Stay with the trend. When market trends go with the trend
      When price is in a lower range sell the highs. If you want to go CT , do it only on BOF

      ST

      Delete
  3. What was your SL for test trade. It went below PL at 11:42. At 11:57 it broke second time after 11:42 and went below PL 11:58. Hence my Query.

    ReplyDelete
    Replies
    1. It was a BOF. But my entry was blind TST at BRN with a SL of 10 points at 11.59.59 bar. Later raised to below pin bar. Price had fallen 150 points from the open. So I allowed a pull back raising my SL to 8699. Exited when the next push up also failed. Expected a move till 8750 as critical mass was short
      ST

      Delete
  4. You didn't consider TST of PDL ?

    ReplyDelete
    Replies
    1. PDL was around 8770..so around 1100 hr it was testing that zone...

      Delete
    2. I have drawn PDL in the chart and as per my chart there was no TST after 10.30

      ST

      Delete
  5. Hi ST,
    Was n't it a trend gap .
    Why didnt you short IRL ?

    rgds
    Kishore

    ReplyDelete
    Replies
    1. Bias was bullish, I was looking to long
      I would have shorted if a BOF happened at IRH

      ST

      Delete

Note: Only a member of this blog may post a comment.