Hi ST, a> Was there a BO Trade between 9:45-10:30. When the Bar went above 8600 ? Reason for not taking BRN is quite strong level, will require lot of order flow to break. So avoid taking BO near BRN is my understanding correct ? b> What was the reason for not taking BO trade where you took BOF trade.
No I had a buy order above BRN. I waited for more than half an hour for it to trigger because there was no momentum.So cancelled the order and looked for a BPB or a BOF at the lower side of the range.ST
Hello ST sir,I thought someone would ask, let me ask, why did you avoid BO of RH? I thought it took too much time consolidating in the narrow range and my understanding is that if it the range prolongs too much, most likely prices will reverse. So I was looking for BOF of RH and took the trade once it happened. Your thoughts please.Thanks.URD
Usually I prefer two types of BO trades.1.BO of IR with momentum to board a trend move earlier2.PP where a lot of traders get trapped. I skipped morning BO of BRN as there was no momentum. Avoided BO of range high as I felt very few shorts created in market since morning. Price never broke the fist swing low for day traders to enter short. Critical mass was not shortST
Hi Dave, Similar PA as today. But different result. http://niftynirvana.blogspot.in/2014/01/13012014.html
Market was extremely bullish then. Look at the previous day chartPrice climbed above the last range 6225-40 and failed to stay there. A sell off happened. Next day morning itself price climbed back to this higher area and even a BOF at PDH could not bring price below 6240.Market will give many subtle clues but we fail to read this most of the timehttp://niftynirvana.blogspot.in/2014/01/10012014.htmlST
I took CT BOF short around 1020, considering that it failed above 8600 and it was a supply zone you didnt consider this possibility ?
Hi ST, "Price never broke the first swing low" http://i.imgur.com/SB6TPKo.png is my understanding correct.
Thanks ST... Lot to learn.. I should work with historical charts many times
NaveenYour entry was right and it went where it was supposed to go.Being a discretionary method we will not be able to take all entries. We hesitate second guess and fail to act. Further we will fail to notice many clues. Perfection is impossible in this gaveST
XrtYour understanding is correct.Some people get trapped there. But not enough to trigger a momentum move in the opposite directionFurther people are trading different methods. for example those who entered on BO of BRN may not exit below the BO bar. They keep SL below 8580 only. They will continue to holdST
Thanks so much ST.
Hi ST,Good Morning, please can you explain why you thought the 10:20 short by Naveen will not break the lower DP. It was a BOF of BRN, would it not move beyond the lower DP? Thanks for your help.
Logical target is the range low. Further move is just a bonusPrice is in rally mode and counter trend moves will fizzle out sooner than we expectST
thanks a lot ST.
One more question ST on Critical Mass: it is very difficult to consider Critical mass in morning session. How to deal with it? especially during first hour ?
http://niftynirvana.blogspot.in/2014/11/more-on-critical-mass_22.htmlIn todays session critical mass was neither short or long. that is why the BOF of Range high and low did not move beyond the other extremeST
Thanks a lot ST.
Hi ST,Was it correct to short just above the BRN? Thanks.
Here it can be done as the range high is above BRN. But better to avoid trades into DPs unless there is sufficient spaceST
Hi ST,please can you let me know if these three trades are correct or wrong(One short and two longs)
Hi ST, please post today's chart. Thanks a lot
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