30/07/2014

Mild Gap up, Initial move was down.

1) Narrow IR with a BW pattern around PDC 

2) Didn’t short BPB IRL, as

   a) rejection was very good,

   b) Momentum on the BO side was very less

   c) PDL was located at less than  9 points space.

3) 2 LEGGED BOF of PDL was a very good signal.  Exited at PDC for 15 points.  Expected a bounce from PDC/IRL/RN.  But it moved well, thanks to the strength of mighty 2 legged PDL BOF. Could have got 50 points easily.

No more trades

28/07/2014

1) Mild gap up, but initial movement was down. Attempt to break IRH failed. So the bias was bearish. Hesitated and missed BPB of IRL, as 2 candles with big lower tails made me think that strong buying orders were resting there. But price never managed to get inside IRL/PDC. Should have given more importance to this fact and taken the trade. Missed 22 points.

2)BPB of PDL/RN - Didn't take this as I wanted to see the candles close beyond RN. Should have trusted PDL BO and taken this trade. Missed another 20 points.

3) Went Long @ BOF of LOD. Exited at RN, as I expected PDL/RN confluence to act as a strong flip. Got 8 points.

4) Didn't get any other good signal.

25/07/2014

1) No significant gap. Narrow IR was formed. Initial movement was down. Didn’t take BPB  of IRL  as 2 tails were there. 

2) Went Long on BOF of  PDL. Lost focus and entered above inside bar high, which is allowed only in case of BPB. Stopped out. Lost 8 points.

3) Went Long at the same location above clear swing high.  Expected the price to test BRN.  Didn’t. Got 11 points. Should have made a better exit and got 6 more points.

4)It looked like PP set up at PDL and kept a direct BO order. But price didn’t make an attempt to breach PDL and hence this order did not trigger.

24/07/2014

1) Small Gap down. Initial movement was also down. Sorted below IRL and lost  7 points. IRL marking was wrong. Without checking LH/HL,  marked IRL on seeing the opposite colour candle.
Could have easily avoided this trade, if I had deciphered two tails. Further price did not close beyond the wrongly marked  IRL too.

2) BRN BOF: Shorted below IRL. Had to scratch with 2 points. Could have exited with some more profit , if exit was made on seeing 2 tails.

23/07/2014

1) Gap up above PDH. Day trend was also up, but initial movement was down. Bit confused. Accumulation below BRN lured me into taking a direct BO, against the initial movement. Was terribly wrong. Further my SL was not triggered and had to square off at 13 points loss.

2) Didn't take any other trade as there was no clear signal.

21/07/2014

1)Out side Gap up above PDH and BRN. But  the price could not go up any further.

2) Having failed to move up, price fell below BRN and PDH. Due to lack of momentum, didn’t take any trade here.

3) Went Long @ BOF of RL, before PDH was breached, assuming that it is a BW. PDH  started resisting and had to exit with just 3 points, when second attempt to move the price up failed. But price hit the target after chopping around. Should have trailed better and got 12 more points. 

18/07/2014

1)Gap down and opened below PDL. Shorted BPB of PDL and exited at BRN. 15 points.

2) Shorted BOF PDH. Didn’t wait till PDC gets broken. Expected a bounce from RN and hence exited there.  10 points.

3) Looked like a good PP set up at HOD. But there was good opposing order flow in the opposing direction just before the entry point, resulting in lack of momentum, if the 3 equal candles above PDH are an indication. Hence cancelled the order. Another reason was Friday. Not many buyers may be active after 2.40 PM. Was not a bad decision.

17/07/2014

1)Opened with mild gap down. Failing to break IRH and IRL, started ranging in the middle.

2) Failing to break and settle above RN, fell down towards IRL. Shorted  BPB of IRL and got stopped out. -6 points. Problem with the IR marking, as pointed out by UR Dave.Further aprice was within the range of closing session of the previous day and hence should have marked them as IR.

3) After a long consolidation below RN, price suddenly breached PDH strongly. Absence of buying above PDH resulted in quick retracement. Didn’t take this BOF, as choppiness around PDH indicated lack of momentum.

That's all for the day