30/9/2014

RBI announcement day. So no question of trading till Market settles down after the announcement is over.

1)After  the announcement,  price moved from PDL and hit PDH. Looked like a very good BOF,  Was waiting for the price to settle below PDC to initiate short. But price moved up briskly, as if it is a Pattern failure. Did not go long above PDH at the breach of earlier swing high as  BRN Spot and RN were closely located. Turned out to be a good move.

2)FTC noticed at HOD and price fell vertically. Again could not find the right place for entry. Price easily broke PDL in no time.

3)Took the  BOF of PDL long towards the end of the day. BRN resisted and had to scratch.  Got 4.5 points.

29/9/2014

 Opened with inside  gap down and BRN BOF. 

1) Could not take BRN BOF Long, as price moved up without pausing, denying entry with  sufficient space with the range extreme of the previous day (last impulse) and PDC.

2)This up move resulted in PDC BOF. As the up move  originated from a strong BRN BOF, wanted PDC to be strongly tested once more before shorting. But this move also quickly moved and hit the target, BRN   

3)After a prolonged consolidation, price spiked up causing another PDC BOF with low penetration. Did not take this BOF too, as I expected the consolidation high to act as flip zone. Not to be. Price almost touched BRN swiftly, probably due to the exit of longs trapped above the consolidation high.

4)There was yet another BOF at PDC. As the price consolidated for a long time before hitting DP, expected a the PDC to be tested once more. But price moved well breaching the then LOD.

So no trades for the day

25/9/14

1) Did not take BPB of  BRN. Was a mistake 

2) Went Long on BOF of PDL, 16 points away from the DP. Stopped out.-9 points.


No more trades.

22/9/2014

New week opened with 50 points outside  gap down , followed by consolidation. 

1) Did not take IRH BPB, as it was CT.       

2)Shorted  BOF of Range High. TSL  was hit.  -4.5 points. In the hindsight, it is a Ciggaratte. BOF taken in a 10 point range with just 5 point space between entry and FTA. Must have been avoided.

3)Explosion after consolidation was on the higher side. Could not change the bias, till price settled inside PDL.  Could not find proper entry point for Long, as PDC , RN and PDH were closely located. Missed  the up move.

4)When price encountered PDH, it looked like price getting easily accepted above the DP. Thought of  taking BPB Long here.  Did not do so, as I could remember on time that this level has been acting  as a very strong resistance for quite some time.  

It looked like a very good BOF . As the order was not filled till 3.00 PM, cancelled it.

19/9/2014

 BOF @ PDH in the first few minutes. Paused after breaching PDC. 

1) Did not take PDH BPB Long above RN, as the Zone above has acted as a strong Resistance in the recent past.

2) Minor BOF at LOD with strong rejection.Didn't take it as penetration was low.

3)Looked like absorption at PDH. Shorted after 3 attempts to move the price up failed. Scratched. -1.5 points.

18/09/14

Gap down followed by a strong rejection at PDL.

1) Waited for a clear swing low before attempting anti gap trade and missed the most important move of the day. Only those who could jump in on seeing the strong rejection followed by  inside bars could have taken this trade.

2) There was a TRAP just in front of the second BRN. Did not take it as the space with BRN was less. Did not take the BPB of BRN too, as already Nifty hs travelled 140 points.

So no trades for the day. 

17/9/14

Big inside  gap up , followed by a downward initial movement. 

1) Did not take IRL BPB, though it is in line with day trend, as opposite directions of gap and initial movement indicated either the absence of clear imbalance between the sellers and buyers or that price may move in the direction of gap after a PB. Further 8000 PE OI was still higher than 8000 CE, implying that no big fall is going to happen immediately.       

2) Did not short BOF of BRN, as I thought that the momentum was low. Further, whenever initial movement has been retraced beyond Day Open,  a complex PB in the direction opposite to initial movement can be expected.

Did another mistake. DO remained the high of the day and no established IRH had been formed. Should have  discarded it after the price breached it. In that case could have taken BRN BOF quite early and escaped unhurt or got some minimum profit, even if price returns without touching the other extreme.

So, no trades for the day.

16/9/2014

IR was formed around PDL/RN.

1) Price moved in a narrow range for a long time.  When the Range Low was breached, price retraced and  settled  inside the Range for considerable time. Thought that it was a BOF. It turned out to be the one and only golden signal of the day. Missed the down move.

Should have shorted below the swing low, as after a long consolidation, when one end is breached, price will move quickly in any one direction without fooling around.

Could not find any other signals. So no trades for the day. 

15/9/2014

Big outside  gap down , followed by a steep fall giving no chance to enter .

1) Price consolidated for a long time. Shorted Range BOF, Gave 1 point.  

                            

2) Again shorted at the BOF of Range high.  Was trailing closely, as the time was near 3.00 PM. Gave 2 points.  Moved well after my exit.