Tuesday, September 30, 2014

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.

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