31/10/2014

Opened with WT outside gap up.

1) Missed the Long above IRH, due to hesitation in taking the trade after WT outside gap up.

2) Did the mistake of the day, when shorted BOF BRN in haste. After 70+ up move, price will pause and consolidate, if at all it reverses.  Could not recognise this on time and got stopped out. -9 points.

3) Shorted BOF of RH. Got 7 points.

4) Again shorted BOF of RH hoping that critical mass will exit at week end. Stopped out.-7 points

MONTHILY REVIEW OF OCTOBER SERIES

Total No. of   Trades  -  12

Wins                          -   4                Wins %     -     33.3                    Wins points   -                       54.5

Tuition fee                  -    8               Tuition fee%   -    66.7               Tuition fee  points    -              64.5


                                                                                                                     Net                           10 PTS

30/10/2014,THURSDAY

MT4 charts switched to November series. So, had to use Bazar Trend chart.

1) BRN BPB was the first and the best signal of the day. Was not confident about entering at BRN on expiry day.Decided to sit on the sidelines and observe.

2) No other clear signals.

No trades for the day.

29/10/2014, WEDNESDAY

Outside Gap up opening.

1) First few minutes witnessed consolidation just above IRL. Placed a Direct BO Short order below IRL. But soon cancelled after the selling was bought into.

2) Did not take IRH BOF(or DO BOF), as there was no space.

So no trades for today as well. With expiry around, can't understand what's going on. Tomorrow, there may be some strong moves? 

28/10/2014,TUESDAY

Opened above the high of the last impulse of  yesterday.

1) Did not go Long above IRH, as it (IRH)  may not be clear to many traders.

2) Delayed taking IRL BOF Long, as I wanted a swing high for entry at/beyond the flip zone. Momentum was missing and hence skipped this trade even after getting the swing high beyond the flip zone.

No other  clear signals and hence no trades for today.

Was a choppy day.

27/10/2014, MONDAY

Opened with Gap up above PDH and found stiff resistance @ RN,8050.  IR was formed  above PDH..

1) Did not go for BOF or BPB of  IRL/PDH confluence, as momentum was very low. Further space was also less.

2) Did not take BOF BRN Long, as it came towards the end of the session. Further the penetration was hardly 2 points.

So no trades for the day.

22/10/2014

Out side Gap up. Was a BW around BRN throughout the day.

1) Shorted BOF of RH. Stopped out. -6.5 points. Took the trade too early. Was trying without any colour for up candle and down candles and this led to entry at a non existent swing low.

No more trades

21/10/2014

Inside  Gap up at the upper extreme of the closing range of  yesterday. Can be taken as BPB BRN.Low of first candle was not tested and it looked like a big up move on the way. But premium has reduced. Decided to enter Long after the formation of a clear swing high after BRN Spot was breached.When I got it, space was less with PDH. Missed the up move. Should have ignored BRN Spot and jumped in as  the up move has just started. It was a risk worth taking. Lesson learnt.

1) Did not take PDH BPB as zone around 7950 has been a strong Resistance.

2) Went for FTC short as the up move was showing signs of exhaustion. Got 27 points.

3) Went Long @ BOF of BRN.Did a silly mistake and made a premature exit. Got only 5.5 points.Realised my mistake and was trying to correct it, but my TSL was hit. A silly mistake and a fraction of a second delay resulted in not getting 28 points more.

4) Avoided FTC short above PDH, as the space was not there.

5) Avoided BOF of PDH, as it was against the exit direction of critical mass at the end of the day.

Placed the photos of kitten in my Blog. Seems to be a good omen!

20/10/14

Outside Gap up of 100+ pts.

1) After prolonged consolidation, price failed to break IRH/BRN Spot. Thought of shorting at the 3rd ( M shape) bottom. Hesitated and missed. That turned out to be the best signal of the day.

2) Did not short BPB of BRN, as addition in 7900 PE was too good to be ignored.

3) Looked like BW at BRN. Still the chances of an explosive up move, if  the trapped traders exited, made me take the risk and go Long. Stopped out. -9 points.

No more trades for the day.

17/10/2014

Inside Gap up opening.

1) Wanted to go Long at strong PDL/PDC BOF. Expected IRL to act as FZ after 20+ points move below. Hence wanted the price to settle inside IR to let me enter. Missed this good signal.

2) Took BPB BRN and got stopped out. -6.5 points.

3) Thought that the BOF will be pretty strong and took that too. Again stopped out.  -6.5 points.

It is a problem reading the price action on Fridays and other days before holidays. Needs to work on this.

16/10/2014

Opened with  INSIDE Gap down and soon shot up.

1)Shorted PDC/BRN BOF. Got 8.5 points.  First candle was OPEN LOW candle and hence was not sure where Range Low will be formed. Closely trailed and exited when price stalled near RN Spot. 

2) Price consolidated in a NR for a long time. There was a BOF @ RH followed by one at RL. Went Long above RH. Stopped out. -6 points. 

3) There was a strong BOF at PDL. Did not take it, as there were 2 strong FZs above. Was right.

4) TRAP above PDL resulted in PDL getting broken. Felt that PDL will hold. Further BRN Spot was close. Hence did not take this short. But this moved well. Shorts went off well today.

14/10/2014

Opened with Gap up above PDH and soon got sold out resulting in a vertical fall.

1) After the fall, price pulled back beyond BRN and it looked like BOF. Didn't take it as there was a strong chance of consolidation. But this move went off well forming a new LOD far beyond the earlier one.

2) PDC/BRN resisted the retracement. Shorted the second BOF   at BRN, though its extreme was inside as opposed to previous BOF. Looked like HNS and there must have been lot of orders  at the previous swing low. Did not move well. Got 1 point. It turned out to be BW.

3) BOF of PDH was pretty strong. Could not find the right place for entry.

No other trades

13/10/2014

New week opened with a WT outside Gap down.

1) Marking of IRH was wrong. Shorted BOF of IRH. Stopped out. -5.5 points.

2)Price moved above IRH. As it was a strong flip zone in Hour time frame, did not go Long here. But price moved up well. Completely misread the price action. As Daveji mentioned price has hit Day time frame flip zone and reversed.

3) Did not go Long at BPB BRN, as I wanted to see candle bodies on the BO side. When strong BO happened, it came too close to BRN SPOT, preventing Long.

4)Third attempt to break HOD/BRN Spot  failed and it looked like BOF.  Thought that there will be exit of critical mass here and shorted. Not to be. Got   5.5 points.    

  

10/10/2014

Opened with outside gap down and fell by another 55 points.

1) Due to the gap, candle size has become smaller, as the range of the chart has become too big. Could not recognise the steep fall, due to small size of the candles and the need to let the price consolidate. Went for BOF BRN Long and scratched. Gave -4 points.

2) Did not take RH/PDL BOF as price was moving in a channel. Hesitated and missed the BOF short after price came out of the channel.

3) Expected  BOF of BRN, as I thought that price was getting well supported. Was wrong.

No other trades.



1

09/10/14

CT outside Gap up. Could not capture the initial up move.

1)Could not short BPB of NR, as RN was too close.

2)Expected RL of  NR to act as flip zone and push the price down towards LOD. But price was consolidating just below FZ. Looked like TST pattern failure or TRAP. Went Long above the swing high.  Got  27  points. 

3)Shorted BOF of BRN. Gave -6.5 points.

4) Thought that it was another pattern failure (BOF) or TRAP. It also looked like complex BO pull back in making.  Placed a buy order above HOD. But BRN resisted, rising doubts of a BW. So cancelled the order.

08/10/14

Opened with Gap down below PDL and soon shot up and tested BRN.

1) Shorted hesitatingly BOF of BRN before the Range extreme was tested. Within a minute after the order got filled, SL was also hit.-11 points.

2) Took BOF of LOD long. Went well. Got 29 points.

Was a range bound day.

 

07/10/2014

Resuming after a long holiday, Nifty opened with outside Gap down, 55 points below PDC. As expected, price was consolidating for some time. NS BRN was supporting the price for a long time.

1) Took IRL BOF Long. Had to scratch. -1 point.

2) Shorted BPB BRN. Made a quick exit, as I thought that the momentum is not good enough to push the price down further.  -1.5 points.