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Tuesday, April 21, 2015

21/04/2015,TUESDAY



1) Wanted to short @ 8507, the extreme of the last impulse of yesterday. But price didn’t come above BRN. Missed the down move.  

2) Shorted at XX50, confluence of PDL and RN. Gave 6 points.

3) Shorted after price failed to sustain above PDL after 3 attempts. Got 6 points.
4) Shorted BPB PDL. Got 4  point.

Disclaimer: I am not a Research Analyst, registered with SEBI. I maintain this blog only for my own learning purpose and recording my thoughts on intraday activity of Market. I do not give any kind of trading advice to anyone. My methods will result in severe losses. Hence please do not follow me.
 
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4 comments:

  1. UnknownApril 21, 2015 at 11:48 PM

    Hi Karthi,

    Sorry i was not able to visit your blog for couple of days.

    comments :

    your second trade: Going short at 10.44 am candle is not good idea. because the 10.26 master candle is immediately filled with up move.. so you should wait for any buy signal instead short.. or if you feel market is going to go down..then wait till down move break of the master candle.

    did not find below signal?

    what about going long at PDL at 12 :20 pm after beautiful pin bar. because break of PDL failed 2 times in the morning session.

    Another long signal at 13 :50 ..immediate reversal at PDL master candle..

    Can you please share your thought process here.

    Thanks,
    Aristatle.S

    ReplyDelete
    Replies
    1. nifty for breadApril 22, 2015 at 8:00 AM

      Hi Aristatle,

      Yes, my second trade was a stupid trade, more so on the day after a big fall day in the morning session, when we are supposed to expect Range bound action.

      PDL Long at 12.20 was a good signal, but I could not take it as I was trailing my short. Not possible for me to take a Long immediately after exiting the short.

      Regarding the Long signal at 1.50--- I was not interested in this signal. After 1.45 Noon, generally, price makes a serious attempt to move in the direction of trend of Day time frame. As Day time frame is making lower high, lower low for the last several days, I was looking for an opportunity to short. So, I skipped that signal. I would like to know your view on this.

      Thanks for your comments with deep insight.

      S.Karthikeyan

      Delete
  2. UnknownApril 23, 2015 at 12:12 AM

    regarding "After 1.45 Noon, generally, price makes a serious attempt to move in the direction of trend of Day time frame."

    It is true if you are trading on reversal day or trend start days but not at almost the trend end or previous swing low days. check what happened today 22 Apr.. Again we should know we were trading. but keeping always the overall picture might lead us to miss some trades. but it is good to know where we are trading.

    ReplyDelete
  3. nifty for breadApril 23, 2015 at 9:22 AM

    Thanks a lot for your comment. It helps me in looking at it from another angle.

    S.Karthikeyan

    ReplyDelete

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