Wednesday, April 22, 2015

22/04/2015, WEDNESDAY




1) Didn’t short BRN BPB, as I expected Range bound movement in the first few hours.

2) Looked like PP set up at PDC/BRN Spot confluence. Longed and stopped out. Gave 6 points.  Expected the price  to test the HOD. But the high of last impulse of yesterday resisted. 

It was a low probability trade, being a   CT PP set up trade without critical mass.

3) Skipped BRN BPB Short, as two strong levels, PDL and LOD were closely located and chances of them getting broken during lunch time are less.

4) Delayed taking PDL BPB Short, as I wanted the price to consolidate to ensure sufficient order accumulation. Price didn’t wait for me. So missed a very good signal.

Market became too volatile and hence stayed away.

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.

2 comments:

  1. Good identification of patterns in trade 2 3 4.

    But I had opposite view on trade 2. I was thinking to go short at 8425 BOF of DO PDL NS BRN at 11:23 am.

    but for your 4th trade you no need to wait because lot of space..

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  2. Thanks a lot for your perspective. It helps a lot in my improvement.

    S.Karthikeyan

    ReplyDelete