Friday, May 12, 2017

12/5/17,FRIDAY


1) Shorted PDL BPB. Got 21 points.

2) Shorted BRN BPB. Gave 8 points.

2 comments:

  1. Nice trades KS,
    In your first trade , wasn't you concerned about NS BRN 9400 below it.
    Second trade was same as yours, I was too confident of that trade but...

    Thanks

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    Replies
    1. Yes, that risk was there. I was closely observing whether, the mini flip around xx24 holds. Fortunately, that flip was not broken. If that flip was broken, I would have scratched.

      I think, the second trade is not a good one, in hindsight. If BRN holds, when it is hit for the first time of the day, mostly price may not fall much below BRN during the rest of the day. May be, BRN may get breached by around 10 points w.r. to the previous attempt, every time it takes a fresh hit. Mostly it will be channel or complex pullback.

      Most of the good BPB trades from BRN seem to originate, when BRN gets strongly broken on the very first attempt with weak Pullback. Maybe in a few cases, this logic may not be working. Would like to know your views on this.

      Thanks for the comment.

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