28/05/2014,WEDNESDAY

1) Mild inside Gap up. Would have taken BPB of IRH, if I was sitting in front of the terminal. Was out and didn't take it. Anyway, it had to be scratched after the second attempt to push up failed.

2) BOF of IRL/PDC was a good signal. Couldn't enter here, as no swing high was available for entry.

3) BOF of RH was another good signal. But no signal could take the price in any direction.

So, no trades for the day.

27/05/2014, TUESDAY

1)  Heavy selling in the first few minutes. BOF of BRN/PDL was a good signal. Lost 4.5 points due to hasty exit. No other strong signals for the day.

26/05/2014,TUESDAY

Started using MT4. Was fully engaged in  learning about it. Didn't take any trades today.

1) The occasion of the new PM being sworn in was welcomed with a Gap up.BPB of  IRH was a good opportunity. Could have easily got 40+ points.

2) BOF of BRN shorould have been taken after the second attempt to push the price up failed. It was a 150+ trade.

22/05/2014,THURSDAY

1) Gapped up at BRN, but couldn't break it initially.Going Long above IRH was not possible, as PDH and BRN were closely located above.

2) Went Long on BPB of PDH. Lost 8 points. Should have scratched it, like ST did and minimised the loss.

3) Then choppy price action was witnessed for hours together. BPB of PDH could have been shorted, but was in 2 minds, as the MSP(11.21 candle) was closely located.Didn't take that trade. ST clarified that Swing pivots can't be DPs and FTAs.

21/05/2014,WEDNESDAY

1) BRN was IRH. Looked like a big BO of IRH/BRN. Reminded me of the excellent fluidity here. Still wanted a clear swing high so that entry can be made at PB. After a big candle price reversed.

2) Didn't take BOF of PDC, as BRN was very closely located.

3) After choppy price action for more than 2 hours, price broke below PDC and PDL. Shorted BPB of PDL and got 10 points. Could have entered bit earlier below the low of  BO engulfing candles.

Started panicking while trailing and made  a premature exit. As RN supported,  the price reversed. Should improve on this.

4) Price reversed without giving any swing high for entry. Could get a swing high just below CHOP ZONE, which was rightly not taken. 

20/05/2014, TUESDAY

1) Gapped up, pulled back and soon IRH was broken. Price had an easy ride till being resisted just in froNt of RN. First candle had a long upper tail. ST clarified in his blog that candles 5,6,7 and 8 indicated that orders are resting near DO only. Except ST, most of others may not have taken this trade.

2) There was a good opportunity to short below PDH and there was a nice swing low too. Had gone out to take Breakfast and hence missed this trade.

3) Price was twice resisted at BRN and it looked like BOF. Yesterday's lessons warned me of the trading into the chop and rightly didn't take them.

4) BPB of BRN was a good signal with a clean swing high. Skipped it as it was already 2.35 PM.  Today is the day of fluidity. A good example of how price moves easily in fluid conditions like knife in butter.

So no trades for the day.

19/05/14,MONDAY

1) Gapped up and soon fell down. Went Long on LOL BOF of PDL/PDC. Exited in a hurry on seeing a huge pin bar with just 6.5 points.

2) Shorted BOF of BRN twice and got stopped out on both occasions.24 points lost.Was not aware that shorting into the chop. Up move from PDL to BRN was quite choppy and price moved in a channel, as it
neared BRN. An important lesson learnt.

BOF of BRN seems tricky. Better to avoid it for some time.

A bad day.

16/05/2014, FRIDAY

1) 3 min. candles looked like hour candles. Most of the candles had a range of around 30 points. Keeping SL below 10 points was not at all possible. Hence didn't trade today.

Election results were announced.So all the euphoria will die down when Market resumes on Monday.

15/05/2014, THURSDAY

Was out of station. Didn't trade

14/05/2014,WEDNESDAY

1) Opened above PDC and got sold off, till BOF of PDC. This was the only signal of the day. Was outside and didn't take this trade.

2) What followed was choppy price action.

No trades for the day.

13/5/2014, TUESDAY

1) Gapped up and got sold out, till BRN lent support. Resultant BOF was a good signal. Had gone out at that time.

2) BOF of BRN was a good signal. But yesterday's experience made me to skip the trade. Only Buys at dips at BOF seemed to be the right trade. But this down move went well.

3) There was no other strong signal. No trades for the day. Better not to trade throughout this week. 

12/5/2014, MONDAY

1) Mild Gap up with DO becoming Day Low. In the first few minutes, Nifty moved up briskly till getting resisted by BRN 6700.

2) Second attempt to break BRN failed resulting in BOF. Took this short, but was stopped out.Lost 12 points. Thereafter Nifty was moving in a channel. Hence didn't take any trade.

Should have refrained from trading as advised by ST. Day traders were not in control of the market obviouslt and this will be the case through out this week, till election results are announced on 16th.

9/5/2014, FRIDAY

1) Tried to break out PDC in the downward direction. Resultant BOF was just the begining of what turned out to be a Himalayan move. Was not aware that BO of a narrow range of previous day closing session is on.(until ST mentioned in his blog today) Could have entered only at BPB of PDH. By then market has already shot up by around 50 points. Missed out a rare opportunity. It was a 220+ day.

2) Looked for BOF or TRAP with trend. Only by 2.45 PM, such a signal arrived. Hence didn't take it. Before that shorted on BOF of  RH  below MSP. Got 14 points.

It is quite weird  that can't take any Long on 220+ up move day. As the winning consistency further improves, definitely all BPB trades can be taken without any inhibition.

8/5/2014, THURSDAY

1) Mild gap up and strongly resisted at BRN. Shorted at the breach of B/O candle low. PDL/PDC confluence supported. Got 5.5 points.

2) Surprised to see the price moving above BRN post FTC at PDL/PDC. Another strong BOF at BRN. Entered below the BO candle low and got 13.5 points.

3)BOF of PDL/PDC - Didn't take this, as it is CT. Conditions, required for CT trades were not there. Difference between LTP and VWAP at this point was almost zero. As there was no swing pivot on the way  after BRN, the critical mass was not significant enough, it seems.


Thereafter, price was moving in a very narrow range, neither moving up nor down. 

7/5/14, WEDNESDAY

1) Opened below PDC. 2nd candle indicated the failed attempt for BO of  PDC. 3 more attempts to break IRH failed. IRL was broken. Kept a BPB order here. Cancelled it as the momentum was not there.

2) Accumulated orders broke RH. Due to lack of subsequent buying, price fell back inside the Range, resulting in  BOF. The location is a semi DP. Space after a clear swing low(for entry), the pre-requisite for  an entry here, was not there, skipped this signal.

3) By now, it was evident that price is moving in a channel. Hence, the BOF of RL could not take price up. 

4) Price broke out of channel and BRN. BPB of BRN was a good signal. But the time is already 3.00 PM. So can't take this signal too.

NO TRADES FOR THE DAY.

6/5/2014, TUESDAY

1) Gapped up and opened above RN. First 2 candles showed huge rejection at the top and they formed the IRH. BOF of IRH at 6th candle. Was not aware of this. Only after seeing ST's blog, could spot it.

2) Strong BOF of RL. Took this CT trade and exited with 2.5 points loss. Was not aware that, should not take CT trades when there is choppiness and too much of congestion, as price moves through a fluid smoothly where as price will struggle to cross such congestion. If at all you want to take CT trades, wait till price crosses the congestion zone and then enter. Got this precious knowledge from ST's answer to a Nifty Nirvana blog mate.

3) BOF of PDC was a good signal. Placed an entry order. But cancelled it as the time was 2.40 PM. Till 

I win consistently and boost up the available margin, can't take these orders.

05/05/2014,MONDAY

1) Opened below PDL/PDC.  Resultant BOF was a very good signal. Price climbed up without giving any swing pivot for entry. Bit difficult to trade this signal.

2) Kept a Long order for the next BOF of PDL. Got confused and cancelled the order just before it got filled.

3) When price encountered IRH, kept a buy order before the completion of formation of swing pivot. Had to scratch this trade for a loss of  4  points. Focus must improve.

4) Took the BOF of PDH trade. Exited in a hurry. As the price encountered RH, moved the SL to BO candle high and got stopped out for a loss of 1 point. Learnt an important lesson - Never trail at the BO candle low/high, when price encounters RH/RL. Follow this procedure only when the price encounters these important DPs, namely PDH, PDL, and BRN.

Another mistake was - forgot to keep a fresh entry order below B/O candle low.  

Tomorrow is another day.  

02/05/2014

1) First candle spiked up and the second made DH. Price fell down thereafter slowly, until halted by BOF of PDC. As it is DL at that time, waited till a clear swing high is formed. Placed a buy order above this, but soon, price went below IRL. So, cancelled the order. By now, it was clear a BW is being spun aroundthe confluence of IRL/ RN.

2) Subsequent BOF of  PDC was a good signal.Again entered a Long order above the clear swing high. It was not filled.

3) PDC got broken. Entered BPB Short order below the RL. There was good fluidity upto PDL.  Waited for 3 candles. The order was not filled.Was thinking that critical mass which may be short can exit at any time, at weekend triggering a rise.   So cancelled the order in the absence of strong momentum. Got it right on this occasion. Price made a slightly lower low and retraced quickly.

Was a choppy day throughout. No trades for the day.