Tuesday, May 6, 2014

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.

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