28/08/2014, THURSDAY

Expiry day.

Could not spot any clear signals. So no trades for the third consecutive day.

27/08/2014,WEDNESDAY

Opened with outside Gap up, Initial movement up.

Price moved within a very narrow range for a major part of the day before falling without any clear signal. Could not spot any opportunity.

So, again, no trades for the day.

26/08/2014,TUESDAY

Opened with outside Gap down and soon gap got filled. Too many DPs inside a narrow range, rendering it impossible to take any trades in the morning.

1) Price started falling very slowly. Ascending triangle like consolidation noticed below BRN. Waited for the price to make another attempt at BRN before shorting below CL. But  the fall has started a little erlier. Missed 15 points.

2) Didn’t  take BPB IRL, as the Price has already moved by 35 points from HOD. Further  PB went on for a little too long, indicating that buyers are not weak. 

So no trades for the day.

25/08/14,MONDAY

No Gap, Initial movement up.

1) Shorted HOD. Did not move well. Lost 3 points.

2) Again shorted at the same location on seeing the BOF with better penetration. Got 14 points. Bounce at RN made me exit.  With better trailing, should have got at least 35 points more.

22/08/2014,FRIDAY

Small Gap up, Initial movement was also up.

1)Did not take the minor BOF of IRL, as the penetration was weak. But it moved well.

2) What followed was BOF of IRH. As the momentum was not there, cancelled the order.

3) Expected BOF of PDH towards the end of the session. With critical mass being short, it would have triggered a good fall on Friday. But that did not happen.

So no trades again.

20/8/14

Resumed trading after a brief gap.

Too many DPs inside a narrow range. Choppy price movement throughout the day.

Could not spot any clear signal. Hence no trades for the day.

BRAKE

Will not be trading for the next 2 days, due to travel.

13/08/2014

Gap   -  Inside down . Initial Movement – down

1)Narrow  IR  was formed.  Above IRH, 3 DPs namely, RN,PDC and PDH were closely located. Avoided long above PDH, as it was a very strong Resistance.

2) Missed first BOF  of  PDH, as entry could be made only after RN.

3) Took the second BOF of PDH short below consolidation low. As with most of consolidation BOF, no swing low was available for entry. Anticipated this and placed the order without waiting for swing low. Got  21 points.

4) Took FTC Short trade at IRL, the flip zone. Got  6 points.   

No more trades for the day.

12/08/2014

Again outside Gap up, Initial movement was down.

1) Descending triangle at IRL. Hence avoided short @ IRL.

2) IRL BOF was a good signal. But no swing high was available for entry. Should work on this.

3) Took IRL BOF short and stopped out. Lost 10 points.It turned out to be PP.

4) Missed the lat upmove.

11/08/2014

Gap   -  CT outside up . Initial Movement – down  Similar situation was seen on 23/07/2014.

1)Narrow  IR  was formed.  Was not sure what must be the bias as  Gap and initial movement were in the opposite direction. So decided to take strong BOF trades only, initially, as BO and BPB are not wise options in such a scenario.(went for a direct BO long and got stopped out on 23/07/2014)

Hence skipped BPB of IRL, though price didn’t retrace back into the Range after BO. Another reason was the presence of  BRN, just  7 points away, (from the entry swing low) followed by PDH,BRN and PDC.

2) There was a BOF at LOD only after 3.00 PM, the best signal of the day. Could not take it due to want of margins.

So, no trades for the day.

7/8/2014

Gap down, strong support at PDL.

1) Took 2 legged BOF of PDL Long , though it was against the bias. Choppy movement stopped me out and then reached where it had to. Lost 9 points. 

2) Took 2 legged LOL BOF Short. - Was trailing at the top of BO candle. Again it moved well after stopping me out. Could get only 7 points.

3) Took FTC @ HOD. Made a premature exit with just 7 points, as it was almost 3.00 PM. Wanted to close the position before broker closes it. Again this too went on nicely for 70+ points.

06/08/2014

Too many mistakes for one day.

Gap down, Initial move down. 
1) Bias was extremely bearish. Hurry to short landed me in a mess.  4 mistakes in the first order.
    a)  Placed the BO order just 2 pts away.
    b) Did not wait for even one consolidation candle.
    c) Not even a single LH.
    d) Did not keep initial SL. Was so confident about down move and decided to wait for a PB, which never happened. Exited with 23 points Loss.

2) Took BOF of RH and scratched with 3.5 points loss. 

3) Took another BOF of RH and exited with 7 points. Could have waited and got 20 more points.

4) Took BPB of the then LOD. Was not aware of BRN Spot. Stopped out and lost 7 points.

5) Took BOF Long of the then LOD. Stopped out and  lost 10 points. Took the BRN Spot line as DP line and perceived a non existent BOF.

WHEN THE GOING GETS TOUGH, THE TOUGH ONLY GETS GOING. YOU ARE TOUGH AND YOU CAN TURN AROUND.

05/08/2014

RBI announcement day. Waited till the announcement was over.

1) Steep fall below PDH/PDC  confluence.  Could not capture this move in the absence of clear signal.

2) Took CT PP Long trade. Expected it to move well, due to fluidity.  . Exited with 4.5 points, when second push failed. As the location was near BRN, should have allowed consolidation and trailed at swing low. Price consolidated for a long time before spiking up beyond BRN and PDH and HOD. Missed a 90 points move.

No more trades for the day.

04/08/2014

Gap up, Initial move was down.

1) IRH was broken. It did not look like a very nice direct BO set up.Missed the small upmove.

2) Took BPB Short of IRH, after price started reversing. Scratched with 5 points loss. Thought that it may be a BOF, on seeing the strong rejection and placed a BOF buy order. When price didn't come near the swing high and started going down, cancelled the Buy order and placed a BPB Sell order.

No more trades for the day.