Bias was bearish @ DO.
1) First candle showed strong rejection. Price couldn't stay above PDL. Second candle indicated that buyers are also strong at that level. Took a chance and shorted below the first candle. Stopped out. Gave 10 points. Should have waited for PB, once I started doubting. Lesson learnt.
2)BOF @ IRH was a strong signal. Skipped it as the space with PDL was hardly 10 points. Further too much of congestion was around PDL.
3) Strong momentum move launched the price above BRN. Waited for TST @ RL to long. But it was broken down.
So no more trades. Very difficult to judge the price movements.
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.
Goodevening Karthikeyan
ReplyDeleteHigh volatile and very difficult to trade today.
I think we missed the BPB of PDL short which would have given a 20 pts trade.
Generally how much gap will you see from one DP to next DP for entry.
Raju
Hi KS,
ReplyDeleteThanks for the AFL
Today was a good day for me. Took a long trade above the Master Candle as BOF of IRL as I was expecting lot of order flow above that.
My trade
http://screencast.com/t/BNjDoe8rSo1
Regards.
Arvind
Hi Arvind,
DeleteVery nice anticipation. Congrats
These are the areas, where I have to improve.
Thanks,
S.Karthikeyan
Good evening Raju,
ReplyDeleteWe must learn to trade in these kind of days also, if we have to become pros.
BPB OF PDL - At that time space between the possible entry point and the then LOD was less than 10 points, I think. In hindsight, we should have trusted WT BOF and jumped in just below RN and sat tightly, without worrying about the congestion around PDL.
The last upmove was CT PP. Unless we are consistent winners,we won't muster the courage to take CT PP, that too without significant critical mass.
Normally for WT trades, I look for 10 points space with FTA and 15 points for CT trades.
Thanks,
S.Karthikeyan