RBI Announcement day.
Didn't take any trade till the customary volatility was over. By then, a BIG down move was completed. Expected the price action to be choppy, as it moves up from LOD.
1) Was expecting TST/BOF @ LOD to let me long. That didn't happen on both attempts. Price moved up making HL.
2) Was expecting a bounce as the price hit the swing high above PDL. Wanted to Long after the bounce. The bounce did happen, but the selling was absorbed too quickly. By the time I realised that the bounce was over, price had moved up quickly, without letting me enter.
3)8840 was the Range Low of the last impulse of yesterday and today also it acted as RL for sometime.This level became FZ and resisted the upmove along with RN. Thought of longing above RN, if these levels get broken. That alsodidn't happen.
So no trades for the day.
Price started moving upward in a channel after the vertical fall.
Good Evening Karthikeyan,
ReplyDeleteI like the way you analyse the price moves, as per ST's guidelines.
Need to learn lot from you,
You are on track keep moving
Raju
Good Evening Karthikeyan,
ReplyDeleteI like the way you analyse the price moves, as per ST's guidelines.
Need to learn lot from you,
You are on track keep moving
Raju
Good evening Raju,
ReplyDeleteThanks for the motivating words.
As always, please confirm with ST. My interpretations may not be right and I don't want you to grasp the distorted understanding of the concept from me.
Thanks
S.Karthikeyan
HI KS,
ReplyDeleteDid you noticed , yesterday's data was missing today on the chart. I just want to confirm.
Thanks.
Arvind
Hi Arvind,
DeleteI don't notice anything of that kind. Whatever data has been backfilled, still remains. Do you find any data missing in my chart? Is anything missing in your today's chart?
S.Karthikeyan
I mean the bars of 02022015 were missing on my charts, that means we cannot mark PDH,PDC,PDL etc .
ReplyDeleteThanks
Arvind
You can backfill afresh. Did you back fill and try?
DeleteThanks
S.Karthikeyan