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Friday, May 8, 2015

08/05/2015,FRIDAY




1) Shorted RL BPB. Got 41 points.

2) Was surprised by the V shape recovery. Was expecting some consolidation, as it mostly happens in Nifty after a vertical fall and hence didn’t take Long, as the price reversed. Must watch, whether V shape recovery happens regularly  in crude oil.

Disclaimer: I am not a Research Analyst, registered with SEBI/MCX or any Exchange. 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.

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11 comments:

  1. AnonymousMay 8, 2015 at 11:35 PM

    Nice Trades !

    Kiran.

    ReplyDelete
    Replies
    1. nifty for breadMay 9, 2015 at 10:08 AM

      Hi Kiran,

      Thanks.

      S.Karthikeyan

      Delete
    2. Uday DaveMay 9, 2015 at 12:11 PM

      SK

      You have been doing a very good job of posting your analysis on crude oil. It is very much appreciated. Thanks.

      URD

      Delete
    3. nifty for breadMay 9, 2015 at 2:47 PM

      Daveji,

      Thanks a lot for the encouraging words.

      I would have lost hope and quit trading, if I did not see the blogs of ST and yours. Because of your constant guidance only, I have got a strong belief that I will make it sooner or later.

      Thanks a lot for guiding us through the tough phase.

      S.Karthikeyan

      Delete
  2. AHGTraderMay 9, 2015 at 11:04 AM

    Awesome trade. Good work.

    After the BO above IRH, the bias was up. Curious why you skipped the BOF trade @ A (PDL) as well as B (BRN). C was on odd one. BPB but the last low was a HL. I see from your past trades you don't take that many BPBs. Don't like it?

    You are right after the furious dump its going to be tricky to take any longs.

    https://www.dropbox.com/s/qzjd5tgwh1gmeyy/CL.png?dl=0

    Thank you and have a good weekend.

    ReplyDelete
    Replies
    1. nifty for breadMay 9, 2015 at 2:41 PM

      I was told that real good moves in crude oil happen only after 5.00 PM only. So I don't trade before 5.00 PM. I have no intention of trading before 5.00 PM, when I do real trading. Hence I ignored A and C.

      Regrading C - The momentum of fall from HOD was so strong that I didn't want to take a Long, against it. I was not hopeful abt HOD getting broken after one red candle wiped off 30 points.

      So HOD was the FTA. Risk and Reward were same. Better to look at trades, where rewards are at least twice the risk.

      My trade may be called CT, if you look at the trend of intra day. But if we look at the day time frame, price was trading below the Range of previous day. In that sense, it is With Trend trade, I think. In ST's words "Good moves begin where CT moves pause". May be this is an example for that.

      Generally I am not good at picking up BPB Longs. Up moves are mostly accompanied by strong retracements and I have been whipsawed many times. So, unless I get an entry close to the DP, I let them go. It will take some time, before I improve on this aspect.

      Thanks for your comment. Wishing a great week end.

      S.Karthikeyan

      Delete
    2. AHGTraderMay 10, 2015 at 9:25 AM

      Thank you for the detailed response. Enjoy the rest of the weekend.

      Delete
  3. Uday DaveMay 9, 2015 at 12:12 PM

    SK

    You have been doing a very good job of posting your analysis on crude oil. It is very much appreciated. Thanks.

    URD

    ReplyDelete
  4. MittiMay 10, 2015 at 10:07 AM

    Hi,
    What chart service are you using for Crude?
    Thx,

    ReplyDelete
    Replies
    1. nifty for breadMay 10, 2015 at 12:27 PM

      Hi Mitti,

      I am using Bazaar trend free charts for book trading. I have not yet opened an account for commodities. Please use the below mentioned URL to get the free chart.

      http://www.bazaartrend.com/nsecharts/intraday-free.php?symbol=CRUDEOIL1%20MCX

      Thanks,
      S.Karthikeyan

      Delete
  5. MittiMay 10, 2015 at 10:08 AM

    Hi,
    What chart service do you use for MCX Crude Oil?
    Thx,

    ReplyDelete

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