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Tuesday, May 26, 2015

26/05/2015, TUESDAY




1)Shorted with a Limit order at RN/PDL confluence on PB. Gave 5 points.

2) Again shorted slightly above RN. Got 5 points.

Could not spot any other reliable trade.

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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4 comments:

  1. UnknownMay 26, 2015 at 3:27 PM

    Hi Karthikeyan,
    Your first trade is against bull strength.. All the candles were closing above previous candle highs. There was no decrease in candle ranges either..

    ReplyDelete
  2. nifty for breadMay 26, 2015 at 3:46 PM

    Hi Jagadeesh,

    Yes I was caught on the wrong foot. I took the trade too early. I kept a Limit order at XX50, after seeing the low close bear candle at 10.03. In hindsight, Price had not yet actually tested PDL. I feel that I should have drawn the zone instead of a line for PDL. If the zone was drawn, may not have taken the trade, before the zone is penetrated.

    My tendency is to take little bit of liberty with lines, as sometimes, price reverses before touching strong levels, rarely once in a while. Should mend my ways. Thanks for pointing out the mistake.

    S.Karthikeyan

    ReplyDelete
  3. xrtrader1May 27, 2015 at 8:43 AM

    Your Second trade is same as ST. Keep it up you are on to something. Its all about how you view the market.

    ReplyDelete
    Replies
    1. nifty for breadMay 27, 2015 at 8:54 AM

      Thanks Shasank. These encouraging words mean a lot to me.

      S.Karthikeyan

      Delete

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