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Monday, June 1, 2015

01/06/2015, MONDAY




1)Shorted PDH BOF. Gave 5 points. Price hit the target after my exit.

Price started Ranging subsequently. Could not find any reliable signal.

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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8 comments:

  1. UnknownJune 1, 2015 at 3:23 PM

    Hi Karthikeyan,
    There is a mistake in counting pivots in the second range.. As the movement is down then, you must start counting with pivot high. But you started with pivot low...

    ReplyDelete
  2. nifty for breadJune 1, 2015 at 3:27 PM

    Thanks Jagadeesh for pointing out the mistake. Was my exit correct? Or I should have waited for another testing and trailed slightly higher?

    ReplyDelete
    Replies
    1. UnknownJune 1, 2015 at 3:31 PM

      It was taken against bull strength and in the wrong zone. There was no proper price level to initiate a trade. what was the setup behind your entry there??

      Delete
  3. nifty for breadJune 1, 2015 at 3:55 PM

    I thought that it was TST of the HOD. Momentum of bulls drastically reduced with too much of overlapping candles. So I shorted after seeing comparitively stronger momentum in the down move. Please point out the mistake in my thought process.

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    Replies
    1. xrtrader1June 1, 2015 at 4:21 PM

      IMHO you are trying to asses too much here. PA was choppy no concepts are applicable here. Keep it simple.

      Delete
    2. nifty for breadJune 1, 2015 at 5:00 PM

      I am not yet a finished product. Thanks for the comment.

      S.Karthikeyan

      Delete
  4. UnknownJune 1, 2015 at 4:21 PM

    Yeahh.. Thenn it's perfect.. But what you have given is a retail entry.. We must look to enter closer to boundary especially in TST setups. Breakout entry technique in TST setups hurts us psychologically in most cases.. I have mentioned it here..
    http://discretionary-trading.com/2015/05/tactics-while-dealing-with-pullback-trades-pb-cpb-and-structural-trades-bpbboftst/
    in the 3rd point of structural trades.. Chasing the price is not a good idea in TST..

    ReplyDelete
    Replies
    1. nifty for breadJune 1, 2015 at 4:59 PM

      Yes. It was a retail entry. I should have entered below 11.33 candle. Thanks for the guidance.
      S.Karthikeyan

      Delete

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