Tuesday, June 23, 2015

23/6/2015, TUESDAY




Price hovered around TVP @ DO. Expected  sideways Market.

1) Shorted PDH BOF. Got 20 points. It was a retail entry. Could not spot any clean signal to take the trade outside the Range.

2) Wanted to short on PB. But acceleration was too good. Hence skipped it.

3) Missed a good BOF, as Net connectivity problem was there.

4) Shorted at the same location. Got 6 points.

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.

4 comments:

  1. Hi SK,
    Nice trades. Keep going. :)

    ReplyDelete
  2. Karthikeyan,

    What was the difference between the accerelation up to 11.36 which you avoided taking counter trend trade and accecerelation upto 14.30 wher u took short where earlier it was failure action was there. at range low expecting range brekout .

    Thanks

    Bharat

    ReplyDelete
  3. Hi Bharat,

    At 11.36 candle, I was thinking of shorting on Pull back. There was a strong chance for PB ending somewhere around XX73.35, low of 10.57 candle(acting as flip zone). Eventually PB was halted here and price started moving down. Here I didn't short, as I wanted to wait for a probable second attempt, because the acceleration was just too much, evident from the increasing size of the successive green candles. But price went down without making a second attempt to go up and hence I had to miss this.

    In case of 14.30 trade, it was not a short on Pull back. It was BOF of Range boundary. 11.03 candle high became a Range boundary after 4 pivots(2 swing highs and 2 swing lows, marked 1,2,3 and 4 in blue) were made between it and the lowest low of the swing,11.21 candle low. In this trade also, acceleration was good. So, I waited till 2 attempts to go up failed and then shorted.

    Trust this helps. I am learning these set ups from Jagadeesh.(http://www.discretionary-trading.com/23062015_nifty/#comment-936) So, I am not sure, whether I am 100% right.

    Thanks
    S.Karthikeyan

    ReplyDelete