1) Avoided CPB Short, as Pivot 2 was
well inside LL, indicating weakness of
bears.
2)HLs at RL of Intra Range foretold
abt the BO at RH. Didn’t take Long BO trade.Didn’t get PB entry here.
3)Looked like PP set up below BRN.
Didn’t want to go for BO after a long up move.
4) Skipped CPB/Spike and Ledge Long,
as the zone from where price fell yday
was too close.
So no trades for the day.
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.
Hi SK,
ReplyDelete1) The pivot low you market as 4 at location marked as 1 is not a pivot low as there are no two higher lows to the left of that.
2) Narrow range inside a wide range is quite common in NIFTY especially after a big fall or big rally in the previous session. Build some tactics to tackle those scenarios.
3) Don't look at the higher lows and lower highs when price is trading in a range. It might cause information overload which takes away the focus from the obvious setups. You missed a PP of that narrow range.
4) There was no PP trade at location 3 as price hasn't tested that level enough before that.
Thanks Jagadeesh. Noted your inputs. Will amend my analysis.
ReplyDelete