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Thursday, July 23, 2015

23/07/2015, THURSDAY




1)Day opened with BOF of  RL(continuation of yday closing session). Wanted to see weakness of bears before longing. But price ran up too quickly.

2)Looked very much like PP in making. Expected this CT PP short to fail and was looking for an opportunity to long. But it triggered a high momentum fall.

3)Looked like a climatic fall. Longed BOF BRN and trailed closely, as it was CT trade. Trade was taken before seeing the strength of bulls, trusting the strength of BRN. Got 7 points.

4)Longed at BOF BRN/LOD confluence. Got 24 points.

In hindsight, price was moving in a downward sloping channel throughout the day.

Disclay muchimer: 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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5 comments:

  1. Lonely TraderJuly 23, 2015 at 3:47 PM

    Hi KS, what's TVP? I took a short there on the red candle. See my trades http://nidsetups.blogspot.in/2015/07/bof-trio.html

    Thanks bro,

    ReplyDelete
    Replies
    1. nifty for breadJuly 23, 2015 at 6:57 PM

      Hi LT,

      TVP is trend violation pivot, same as MSP, major swing pivot. Your trades were very good. Your study on DO price and its relationship to the closing price of the day was highly informative. It gives us one more tool to judge the future bias.

      Thanks.
      S.Karthikeyan

      Delete
  2. JagadeeshJuly 23, 2015 at 7:59 PM

    Good work Sk..

    ReplyDelete
  3. Lonely TraderJuly 24, 2015 at 6:59 AM

    Thanks KS.

    Good day,

    ReplyDelete

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