11/9/2014

No  gap . Initial movement – up. Strong rejection at PDH and price rapidly fell down.

1) Did not short BPB of IRL, as BRN Spot was closely located. Below BRN Spot, low of the last impulse move of the previous day was there.

2) Price fell steeply. No clear signal to join this down move, though was expecting it from the morning. But in hindsight, after seeing ST's blog, can understand that it is a very good FTC trade. Lack of knowledge about FTC was the reason for missing this trade.

3) Did not short BPB of BRN, as it was a strong support in the Hour timeframe.

4) Went Long above BRN,  trusting the exit of critical mass. PDL was located exactly 10 points away . Stopped out.  Gave away 8 points. While taking such trades, space must be more than 15 points, I think.

5) When price soon climbed up, thought of entering Long above the swing high. Hesitated and missed 15 points.

05/08/2014

RBI announcement day. Waited till the announcement was over.

1) Steep fall below PDH/PDC  confluence.  Could not capture this move in the absence of clear signal.

2) Took CT PP Long trade. Expected it to move well, due to fluidity.  . Exited with 4.5 points, when second push failed. As the location was near BRN, should have allowed consolidation and trailed at swing low. Price consolidated for a long time before spiking up beyond BRN and PDH and HOD. Missed a 90 points move.

No more trades for the day.

03/07/2014

1)Out side gap up.Big upper tails on 1st and 2nd candles indicated selling pressure. Hence didn't go long. Was right.

2)Price fell down quickly. Could have shorted below RN. The strong pullback candle and the consolidation bar of the closing session of yesterday were reasons for hesitation. Fall continued till the price got supported just ahead of BRN Spot. Price climbed up quickly. Could not have gained much, even if this signal was taken.

3)Consolidation High was too close to PDH. After the CH was tested, placed the order, hoping that PP will take the price above PDH, triggering the stops there. But price could not break PDH. Second attempt to take the price above PDH failed, confirming the  absence of order accumulation. When price failed to spike up, exited quickly. -1 point.

4) Thereafter, price movement was choppy. Hence didn't take any other trade.

19/06/2014, THURSDAY

1) Tried to break BRN 7600 in the initial few minutes, but couldn't.  Shorted BPB of BRN, seduced by fluidity. Exited with 7 points.

2) Shorted BPB of  RL and exited with 7 points.

3) Missed the CT PP, was not sure as the trade is directed into chop zone. But the initial burst was good. Went Long on BPB of RH. Exited with 2 points.

With so many DPs and semi DPs around, price could not move freely.

18/06/2014, WEDNESDAY

1) Tried to break PDH, couldn't. Didn't go Long as BPB  of PDH, as 7660 level is a strong flip zone. Was right.

2) Having failed to move up, fell down after a long period of consolidation. There was a chance to join the bandwagon below BRN Spot, but didn't take it.

3) Went Long CT PP at the breach of swing high of first test of MSP. got 22 points.

No more trades for the day. Should improve in trading the momentum moves. Falling knife can be caught and speeding trains can be boarded.

25/04/2014,FRIDAY

1) First day of a new Series. Marking PDH,PDL remains a problem on the first day of a new series.Maybe, have to look only at Nifty Spot chart on the first day.

2) Small Gap down. IRL was broken and price pulled back above PDL and got rejected. Strong WT BOF with a penetration of more than 5 points was a good signal to go short. Hesitated on where to short - at the BO candle low or swing low. Strength of WT BOF influenced in a big way and placed a SL order below BO candle low, bit late. But price moved down quickly and this order was not filled.

Price pulled back to the level, I wanted for entry, but hesitated. Finally placed an order below the swing low. But the momentum was very less and it looked like the price may chop and consolidate. Hence cancelled this order too.
In the hindsight, should have shorted without hesitating on seeing such a strong WT BOF, at BO candle low,  considering the minimum space with FTA. PULL THE TRIGGER AS SOON AS YOU SEE SUCH JUICY SET UPS.

3) After moving in a tight range for almost 3 hours, price fell sharply. Shorted on BPB and got 8 points.

4) Didn't take  CT PP Long.
Was looking for a BOF either at Day Low or BRN. But what followed was TST at Day Low. Further
space between the entry swing picot and MSP was very less.

Hence skipped the CT PP Long. BOF at MSP trapped all the PP Longs.Further difference between ATP and VWAP was more than 32 points and probably that is why bears were under no pressure whatsoever to exit enmasse to trigger a quick reversal.

Only one trade for the day.

ST Clarification.:

ST has clarified to another blogmate as to how he decided that price will go down(not up) after the consolidation for 3.5 hours.

My BO trade was a minor trap pattern. Notice that I have drawn a line there.
There was no upward momentum on the break of previous swing high.
If price stayed above that flip line for a while, I will look to go long on a BO. Target will be IRH
We can expect a lot of stops above this range