12/01/2015,THURSDAY

1) Day opened with LOL BOB@ BRN/PDH. Shorted and got 10 points.

2) Could not spot any reliable signal subsequently. Didn't trade after 2.00 Noon, due to some other engagements.

30/12/2014, TUESDAY

1) Skipped BOF BRN as consecutive LHs were formed from yesterday.

2) Skipped LOL BOF of BRN PDL, as I suspected that the momentum is just not there. It took more than 30 minutes to come above PDL.

So no trades for today also.

Disclaimer: I am not a Research Analyst, registered with SEBI. 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.

21/04/2014, MONDAY

1) Was in a very narrow range for a long time. Strong LOL BOF of IRL/PDH at Noon. Didn’t take it as the space between the possible point of entry and FTA was hardly 7 points. 

2)LOL BOF failed to break IRH, indicating that IRL may get broken anytime. After another mild BOF at IRL, price spiked above IRH and soon reversed to IRL, suggesting the absence of significant imbalance between buyers and sellers.

3) This was followed by price consolidating just below IRH, suggesting order accuumulation above IRH, which is a high fluidity zone. As the price has been moving in a very narrow range for  more than 5 hours, any BO into the fluidity should be a good move. 

Good BO soon followed and those who had taken this trade could have made around 25 points. Skipped this trade in line with the policy of avoiding direct BO trades, till consistent wins are achieved.

So no trades for the day.  

11/04/2014,FRIDAY

1) Gapped down below PDL/PDC and BRN. Didn't take the BOF of IRH-BRN confluence, as the space between possible entry point and IRL was too less.

2) Was moving in a Cigaratte like narrow range. Suddenly price rose rapidly and LOL BOF occured. Shorted below the minor swing low just below BRN. Being such a strong BOF, expected the IRL to get broken effortlessly and move down for at least 40+ points. But IRL supported the price. Exited with 5.5 points.  Though this exit is not bad in today's context, am not happy with the manner in which I trailed. Exited before the PB of new zone was completed. Need of the hour is patience while trailing.

Didn't take any other trade.

My query and  ST's clarification.

Sir,
Please explain, why you expected a strong reversal in the last half an hour.
Thanks
S.Karthikeyan

April 11, 2014 at 4:46 PM

S.Karthikeyan said...

Sir,
I refer to your second trade. It seems that you had exited as soon as the 1.33 Noon candle(Day Low candle) high was breached.

Normally, when BOF is noticed at a Range extreme, we expect the other Range to break. Normally you wait to see whether the other extreme gets broken in the second attempt, if not in the first attempt. But in this case, you seemed to be quite sure on seeing the 1.33 Noon candle that it is the BOF of IRL and exited early. How did you judge it so correctly and made a quick exit?

I too took that trade and exited bit late.

Thanks

SMART Trader said...

SK

Price failed to extend beyond the first candle of the day three times and when the fourth one closed inside the range after the break I exited immediately protecting little profit.
I immediately placed a SL short entry order below LOD not to miss the down move if it happened.Nifty was in no mood to go down. I expected some short covering at the end due to holidays

ST

02/04/14, WEDNESDAY

1) Gapped up. Didn’t take BOF of PDH Long, due to want of space.

2) Skipped BOF of IRH also due to want of space.PDH and PDC were closely located.

3) LH followed by consolidation above PDH prompted me to go for a direct BO short. Stopped out. Be aware of your limitations and don’t go for direct BO henceforth.

4) Didn’t take the LOL BOF Long, due to want of space. Must have trusted the strength of LOL BOF and taken it. Totally forgot that strong BOF/LOL BOF will most probably break the other extreme, more so, if the range is narrow, like today's. Missed the only reliable signal of the day.

Did what am not supposed to - direct BO

Didn't what I had to - taking a LOL BOF trade