08/05/2015, FRIDAY

1) Opened with CT gap up at PDH. Longed above the first candle. Got 18 points.

2) Shorted when the 3^rd attempt to go up looked  like failing. Gave 5 points.

3) Placed a Long at BRN on seeing TRAP. Wanted the price to go up with good momentum and attack BRN. But price started pulling back on going near BRN. So cancelled the Long.

4)Shorted at the then BOF of  HOD. Lost focus and failed to remember that bias being bullish, serious attempt will be made to break HOD. Gave 9 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.

6/5/2015, wednesday

Very tough day.  Learnt a few lessons the hard way. 

Missed the downfall @ DO.

1) Skipped BRN BOF short, as LH had been made.

2) Shorted below RL. Got 7 points. Was trailing anxiously with  18 points SL, at the swing high, at one time.

3) Longed at spike and Ledge. Got 9 points.

4) PP Long. Stopped out. Gave 10 points. Momentum was less, as the price moved up to fill the order. Didn’t notice this and paid the price.

5) Took another short. Gave 6 points. Price moved down after stopping me out.

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.
 

9/4/2015,Thursday

1) Slight delay in placing the order resulted in missing the down move.

2) Was expecting consolidation. Was surprised by V shape recovery.

3) After V shape recovery, momentum was missing. 

4) Could not short BOF BRN, as I could not get a swing low for this CT trade.

 Stopped trading at 2.00 Noon, as I had some other engagements.

So no trades for the day.

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.

17/11/2014, MONDAY

Inside gap down opening just above BRN.

1) Did not short below IRL, as RN Spot was too close.

2) Low momentum move took the price upto BRN. Thought of going for a direct BO above BRN, but bitter memories of the past restrained me.

3) Could not enter subsequently, as PDC and PDH were closely located.

4) Did not feel comfortable trading into all time high. Hence skipped BPB PDH as well.

So no trades for the day.

 

28/10/2014,TUESDAY

Opened above the high of the last impulse of  yesterday.

1) Did not go Long above IRH, as it (IRH)  may not be clear to many traders.

2) Delayed taking IRL BOF Long, as I wanted a swing high for entry at/beyond the flip zone. Momentum was missing and hence skipped this trade even after getting the swing high beyond the flip zone.

No other  clear signals and hence no trades for today.

Was a choppy day.

27/10/2014, MONDAY

Opened with Gap up above PDH and found stiff resistance @ RN,8050.  IR was formed  above PDH..

1) Did not go for BOF or BPB of  IRL/PDH confluence, as momentum was very low. Further space was also less.

2) Did not take BOF BRN Long, as it came towards the end of the session. Further the penetration was hardly 2 points.

So no trades for the day.

07/10/2014

Resuming after a long holiday, Nifty opened with outside Gap down, 55 points below PDC. As expected, price was consolidating for some time. NS BRN was supporting the price for a long time.

1) Took IRL BOF Long. Had to scratch. -1 point.

2) Shorted BPB BRN. Made a quick exit, as I thought that the momentum is not good enough to push the price down further.  -1.5 points.

17/9/14

Big inside  gap up , followed by a downward initial movement. 

1) Did not take IRL BPB, though it is in line with day trend, as opposite directions of gap and initial movement indicated either the absence of clear imbalance between the sellers and buyers or that price may move in the direction of gap after a PB. Further 8000 PE OI was still higher than 8000 CE, implying that no big fall is going to happen immediately.       

2) Did not short BOF of BRN, as I thought that the momentum was low. Further, whenever initial movement has been retraced beyond Day Open,  a complex PB in the direction opposite to initial movement can be expected.

Did another mistake. DO remained the high of the day and no established IRH had been formed. Should have  discarded it after the price breached it. In that case could have taken BRN BOF quite early and escaped unhurt or got some minimum profit, even if price returns without touching the other extreme.

So, no trades for the day.

7/5/14, WEDNESDAY

1) Opened below PDC. 2nd candle indicated the failed attempt for BO of  PDC. 3 more attempts to break IRH failed. IRL was broken. Kept a BPB order here. Cancelled it as the momentum was not there.

2) Accumulated orders broke RH. Due to lack of subsequent buying, price fell back inside the Range, resulting in  BOF. The location is a semi DP. Space after a clear swing low(for entry), the pre-requisite for  an entry here, was not there, skipped this signal.

3) By now, it was evident that price is moving in a channel. Hence, the BOF of RL could not take price up. 

4) Price broke out of channel and BRN. BPB of BRN was a good signal. But the time is already 3.00 PM. So can't take this signal too.

NO TRADES FOR THE DAY.

18/02/2014

Opened just below PDC. Shorted before Swing low was formed and paid with SL. Price rose with a vengeance 

broke the confluence of PDH/PDC/BRN with consummate ease. Didn't go Long, as I was waiting for BPB of BRN 

Spot, which didn't happen. Later Rajeshji explained it clearly.  

Placed a SELL order at BOF on second testing of Range high, but cancelled it due to very low momentum.

Shorted on the BOF of RN  at 3^rd testing. Scratched with 5 points, as price was supported at the next MSP.   

Reply by Rajeshji(Nifty Nirvana) to my query.


Sir, 
Nifty Spot was 6096, when you entered the first BPB trade. Is it not necessary to wait for the BRN Spot to get broken?

SK
Previous day Nifty was in a tight trading range and morning it was breaking out of the range.Breaking out of previous day range is a major transition.I was aware of the NS BRN.

Price broke IRH and a very strong level PDH/PDC/BRN confluence very coolly without a pull back
usually such moves will not end without a second leg move before consolidation. Further risk was very low. If price break fails just exit and try to buy at BRN.

Level breaks work only on the traded instrument.No body will keep SL or limit orders on spot. The only thing is that we must be well aware of the area and there is a possibility of institutions defending the area.