20/10/14

Outside Gap up of 100+ pts.

1) After prolonged consolidation, price failed to break IRH/BRN Spot. Thought of shorting at the 3rd ( M shape) bottom. Hesitated and missed. That turned out to be the best signal of the day.

2) Did not short BPB of BRN, as addition in 7900 PE was too good to be ignored.

3) Looked like BW at BRN. Still the chances of an explosive up move, if  the trapped traders exited, made me take the risk and go Long. Stopped out. -9 points.

No more trades for the day.

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.

23/04/2014, WEDNESDAY

1) Being Expiry Day, had to refer options OI. The broad range is 6800 to 6900. OI of  6850 was more or less evenly matched. 

2) Opened just below PDC and started moving up with very low momentum. As PDH and RN were closely located one above another, had to wait till the price encountered RN.

3) Weak BOF of RN followed. Penetration was just 1.25 points. Move originated as BO of  IRH. RN is not a strong DP. Hence kept an order below swing low. This order was not filled. If entry was made at low of BO candle, would have been stopped out.

4) Failure of BOF of RN looked like BO. Though RN was broken, RN-Spot was not firmly broken. Hence didn’t go Long above RN.

5) Failing to break RN Spot, price started falling down in a sloping channel. Waited till 2.00 PM and choppiness continued. Didn’t want to enter after 2.00 PM -  big boys jump in the fray and the swing traders  go for a Roll over rendering the analysis an impossible task. 

So no trades for the day.

   

26/02/2014 Wednesday

 

Expiry Day. Opened inside PDR.  TST noticed at PDH. Waited for BOF, which never happened. Price was consolidating in a very narrow range below PDH as a Cigaratte.  Could have entered PP on seeing Cigaratte. No other clear signals were available for the day.

PDH was broken, but didn’t enter Long, as the Momentum was not good enough. Further Options OI clearly indicated that the range is 6200 – 6250. So wanted to enter at the extremes, at BOF. Didn’t get the signal throughout the day. Price was  moving in a channel. So no trades for the day.