13/03/2014, THURSDAY

Initial candle showed heavy selling at PDH. Supported at PDC, retraced in quick time to PDH and again got sold off. But this time, selling was absorbed and a HL was seen. As expected, price broke out of IRH. Having observed the HL and LH inside IR, it is time to start attempting direct BO trades at IRH and IRL. (On 6/3/14, with a similar initial candle, signifying heavy selling,  price went above IRH, fell back into IR, made a HL and shot up without turning back). 

BOF noticed at PDH. But there was no space, as there was a strong consolidation bar at 7 points space. What followed was a cigarette for 3 hours. Failed to spot it and missed a 50 point move.

Did well not to take any trade inside the cigarette. Having not taken any stupid trades in the last 3 days, it is time I evolve into taking direct BO trades at IRH, IRL, PP and Cigaratte.  

 

12/03/2014, Wednesday

Opened just below PDC, had a quick but small fall below IRL. No time to enter. Price climbed up rapidly  and was consolidating above PDC. Expected a BOF at PDC, but that didn’t happen. 

Soon fell below PDC. Went Long at BOF during the end of the day. Made a premature exit. Trailing should improve. Will use 5 min charts for trailing hereafter.

Second consecutive day, when I didn’t commit any stupid mistake. I may not have taken some super trades, but I did not do what should not be done and that enhances the confidence.  

11/03/14, TUESDAY

 

Didn’t make profit, but can be satisfied with my trading, reason being, I took only those trades, taken by Pros, not to mention,  today is a very tough day with price moving everywhere at will.

Price rose to just below PDH and fell below PDC. BOF noticed at RN. Expected PDC to act as Flipzone and restrict further upmove. Not to be. Making a LH near DH, price fell fast, giving no chance to enter. Now it looked like a big channel.

Expected the price to consolidate after such volatile moves. Didn’t take BOF at RN as price was still in a channel and the space was too less.

1)      Took BOF of RL. Made just good enough for Broker. RN was standing in the way like an iron curtain. It was PP and expected this to move well. Not to be.                                                                                                                                                               

2)      Took BOF of BRN Spot. This trade moved a little bit, after I had scratched.

Focus hard and maintain discipline on a consistent basis. YOU ARE/WILL BE A PRO TRADER.

 

10/03/14, Monday

 

Another frustrating day.

BOF at PDH. Waited to PDC to get broken.  Shorted at the break of PDC and got stopped out. BO candle was big followed by 2 more candles in the same direction. There was a strong chance for 2 legged choppy PB. Still shorted and paid the price. 

Made another mistake, when mistook the sexy pinbar at PDH as BOF. Actually PP was going on and the price was stalling at PDH for a while. Could realize my mistake, immediately after getting stopped out. If only, I get it before entering……!!!!

Tomorrow is another day.

 

07/03/14, Friday

 

Made a HL after IR was formed and IRH was broken. It was a good Long opportunity, but didn’t take it. Shorted  when the price reversed, but price quickly started moving up and was stopped out. Didn't reverse the trade, as was hoping for the exit of critical mass sooner or later. (Being Friday, thought that the critical mass will  sell and exit forcing the price to fall.) But all the selling was absorbed and Nifty made a lifetime high.