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Wednesday, 25 June 2014

25062014


Nifty opened slightly below PDC and start trading within a range. BOF of IRL gave a long signal, target was IRH but it did not went there.Scratched with 2 point profit.Again BOF of Range Low gave a long signal but i missed it as was not in front of screen at that time.Nifty attempted to break the HOD and failed, short on BOF of HOD/Range High.Target of range low achieved within six minutes.Nifty traded the whole day within a range of 15-20 points.
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2 comments:

  1. vikramJune 25, 2014 6:49 pm

    I see that for BOF, you take it on the other end of the candle. Or should we wait for the MSP to be broken? what is your observation based on real trades? Please share.

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  2. VKMJune 25, 2014 7:55 pm

    Vikram
    Ideally we should wait for pivot low to crack.But today Nifty was trading in a very narrow range, if i enter below the pivot low then there will be not much space for the trade to move because i was expecting a bounce from the range low, so i entered quickly below the BO candle low at 7587, and my target was range low at 7573.

    VKM

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