Nifty opened near PDL, IR formed, skipped the long above IRH as PDC and BRN was above and previous trend was down
1). Short on the BOF of BRN at 7694, SL above 7704, TP at 7675. +19 points.
2). Long on BPB of PDL from below at 7693, SL at 7684, TP at 7723. +30 points.
3). Short FTC, entered below MSP after lower high at 7714, SL above 7723, TP at 7675. +39 points.
very good performance why you didnt long at IRH BPB. and why take profit 7723 there?? here is my trades http://i62.tinypic.com/2j0h2qr.png please see and comment on it
ReplyDeleteRocky
DeleteI already mentioned in the post, skipped the long above IRH as PDC and BRN was very near.In the second trade TSL at 7723 was hit.
In your first trade, you could exit earlier if you trail the SL on pivots. In second trade, your entry was late,you may enter on breakout above the consolidation high or at the first pullback though BRN was very near but looking the momentum of the breakout of consolidation it was worth. Third trade is OK.
VKM
Edit
DeleteI could not see your first long trade so above comment was from your second (short) trade.
Your first long trade above IRH is not right because IRH is above 9:24 candle high( see the horizontal line in my chart), your long trade is into the previous day closing range high where we should look for short, long should be taken after breakout of that range.
VKM
Hello Sir,
ReplyDeleteWhere can i get the abbreviations for our websites terms.
Anandhan S
DeleteWe trade a method developed by SMART Trader.For abbreviations and details of his method and concepts you should go through his blog "Nifty Nirvana", use below link
http://www.niftynirvana.blogspot.in/
VKM
In your third trade whats the time of MSP candle formation in 3M thnx
ReplyDeleteAmber
DeleteMSP low formed at 14:15 candle which confirmed after lower high at 14:27, and my short triggered during 14:42 candle.
VKM
thnx very much
ReplyDelete