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Friday, 8 August 2014

08082014


Nifty opened big gap down near BRN 7600 and sold, IR formed
1). Short on BOF of IRH/BRN at 7595, SL above 7602, TP at 7585. +10 points.
2). Short below the then LOD at 7570, SL above 7580, did not move as expected, scratched at 7575. -5 points.
Did not take any other trades.


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2 comments:

  1. UnknownAugust 09, 2014 8:03 am

    Hello Sir,
    Initial range high, low is time based or candle based?

    ReplyDelete
    Replies
    1. VKMAugust 09, 2014 6:51 pm

      Initial range is not time or candle based,there is no such rules.
      It is move based, look above chart, Nifty opened and first moved down then up and then down within first low, it formed a range that is initial range and this range high is IRH and low is IRL(ignoring wicks most of the times).
      So it is a range formed by initial moves of Nifty, it may take 15-20 minutes or 30-40 minutes or more.

      VKM

      Delete

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