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Tuesday, 12 August 2014
12082014
Nifty opened gap up above PDH, IR formed, bias was up
1). Long on the BOF of range low at 7673, SL below 7663, TP at 7681. +8 points.
2). Long on BPB of BRN around 7719, SL at 7708, TP at EOD. +32 points.
1. I took long on clear breakout failure, means candle closed below range low and then its high break.Therefore long not taken at your first point. 2. As i mentioned in the post, bias was up, Nifty was was trading above PDH so we are looking for long opportunity. Direct short below range low is very low probability trade.
yesterday, you took trade below 09:27 bar in 9:48 bar. Can you please explain reason for not taking trade below low of 10:39 bar in 12:09 and 12:51 bars
On 11/8 previous trend was down and Nifty opened gap up and tried to fill the gap created by previous day gap down but failed to continue above day open so we shorted there as FTC, also Nifty remain above PDH all day and made a quick upmove in the end so bias changed to up. On 12/8 also Nifty opened gap up, but bias was up so we avoided short below IRL and was looking for long opportunity so we took long as BOF of range low. Hope it helps.
http://i57.tinypic.com/iz6yq1.png please reply this..
ReplyDelete1. I took long on clear breakout failure, means candle closed below range low and then its high break.Therefore long not taken at your first point.
Delete2. As i mentioned in the post, bias was up, Nifty was was trading above PDH so we are looking for long opportunity. Direct short below range low is very low probability trade.
VKM
VKM,
ReplyDelete2nd Trade is Nice... I missed as i am hoping for pull back till BRN :)
Rose
DeleteIt happens. We dont get what we think always..
VKM
This comment has been removed by the author.
ReplyDeleteyesterday, you took trade below 09:27 bar in 9:48 bar. Can you please explain reason for not taking trade below low of 10:39 bar in 12:09 and 12:51 bars
ReplyDeleteThere was no trade opportunity below 10:39 bar low.
DeleteLVG is comparing 11/8 and 12/8. Both were gap up days. On 11/8 you took the short trade and on 12/8 you avoided it. Pl elaborate. Thx.
DeleteOn 11/8 previous trend was down and Nifty opened gap up and tried to fill the gap created by previous day gap down but failed to continue above day open so we shorted there as FTC, also Nifty remain above PDH all day and made a quick upmove in the end so bias changed to up.
DeleteOn 12/8 also Nifty opened gap up, but bias was up so we avoided short below IRL and was looking for long opportunity so we took long as BOF of range low.
Hope it helps.
VKM
Thanks for reply.
Delete