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Wednesday, 13 August 2014

13082014


Nifty opened below PDC and formed the IR, avoided long above IRH as PDC and PDH was very near
1). Long on BPB of PDH at 7775, SL at 7763, stopped out. -12 points.
2). Short on BOF of PDH at 7748, SL at 7759, TP at 7724. +24 points.
No other trades taken.

Posted by at

5 comments:

  1. L.V.GandhiAugust 13, 2014 7:40 pm

    wAfter 11:00AM, There were higher lows indicating trend changing to up. A test of PDH was there at 11:36 bar. Can you clarify why the BO trade was not considered at 12:42 bar.

    ReplyDelete
    Replies
    1. DMAugust 14, 2014 9:30 am

      This comment has been removed by the author.

      Delete
    2. VKMAugust 14, 2014 4:22 pm

      LVG
      Please, do go through below link
      http://niftynirvana.blogspot.in/2014/06/trend-traps.html

      VKM

      Delete
  2. DMAugust 14, 2014 9:38 am

    LVG,
    I will try to answer your doubt.
    A BOF of PDH had just occurred. This changed the bias to bearish. Hence only look for shorts below PDH. Longs can be attempted only if price again moves and settles above PDH (i.e. BPB of PDH).
    DM

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