Tuesday, 6 May 2014

06052014


Not traded today, however could find two trading opportunities during the day where I thought Space was a problem.

Nifty gaped up above PDC, was above previous day closing range and RN. Thought bias was bullish.

1) BOF of IRH.  Noticed tails on initial candles, sort of getting sold at higher levels. Then there was a pin bar indicating BOF of IRH, a CT trade. Immediate support was at IRL and RN. Space was a problem here. So no trade.

2) BOF of PDC. Here again problem with the Space, next DP was RN. No trade.

There were two PP trade opportunities for direct BO of RN but again PDC there was very close by.

Conclusion:  Though both trades were CT and space was a problem, reached to the next DP.

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