Thursday, 22 May 2014

22052014


Nifty opened within previous day's closing range. IR formed.
1) BO of IRH, BPB of BRN.  Kind of PP at IRH gave the confidence to go long though there was PDH and NS BRN over head. Booked when it failed to remain above NS BRN.  Profit of 9 points.
2)  BPB of PDH. TP when flip failed to hold.  Profit of 18 points.


7 comments:

  1. Sir,
    Please post your trades,daily. People like me are following.
    Can you please explain the PP at IRH? What is the reason for order accumulation in that area, in your opinion, when PDH and BRN are just above?
    Thanks,
    S.Karthikeyan

    ReplyDelete
    Replies
    1. Hello S. Karthikeyan

      Thanks for visiting here. I would love to trade daily but due to my work commitment I cannot do it daily. Whenever I have time, I do that.
      Regarding PP, it was not a perfect PP. Why would it go up? Answer, there was initial move down after the market open but it did not carry through. Then price bounced and crossed BRN. Then it consolidated around IRH. Price was not going down. So whoever shorted from the morning were going to cover and BO trades were supposed to join them. Risk was also less, SL below BRN. So took that trade. As ST said "Do not look for certainty and perfection. Take a decision as per available information and execute. If it is not working exit without serious damage."

      Hope I could answer your query.

      Thanks

      Delete
    2. Sir,

      Thanks for the guidance.
      S.Karthikeyan

      Delete
  2. Hi URD,

    How do you set-up 3-min candles in MT4 charts?

    Thanks,
    Rajib

    ReplyDelete
    Replies
    1. Hello Rajib

      Thanks for visiting. I am going to write a post here on MT4, most probably today itself. Please come back and have a look at that post.

      Thanks.

      Delete
    2. Sir,
      I think, there is slight difference in the price in MT4. So it may be difficult to know the exact price at which orders have to be placed. Please explain about this aspect too, in your post on MT4.

      Thanks,
      S.Karthikeyan

      Delete
    3. SK

      I have addressed your concern in the post.

      thanks.

      Delete