Wednesday, 13 August 2014

13082014


Nifty today opened 15 points gap down but initial move was up.
1) BPB of IRH.  Went long above PDH as the PDH was very close.  It moved 20 points in my favor but then there was a deep pull back to PDH.  Could manage to get only 5 points.
No other trades.

My work schedule will allow me to trade only the morning session from now onwards for the next few months at least. 

8 comments:

  1. Thanks Dave.
    Question: Wasn't this trade more of intuition trade ?

    ReplyDelete
    Replies
    1. Xrtrader

      Actually I put the order when it filled the gap and pulled back slightly to IRH. I thought that was the nice setup and it would break PDH.

      As I was trading only the morning session, back in the mind I knew I would not get much opportunity in morning many a times. Last two days we did not get any good opportunity to trade in the morning. I think maybe that was the reason I took that trade. I jumped into whatever I got. Should not do this again.

      URD

      Delete
  2. Replies
    1. TBP

      Thanks..Hope to see you back soon.

      URD

      Delete
  3. URD Sir,

    This chart is much more clearer than the earlier ones you have published and easy to understand. Thanks.

    KSG

    ReplyDelete
    Replies
    1. KSG

      This chart is for half day only. That is why candles look bigger. In a full day chart candles get squeezed and they look smaller. Anyway I will keep this way. Thanks.

      URD

      Delete
    2. Hi Dave,
      If I was only trading half a day I would still post the full day chart and just note where I traded to. As I presume you will eventually return to trading a full day in the future. Posting the full day chart will therefore make it easier to review market structure etc ..... 6 months down the line. Steve.

      Delete
    3. Steve

      Thanks for your suggestion. Actually what you say makes sense. I was doing the same but posted only half day chart as I traded that only.

      I will post full day chart from tomorrow.

      URD

      Delete