Wednesday, 17 September 2014

17092014


Today there was a CT gap up of around 35 points.  Then it moved down to try to fill the gap.
1)  BOF of BRN and DO/IRH.  It moved well and reached to the LOD then.  Booked it when it bounced from it.  Profit of 15 points.

I was somewhat busy in the morning so attempted only one trade.

8 comments:

  1. hi Dave,
    That was the only trade available today correct ?

    ReplyDelete
    Replies
    1. xrtrader

      Yes, probably. After a strong trending day, ,usually there is a range bound move, like today. Try to find opportunities at extremes on such days.

      URD

      Delete
  2. Great trade as usual. Welcome back to trading arena. Without your updates, I was missing something every day.

    ReplyDelete
  3. Daveji,

    Nice to see you back.

    You have delayed the entry till price moved below DO or the first IRH. After the DO has been breached and a new Range High was formed, can't we discard the old level?

    Thanks,
    S.Karthikeyan

    ReplyDelete
    Replies
    1. SK

      Nice to see you back too after a long time. How is your trading going on?

      I expected DO/IRH to act as a flip so waited for it to get broken on downside. Also there is only 10 point difference between BRN and DO/IRH. It is always better to wait and see how the level acts before we actually act there.
      .
      URD

      Delete
    2. Thanks Daveji,

      See how the level acts before we actually act there. That says it all.

      I have been silently following your blog and other blogs, following price action trading of ST.

      Now I can filter most of the wrong trades. I am sorting out a few issues with marking the Ranges.

      I am yet to make profits on a consistent basis. I have lost big and small since I started trading. Now I have reached Break even more or less. The only direction, I can go from here is towards winning small and big. I am learning a few important aspects of ST's Price action trading everyday and it is only a matter of time, before my account turns Green.

      Thanking you for holding my hand in this journey,

      S.Karthikeyan

      Delete
    3. SK

      Good to know that you have now come out of the losses. You are on your path to success.

      URD

      Delete