Monday, 20 October 2014


Today Nifty opened full gap up  about 107 points at last two days high.  Expected range-bound movement initially due to this big gap up and Nifty actually traded within the narrow initial range.  Avoided trading direct range BO on upside.
1) BOF of Range High.  It moved well.  Booked at 18 points when it came back into the range at BRN.  Later I thought I exited prematurely though I expected it to remain in the range because trend strength was good, it was holding the flips, I could have waited.
Then later it formed a Bracket around BRN and traded mostly rest of the day within it.
No other trades.


  1. Davebhai,

    Why avoided short reentry below bpb BRN below 1.06 or 1.24.. also please clarify why u not took long above 2.45 on bpb brn as over all trend was bullish?

    I trapped in those trades.

    Thanks and Regards


  2. Bharatbhai

    I exited from the short at 1.06 green candle when it came back into the range. Then two candles later there was a BPB short entry setup. I usually avoid entering immediately into another trade once I book out. So I skipped that.
    I suspected barb wire around BRN later so skipped trades there too.

    To avoid such kind of situation, restrict yourself to one trade per DP. If your first trade fails, suspect barb wire or channel.


  3. Davebhai,

    Thanks a Lot.

    Can you highlight the difference betn 16/10 enttry below PDL bpb where earlier u exited but still u took that bpb entry . and todays entry where u avoided the same.

    Thanks and Regards

    I m unable to take a call.. where to take reentry near dp and where to avoid.

    1. Bharatbhai

      I keep the time difference of 20 to 30 minutes between two consecutive trades. I am comfortable with this approach. I do not trade SAR type of trades. On 16/10 there was time difference of around 45 minutes and it was an entry below PDL. There is always a major shift of sentiment whenever the price crosses PDH or PDL. Today the entry was around BRN and I was expecting it to remain in the range after a big gap up.

      Make yourself disciplined and do not trade again and again at the same DP. In your learning phase, trade only good setups. You cannot trade each and every pattern/setup.


  4. Thanks Davebhai for the new perspective .