Wednesday, 29 October 2014

29102014


Nifty today opened full gap up of about 35 points.  The first candle acted as MC.
1) BPB of PDH.  Went long above the MC.  It did not move and the price came back.  Scratched at 3 points loss.
I could not find any other good setup to trade.  Price broke the HOD then but after 3 p.m. so not taken.

6 comments:

  1. Daveji,

    When the DO is high of the day, can we take it as IRH? Sometimes, the actual Range High gets established below or above the DO, when retested. So, is it not necessary to wait for further confirmation before taking trades at IRH?

    Thanks,
    S.Karthikeyan

    ReplyDelete
    Replies
    1. SK

      Here the trade was taken as BPB of PDH.on break of HOD then. DO remains high or low of the day 50% of the time, but we cannot trade with that. We trade the range or what looks like the range.. I felt here price was getting accepted above PDH so tried to trade that.

      URD

      Delete
  2. Dear Dave

    Now a days you are using MetaQuotes. May I know your source of real time data please.

    Regards,

    Veer

    ReplyDelete
    Replies
    1. Veer

      The chart is the same, from GCI MT4. Nothing is changed.

      URD

      Delete
  3. Daveji,

    Got your point. Thanks for the guidance.

    S.Karthikeyan

    ReplyDelete