Monday, 9 March 2015

09032015


There was an outside gap down opening for the Nifty today.  After open, it was getting resisted at PDL, thought about shorting there at 8881 as TST of PDL but hesitated and missed the down move.  Then it traded in the narrow range for long time.  There was again one good TST opportunity at the Range High.  Missed it.  Finally shorted on the false break of swing high near Range High.  It moved well as expected.  I was looking to book it at 8792 (budget day low) but could not hold my patience and booked it when it bounced from BRN 8800.
In hindsight there was another good TST later when it tested the Range Low.

It seems the exhaustion gap few days back at all time high is playing out well.

7 comments:

  1. Great trade URD!
    Thanks for the chart. It means a lot for traders like us.

    ReplyDelete
  2. Daveji,

    Was your only trade, a TRAP trade? I could not recognise it in live market.

    Thanks and Regards,
    S.Karthikeyan

    ReplyDelete
    Replies
    1. SK

      Sort of. It was in the range at that time, so not the perfect TRAP setup. I was looking to short at top of the range and at that time, could only get this signal. It was with-trend so took the risk.

      URD

      Delete
  3. Dear Dave

    Thanks for the chart.

    Raju

    ReplyDelete
  4. I gone through your Cheat Sheet ...Its fantastic explanation . Even in this blog you explain your buy or sell logic very well. it easy for many blogger to explain the chart without any actual trading . But you put the trade report which , I think ..Source of Inspiration for many ppl (at least for me) .

    ReplyDelete
    Replies
    1. Thanks for the nice words.

      Please note that I am also in the learning phase and working to improve the trading skills my own way. As you would notice, I missed some good trade opportunities and the exit in the only trade was not good as well.

      URD

      Delete
  5. Good to see you back in action!

    ReplyDelete