Wednesday, 18 March 2015

18032015


Nifty opened above PDH but sold off.  First candle was of 50 points so I stayed away for some time.  Then there was a BOF of BRN.  There was no retest of BRN then.  Entered long on completion of complex pullback at 10:38.  Expected some momentum but there was no momentum after my entry.  Lost my patience and scratched it after half an hour. It moved in my favor afterwards without me.  Was not able to trade afterwards.

4 comments:

  1. Thanks Dave,
    Question: Under what circumstances you wait for Complex pullback ?

    ReplyDelete
    Replies
    1. Shashank

      I prefer CPB for with-trend entry, preferably early on in the move. This can be taken if we do not get proper entry at the DP. Today there were few more, one after the retest of PDH, then after the break of PDC on downside and towards the end after the bounce from BRN. Avoid extended or over-extended move.

      URD

      Delete
  2. Hi Dave,

    I am Aristatle recently joined your blog. I have a question, according to your TRADE SCORE, trade need SPACE to move, but your entry is between 8715 to 8720..what is your TP area. I see there are multiple TA such as IRL at 8025, previous Swing High 30, PDC 35.. please share your thought process.

    Thanks,
    Aristatle

    ReplyDelete
  3. Aristatle

    I ignored the IRL. For me FTA was PDC which was 20 points away, so took the trade.

    URD

    ReplyDelete