Tuesday, 24 March 2015

24032015


Today I came to the screen very late after 2 pm and tried to trade whatever I was able to get. First trade was an attempt to capture the strong rejection from 8650.  Got stopped out.  Again took a chance and shorted the second strong rejection from 8650 without waiting for it to come below PDH.  Luckily got rewarded this time.  Booked it quite early as I had some other engagement.

7 comments:

  1. Good trade. 8650 was an important flip on Daily. Also the impulse wave (2nd leg of the momentum move) stalled at 8650. TST short at Range High @ 8650 on 14:36 PB would also have been a valid trade. Came up with this reasoning post the move. :( Am I on the right track?
    Thx,

    ReplyDelete
    Replies
    1. Anon

      I would have appreciated If I knew your name.

      You are on the right track. Usually one would expect some rangebound movement after such a sharp big up move of 90 points from the low.
      It was towards the end of session and there were few other favorable conditions, so took a chance.

      URD

      Delete
  2. Davebhai,
    Happy to see you back.

    I missed the upmove and down move completely.unable to figure out when to wait for complex correction and entry with traps and whn to take couter trend trades after a strong .move

    Bharat

    ReplyDelete
    Replies
    1. Bharatbhai

      Don't break your head for the moves that you are not able to figure out. Trade only what you are able to clearly figure out. For example, it opened below the PDL but broke the PDL on up side and stalled at PDC. Second candle tested the PDL, third candle bounced back. Now you can go long on fourth candle above PDC as BPB of PDL. It was a good trade and reached to the target BRN. It will be enough if you are able to catch one good move. No need to take four or five trades and catch all the moves of the day.

      URD

      Delete
  3. Dave Ji, You come in market like reserve player of cricket and hit 6 when gets chance :)

    ReplyDelete
    Replies
    1. Anon

      Not every time. I have got more ducks than sixes. But indeed today there were very good tradable moves. Missed those. What about you?

      URD

      Delete