Thursday, 16 April 2015

16042015


Nifty opened today just above PDC and moved down.  In hindsight, I could spot two good trade setups though there were quite a few more.

One was in the morning, aggressive one, with-trend direct BO of PDL. I would say it aggressive because there was a very sharp fall at the fag end of day yesterday, so one would have expected some consolidation/range bound move (maybe between 8760 and 8800) in the morning session.

Second one was around 2:40 p.m., BOF of BRN 8700 which moved to the target area of Range High.

3 comments:

  1. Hi Dave,

    For first trade..My view is, those who missed the big fall must be waiting to short at any signal. particularly IR.

    Your second trade view is good. I did not catch this.


    I have created my blog and posted my first post. please comment on my second trade.

    http://aristatles.blogspot.com/

    Thanks,
    Aristatle.S

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    Replies
    1. Aris

      Creating a blog is a very good initiative. Wish you very good luck and success.

      I do not trade that way. I do not build up views or preferences and trade on that basis. I trade purely per ST sir's method, without any views, only concentrating on DPs and ranges.

      For your second trade I would say, at the time of your second trade, there was a probable range between 8670 and 8735-40 and you took trade in the middle of that range. I usually avoid trading in the middle of the range.

      URD

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