Wednesday, 27 May 2015
Tuesday, 26 May 2015
Today I have made another small video to demonstrate the thumb rule "One of the extremes usually occurs during the first hour of the trading day."
Click here to watch the video. It is actually up to us to maximize the trading gains using this information. How? I welcome your suggestions and ideas.
Today I attempted two trades. First one was BPB of PDL. It was moving well but could not capture this good move, lost most of the gains. Attempted short again at BPB of LOD then. Here hurried to trail the SL to last swing high instead of above LOD then Lost couple of points.
What about shorting at the area marked on the chart?
Today later during the day I am planning to post another small video for the Tricks of the Trade series. Notice today how DO remained the high of the day throughout. It is something about that.
Monday, 25 May 2015
Today Nifty opened below the BO point as marked on the chart and has been trading in a narrow range since morning. Expecting to trade the probable range, 8445 to 8415 or 8445 to 8400, at its extremes. Let's see how it unfolds. Will update soon.
Sunday, 24 May 2015
Today I have made a small video to demonstrate how we can use the thumb rule that "prices move in the path of least resistance" in price action trading. We all know, as a thumb rule, prices most often than not will choose the path of least resistance and we need to keep the same in mind while trading and we need to actually apply it in the trading.
Hope you like it. Please feel free to post your comments and valuable feedback about it.
Click here to watch the video.
Friday, 22 May 2015
I could not trade today, however the following is what I have analyzed. Nifty opened at BRN and broke PDC. There was a good pullback entry possible at PDC as marked. Second entry long could have been taken at Range Low of consolidation. Then there was also one good shorting opportunity at Range High of Spike and Ledge pattern.