Friday, 26 June 2015


Today almost after a month had some free time so decided to trade.  Looked at the daily chart as below and found it to be very bullish and decided to day trade preferably on the long side.

Now, today's chart

Could spot few trade opportunities on the long side.
1)  BOF of IRL.  Trade can be taken here when the second time it failed to break the DO and IRL.
2) BOF of PDL.  It was a very good setup, almost a textbook like.  Broke PDL, traded below it for some time, retested the low, quickly got rejected and came back above the flip and PDL.
3) TRAP.  I was there at front of the screen when this pattern happened.  There was a good BOF of probable range or FTC kind of setup. I avoided going short here as I was looking to go long.  Waited for the TRAP kind of pattern.  Once it happened, pulled the trigger at 8381.  It moved well, breaking the Range High and BRN, but could not break the HOD.  Exited at 8401 once I felt it was not going up.

Monday, 1 June 2015

Taking Breakout Trade Near DP

Today again I am presenting to you a small video demonstrating how we can initiate a direct breakout trade near DP after a good consolidation.  Try to take this BO trade in the direction of the bias/trend and avoid going counter-trend till you are comfortable.

Click here to watch the video.