Wednesday, 16 March 2016

6 comments:

  1. Hi Uday

    I took the first trade but exit the early when prices were not able to breach RN. Second trade was spotted but i was not quite sure as FED News event was ahead today so decided to stay away from market.

    Thanks

    DPT

    ReplyDelete
    Replies
    1. DPT

      It seems you watch the business news channel a lot. Just kidding..
      Leave such things to the analysts. Don't give importance to the anticipated news. As a trader we can trade both ways, before the news is out and once the news is out.

      I have tried to write something about the trend reversal trades. Read it more here,
      http://charttechnicals.blogspot.in/2015/08/trend-reversal.html

      In the fourth point, it says sometimes if a trading range prolongs too much, it is reasonable to expect that it may lead to a reversal.

      Second trade was a classic example of that.

      URD

      Delete
  2. URD,

    1st trade..i was biased towards long seeing pin bars..so missed it..

    How u look at potential trade entries in these kind of setups... You are open for both long and short and ready with limit orders?

    ReplyDelete
    Replies
    1. Rose

      I prefer to enter with limit orders and whenever it requires to place orders for both, like potential BOF and BPB, I put limit orders for both of them.

      URD

      Delete
  3. Hi URD,

    Yes prolonged range leads to trend reversal, i also took but i trade it as direct BO (tight range) and trail till 7509.

    Is it necessary to wait for pull back in this case?

    Thanks.

    ReplyDelete
    Replies
    1. AKS

      I prefer to do that. We need to keep in mind it is still a CT reversal setup where prices have been trading below PDL.

      URD

      Delete