Monday, 21 March 2016

Nifty Future 21032016


Nifty Future opened above PDH and traded in a range till noon time.  Marked the probable long entry on BOF of Range Low. It was difficult to catch as prices just shot off. But it did give  another chance to enter on BPB of Range High. After that there was no stopping and it closed close to highest point of the day.

6 comments:

  1. HI Dave,
    which data vendor you are using with ami?

    ReplyDelete
    Replies
    1. PAT

      Please go through this for more info on Amibroker.

      http://charttechnicals.blogspot.in/2016/01/free-live-amibroker.html

      URD

      Delete
  2. Sir the BOF @ range low did not form a swing high any reason for buying,kindly update thnx

    ReplyDelete
    Replies
    1. Amber

      As I said, it was really difficult to take that because it did not form swing high. I could not take that trade.

      URD

      Delete
  3. Hi URD,
    What was the reason to avoid BPB in very early third candle?
    Is it valid setup or not?

    More over after MKT open I expect type 1 trend day as Nifty BO of narrow range and BO of higher time frame resistance is it right reading?

    AKS

    ReplyDelete
    Replies
    1. AKS

      In the morning, only the 4th candle gave pullback. So after that PB you can enter above the highest high that it made as a BPB trade.

      There is nothing wrong with expecting something. But it is always important that we wait for proper confirmation before acting on that expectation.

      For me, as I said, proper BPB setup would give me some sort of confirmation that after breaking out it got accepted and followup buying would take the prices higher.

      URD

      Delete