Friday, 2 September 2016

13 comments:

  1. How you managed this trade Uday. I scratched it after 1 hour. It moved exactly after that.

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    Replies
    1. Shashank

      This trade I bought 8800CE through Bracket order at 107 with SL of 103. Once it got executed and moved in favor some after around half an hour trailed it to breakeven and carried it on. I had to make a decision of booking out at few points or wait for some more time and decided to wait and got rewarded.
      URD

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    2. Sir i also took same trade but my entry price was 110 (MC high) and SL is DL(105) but you entered very early at 107, whats your strategy to enter trade?

      Thanks

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    3. Amith

      I entered when the prices touched the level without waiting for confirmation.

      URD

      Delete
  2. sir,

    How u consider BOF of BRN,PDL by considering Long wick of two green candle?

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    Replies
    1. Prakash

      BOF means breakout failure. Whenever the prices attempt to break a level and fails, it is known as BOF. Now you need to combine this pattern with your reading of prices. Here prices made the first attempt to break BRN around 10 am and failed. At this point, if you want to trade the BOF you can trade based on the pattern but it is not the right thing to do. Later after an hour it comes close to that level and bounces. Third times it comes there, tries to break LOD, BRN and PDL and fails. Now it becomes a good pattern as it attempted to break multiple levels and failed. Now you may look at the volume to confirm whether it was a genuine attempt to break the level. If the volume is good, it may suggest it as genuine. Then you wait for confirmation of BOF pattern and check what it does on retest. If retest fails and prices get accepted above the levels after some time, you can try to enter on break of minor swing point high.
      URD

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    2. sir,
      wonderful explanation, many many thanx

      Delete
  3. Replies
    1. LOL mean layer over layer. It means there are two or more than two DPs are close together. So when the prices fail to break such a strong support or resistance where multiple DPs line up, it can prove to be a good breakout failure (BOF).
      URD

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  4. SIR HERE IN THIS CONTEXT WHICH multiple DECISION POINTS ARE U TALKING abt to form LOL?

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    Replies
    1. Spend some time going through the details presented in this entire blog. There is glossary section for short forms like BOF, LOL, Free education section etc. Not spending your required time and by asking irrelevant questions you waste my time too.

      There are two DPs, PDL and BRN. They are on the chart.
      URD

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