Wednesday, 14 September 2016

Nifty Future 14092016
















There were four trade setups per system.  If you could read the Big Picture well, then only the first setup would make sense.  I read it like "after the prices reversed from strong resistance 9000, sellers were in full control.  They were able to hold on to their positions and closed around lowest points on Friday and Monday even though there was a weekend and a holiday.  Now today morning it gave bounce and this bounce should be utilized to sell to join the wining party."

Second setup was a typical BPB of PDL which did not move.

Third setup was a sort of minor Pressure Play which moved well before reversing.

Fourth setup was a BOF of HOD which would have ended as a scratch.

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4 comments:

  1. Thanks a lot URD. Plz keep posting as and when you get time.

    ReplyDelete
  2. Davebhai,

    In the first trade you shown , there was not clear failure , how can on consider to go short against morning first bar strength?

    Secondly, The pressure play trade you shown .. we had PDC just ahead of it should we take this kind of Countertrend trades?

    Thirdly why would we avoid BOF OF mornig range at 12.56 as we are expecting today to be range bound day.

    Thanks and Regards

    Bharat

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    Replies
    1. Bharatbhai

      For your first question, it is already mentioned in the post. Please read it again.

      Second question: PDC was not acting as a DP as prices were able to pierce through without any resistance. Here you need to look at the overall setup that emerges. Prices try to break PDL and fails. After that consolidation takes place. So prices tried to move, failed and consolidated. Once this consolidation gets over, we can expect another move.
      Third question, I have already mentioned that setup in the post. Only thing is that it is not shown on the chart.

      Bharatbhai, why are you in so much of hurry?

      URD

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    2. Davebhai,

      Not in hurry .. but i have very weak memory .so try to gather all the information of the day .. and need to repeat it multiple time so that it get engrained in mind.

      I m too weak guy..

      Regards
      Bharat

      Delete