Wednesday, 18 January 2017

Nifty Future 18012017


It opened within yesterday's range and started moving up and broke out PDH. By this time it had already moved a lot, so with lot of hesitation took a long trade on BPB setup.  It refused to move and had to scratch it.  Looking at the price action, anticipated a break below PDH.  After waiting for some time, it did eventually break it and moved very well.  At the fag end, did not trade the BOF of DO setup with the expectation of rangebound movement and it did in fact remain rangebound.

8 comments:

  1. Your short trade could not convince me. Are these trades real?

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    Replies
    1. Anon

      Regarding short trade, it was the most easiest trade to take. Have a look at last week's price action. You will find a range high just slightly above the PDH. Now today prices attempted to break out of this range and failed. This failure was the main reason behind taking this trade.

      Regarding believing in my trades whether they are real or not, it should really not bother to you. My making the money or losing money in no way has any impact on you. Rather you should look at the charts and trades presented here from education perspective. You should ask yourself questions when you look at the chart. Why the move started from here, why it ended here, why it reversed, why it stopped moving and started ranging, etc etc. Take the help of all the free stuff that is available. If you want to know more and dig a little bit more and expedite the learning process of understanding the markets, take the help of video tutorial and mentoring program. You can even pose your questions to the daily charts that I post. I never refuse to answer them.

      So everything is here to help you become a better day trader. You just need to put your efforts in that direction without worrying about what other traders are doing.

      Here is the link of my trade book to make you believe in what I am doing,
      http://imgur.com/LBB4yVW

      URD

      Delete
  2. Thanks Uday.
    Same two trades here.
    Thanks for all the help.

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  3. This is to the Anonymous guy.
    I see your comment and smile. Why smile? Because you remind me of myself :)
    2 years ago, I used to doubt in exactly the same way.
    I had no idea how these guys (ST sir and URD and few others) can take these perfect looking trades.
    Are these guys for real? B

    But that was 2 years ago.
    With lot of patience and continued effort of reading Price Action, I can see these trades myself now.
    Well, I still miss few of them, and I am not as polished as others. But, there is no doubt left in me now, that these trades are possible in real time.
    For example, today, I could myself take these two trades in exact same locations.

    So, what is needed is conscious and continuous effort in reading PA. It takes a LOT of time for 'schema' to build in our brain. And we need to have faith in ourselves during tough times.

    Thanks.
    Sunil Manohar

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    Replies
    1. Sunil

      Thanks for commenting and giving the right guidance. All are golden words.

      Glad to hear that you also took the same trades. You have done all the right things that a trader is required to do over the years while understanding the markets and trading. And that is the only way to do. Markets are complex and they will never make it easy for us to understand that complex thing.

      Manzeel to mil hi jayegi bhatak kar hi sahi
      Gumrah to woh hai jo ghar se nikle hi nahi

      URD

      Delete
  4. This comment has been removed by the author.

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  5. Dear Anonymous don't say like this as my observation when he did not trade he never posting..!!

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  6. Thanks to Uday and Sunil for a wounder full reply.. Thanks anon for your comment, which yielded these golden reply..

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