Monday, 23 January 2017

Nifty Future 23012017


It opened below PDL.  I waited for the prices to get accepted below it for some time.  It did not get accepted below it and reversed in V shape and moved in a straight line without allowing me to enter in the long trade.  It got resisted at BRN, then failed to break it and presented a nice short trade setup.  It moved well.  At around 2 pm there was a setup to go long but it did not convince me much.  It looked more like a TST setup which I did not prefer to take and missed the up move.

This week expiry is on Wednesday and Union Budget is on 1st Feb.  Expect some volatility.

12 comments:

  1. I entered short on break of PDL after acceptance of price below PDL but as usual punished. This PA reading works only one or two occasion in month remaining trading days it sucks out that profit even makes at end of month in losses at least for me, may be my PA reading is not good.
    when I see EOD chart it appears easy that if range extreme traded then money can be made but in live trading one doesnot know where these ranges forming.This PA reading really skewed duering live trading usually take away SL.I donot know how long does it go

    ReplyDelete
    Replies
    1. Prakash

      Market moves in the morning close to open and for some time after open respond mostly to overnight clues. That is the reason we need to wait and allow the prices to settle after the open. Also prices move with the vengeance in the direction of gap on countertrend gaps mostly and that was not the case today. Also there was no possibility of type 1 trend day. So I don't know what made you take that mediocre trade in morning close to open.

      When you trade only the pattern like in this case bpb of pdl witout having properly understood other factors that move the prices you will fall.

      Markets are complex and it will not make it easy for you to trade. It requires much more to trade efficiently.

      If it is not working for you, stop trading right now and make genuine efforts in the direction of understanding the trading and markets first.

      URD

      Delete
  2. Sir why you dont trade BOF of BRN at 9.57 AM candle.......?

    ReplyDelete
    Replies
    1. Anoop
      Read the article that I wrote on trend reversal. If you still don't understand, I will answer that.
      URD

      Delete
    2. sir what was my fault in that trade ....?

      Delete
    3. Anoop

      Prices do not reverse immediately like that. Prices move and after the move they tend to rest usually.

      URD

      Delete
  3. I entered short on break of PDL after acceptance of price below PDL but as usual punished. This PA reading works only one or two occasion in month remaining trading days it sucks out that profit even makes at end of month in losses at least for me, may be my PA reading is not good.
    when I see EOD chart it appears easy that if range extreme traded then money can be made but in live trading one doesnot know where these ranges forming.This PA reading really skewed duering live trading usually take away SL.I donot know how long does it go

    ReplyDelete
  4. Sir short trade taken is direct BO ?,thnx

    ReplyDelete