Thursday, 16 February 2017

Nifty and Bank Nifty Future 16022017


It opened within previous day's range.  Without testing the PDL it went up and gave a BPB long setup of DO/HOD/Range High.  It moved well and after that it consolidated.  Range High acted as a strong flip and gave another long setup.


It also opened within previous day's range but tested the PDL and failed to break it.  In that process, pressure play for a long trade setup formed and moved well.  Towards the fag end there was also BOF of Range High which failed.

6 comments:

  1. sir in nifty future why you dont enter earlier as BOF of PDC set up at 11 AM candle...?

    ReplyDelete
    Replies
    1. Anoop

      You have to have a good understanding of how the ranges form along with price action reading to trade with this DP system.
      Here the new range formed and PDC lost its relevance.

      Take the help of Champion Day Trader to understand and master the basic concepts and price action so that it becomes easy for you to trade.

      URD

      Delete
  2. Sir BPB of PDC not considered ?,thnx

    ReplyDelete
    Replies
    1. Amber

      Have a look at the reply to Anoop.

      URD

      Delete
  3. Davebhai,

    Why Earlier days 14.24 high not considered as range extreme while u took the trade. Todays high and yesterdays 14.24 swing high layer over layer forming Range na. What give us confident to enter before range break.?

    ReplyDelete
    Replies
    1. Anon

      HOD was almost at the same level that you are talking about. It made an attempt to break the HOD, then paused, acted almost like a master candle, so now if the high is taken out you can enter. If you wait further, you will miss such setups.

      URD

      Delete