Trade1:
Short at 7560, below PDL BO candle.. with initial SL 7571
SL hit; exited trade with loss of 13 points
Trade2:
Shorted at 7663, as BOF of PDH.. with initial SL 7669
Moved SL to 7661.. break even
Moved SL to 7652.. above BRN
Trail SL hit; exited trade with gain of 9 points
Trade3:
Short at 7694, as BPB of 7700.. with initial SL 7702
SL hit; exited trade with loss of 10 points
Points earned : -14
Hi Rose,
ReplyDeleteAvoided the day .. lets start from tomorrow.
Cheers!
GK
Rose,
ReplyDelete1-I observed that u r placing PDL below the candle, while ST Sir places it on the body of candle, excluding tail, any specific reason? If it will be on the candle body, your 1st trade will be different.
2-As regarding your 1st trade --- why it is a BOF, not a BPB.---- just to clear my confusion. I was wishing to ask this from meny days. If we consider only BOF and BPB ,Isn't it that every trade has both the probability. (youy SAR trade) either it pushes back to create a BPB, to make a buy above BO bar with SL below the bar low, or to go short if price comes below BO bar and then gives a pullbakk to DP, then this becomes BOF. Isn't it?
Manish,
ReplyDelete1. I placed PDL below tails today... as multiple lows made through tails.. otherwise, i generally place on body.
2. Yes, u r right.. there will be both possibilities.. BOF & BPB.. i traded short below low of PDL BO candle, because i was expecting market resume its down move.. similarly, if i have bullish view.. i might go for BPB long, if NF crossed high of BO candle... apart from pattern, we should also consider.. trend, location of DP, order flow etc.. based on these factors, we take decision of whether to go long/short..
Thanks
DeleteHAI ROSE... IT IS NICE... I FOLLOW U THAN ST MASTER... BECAUSE UR SITE IS VERY EASY TO UNDERSTAND...
ReplyDeleteHmm ok, thanks.. hope u r enjoying DP trading :)
Delete