Tuesday, July 22, 2014

22 - 07 - 2014

NF opened above PDC.. IR formed with boundaries PDH & BRN.. traded BPB long above PDH, SAR’ed when it fails to move above RN..  missed fall, as it came after eating my SL.. attempted long after TST of PDH, exited at EOD.



Trade1: (10:14 candle)
Long at 7721, as BPB of PDH.. with initial SL 7718
Moved SL to 7723, break even
Moved SL to 7728, below pullback low
Moved SL to 7735, below next pull back low
Moved SL to 7745, after one green candle above 7750
Trail SL hit; exited trade with gain of 22 points


Trade2: (12:44 candle)
Short at 7745, as BOF of RN.. with initial SL 7752
SL hit; exited trade with loss of 9 points


Trade3: (13:59 candle)
Long at 7724, as TST of PDH.. with initial SL 7717
Moved SL to 7726, break even
Moved SL to 7743, as NF struggling at RN again
Exited trade at 7770, with gain of 44 points

Points earned : +57

3 comments:

  1. Hi RM,

    Any reason you did not take BOF of PDH at 9:26 am or 9:44 am? I took, these trades and got stopped out.

    ReplyDelete
    Replies
    1. AB,

      As i waited for IR formation, i see NF went just 2 points above yesterday high.. then, i considered PDH as 7719.. theoretically, it may not be correct, but we should adopt these kind of tactics to trade safe.

      Also i avoid considering IR for trades today, as i see PDH/BRN are very close by..

      Delete
    2. Ok. Great improvisation.

      Delete