[09:33] Day trend UP; gap up; IR (7984-66);
[10:15] Price unable to move upside, will wait for confirmed weakness below PDH
[10:30] Trade 1: BOB short of PDH short at 7954 with initial SL 7960 (limit order using 1 min chart). FTA 20 points away (PDC)
[10:36] Moved SL to 7952, as PDC broke
[11:00] Moved SL to 7947
[11:24] Exited with gain of 5 points
[12:03] Will look for PA at extremes of range PDH-LOD
[12:11] TVP (Trend violation point) for this down move is coinciding with PDH
[12:57] Trade 2: BOF of LOD/RL long at 7935 with initial SL 7926; will look to scratch if unable break 7945-50 zone
[13:08] Moved SL to 7930 as price struggling to cross RN (7950)
[13:22] Moved SL to 7935, cost & below PB low
[13:48] Moved SL to 7938, break even
[14:03] Exited with gain of 1 point
[14:40] Adjusted lower range boundary to day low
[14:50] BOF of RN short was good entry for short (13:45), i was managing long trade then & BPB of LOD short was too quick; what a fall to miss.. bad luck!
[15:00] No more trades expected; Done for today
Net: +6
Same Trades. Only difference being trade management.
ReplyDeleteFirst Trade# if the Trend was strong PDC should be broken. That didn't happen (better to exit here)if not Make a sure exit when the second push also failed.
This is a range trading system always have the mentality to scalp at range extreme. Hold Trade only when good BO of DP happens.
First trade almost same as yours, it was little difficult to change the mood for long to short now-a-days ,but tried and I got this one. http://screencast.com/t/RLDxrDPBv
ReplyDeleteThanks
Arvind