Tuesday, May 23, 2017

23 - May - 2017 (Nifty)



Market Commentary
10:10 AM: Sharp fall from DO, PDC/PDL/BRN broke and took support from 9380-88 zone where price took stiff resistance earlier. Checked in day chart NF. Will wait for PA at BRN or PDL if some bounce come.

10:58 AM: Suspecting BW formation around BRN (9400). If not, there could be BOF of Shot below 9396 with Initial SL 9407 FTA DL which is 15 points away.

11:20 AM: Ignored BOF of BRN signal as I was expecting BW formation

13:05 PM: Waited for BOF of RH entry, not happened.

14:00 PM: Price broke PDL, but reversed immediately. will wait for swing low formation for short entry

14:15 PM: Trade 1 – BOF of PDL long at 9430 with initial SL 9438, FTA BRN 30 points away

14:40 PM: Moved SL to 9420 as price attempting reversal from BRN

14:54 PM: Moved SL to 9412

14:56 PM: Exited with gain of 16 points

Points earned: +16
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3 comments:

  1. ChiragMay 23, 2017 at 3:29 PM

    Hi,
    Is the BPB of the RH a valid trade?
    https://drive.google.com/open?id=0B6rehnP-s8BEOVk4QTMzbUU5Q2s

    Thanks,

    ReplyDelete
  2. Only NiftyMay 24, 2017 at 10:14 AM

    Chirag,

    I was not convinced that BO will sustain seeing immediate red candle after BO candle.. so i placed short entry, which i cancelled after price choose to move up. Also i have different set of rules in my daily trading plan.. idea is to trade only most prominent trades..you may go through in below link

    http://onlyniftyy.blogspot.de/2016/08/daily-trading-plan.html

    ReplyDelete

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