Thursday, May 25, 2017

25 - May - 2017 (Nifty)



Market Commentary

9:20 AM: DO above PDC, with in yesterday range. IR (9400-9380) formed above closing range. Will wait for range formation.

10:12 AM: Price broke IR, but failed to sustain. Will wait for one more failed attempt to initiate BOF of IRH/BRN short

10:20 AM: Price sustaining above IRH/BRN now. BPB of BRN long possibility as FTA is 35 points away & expecting short covering rally.

10:40 AM: Trade 1 – BPB of IRH/BRN long at 9408 with initial SL 9398, FTA is PDH 35 points away

10:55 AM: Moved SL to 9404, below swing low

12:04 PM: Moved SL to 9406

12:19 PM: Moved SL to 9409

12:44 PM: Exited with loss of 1 point; 9421-05 is the range formed in last 2 hours, will wait for PA at DH/RH for next clues

14:10 PM: Above PDH, price spiked 30 points in single candle.

15:10 PM: Unfortunately, price rallied 100 points after taking me out.



Points earned: -1
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3 comments:

  1. ChiragMay 25, 2017 at 3:42 PM

    Hi Rose,

    Were you not shaken out, would you have exited at PDH?
    Thanks,

    ReplyDelete
    Replies
    1. Only NiftyMay 25, 2017 at 3:47 PM

      Chirag,

      I would have exited at 3:15PM only, as i move SL below swing lows only after price started moving in my direction. My core strength is in riding trending days fully & core weakness is being sidelined if missed in taking position before big moves happen.

      Delete
    2. ChiragMay 25, 2017 at 4:00 PM

      That's wonderful. Your strength is such which earns you enough to take care of months losses, if any, and your weakness doesn't cost you a dime. Would love to be in that position one day...

      Delete

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