I am not a certified analyst. The charts shown and the content in the blog are for educational purpose only and in no way is a buy or sell recommendation. Readers are advised to use discretion.

Tuesday 4 March 2014

Intraday Trades - 04.03.2014

Intraday: Was Out for the day & missed the great up move.  Though Mkt was bearish yesterday & global clues were also bearish, but Price refused to go below Yesterday close was the first sign of strength. Two trades emerged today, if i would have tried-
1) Long on the BPB, when price crossed the recent Pivot high. No DP in between till PDH. The area was like a Fluid. Price halted at 1 place & at BRN, we could book profits as there were 2 DPs together.
2) Another BPB on BRN. Closing could be done in the last range/ break of MSP.
In last, there seemed a TRAP pattern which didn't worked out.

See MBB is always UP, so no question of short !!


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4 comments:

  1. nifty for bread4 March 2014 at 19:24

    Hi Deven,

    I have always found find it difficult to judge a BO. Boellinger Band seems to be a big help in this regard. I would like to know, whether my understanding of BB is correct.

    When we are taking Long BO trades, (after checking FTA and R:R) if the price is closing outside UBB, it seems to be a high probability BO. Similarly for shorts. It is better to skip BO trades, if price is not closing outside UBB or LBB.

    Your guidance will be highly useful for me.

    Thanks
    S.Karthikeyan

    ReplyDelete
  2. nifty for bread4 March 2014 at 19:40

    Hi Deven,
    I am not sure whether I have conveyed my doubt correctly. I meant to say that BO candles must close outside UBB or LBB to make it a high probability BO trade. Awaiting your guidance,
    Thanks
    S.Karthikeyan

    ReplyDelete
  3. Deven Malhotra4 March 2014 at 20:58

    Hi S.K,

    Yes you are right.. A Close outside BB is a Continuation signal. What i usually do for BO/ BPB is - i wait for a close outside BB & then go Long when Price crosses the High made by that candle.

    Thanks,
    Deven Malhotra

    ReplyDelete
  4. nifty for bread4 March 2014 at 21:56

    Hi Deven,
    Thanks for your guidance.
    S.Karthikeyan

    ReplyDelete

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