Intraday: Nifty Traded in Initial rang for first few hours. I was waiting for a BOF to go Short or Long. Mkt gave an opportunity at 1 PM.
1) Entered Short below mid BB with a Tgt of Today's low. Closed, when market formed a range below today's low.
2) Market was giving a good Long signal. A close below BB followed by FTC. I was planning to go long. Although, It gave a BOF afterwards but a Tag on LBB after FTC gave a doubt about the move.I was left out for the entire fast move.
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1) Entered Short below mid BB with a Tgt of Today's low. Closed, when market formed a range below today's low.
2) Market was giving a good Long signal. A close below BB followed by FTC. I was planning to go long. Although, It gave a BOF afterwards but a Tag on LBB after FTC gave a doubt about the move.I was left out for the entire fast move.
Sir,
ReplyDeleteWhat do the three pink lines refer to? Please give a small briefing about them.
Do you look at volumes during BOF? If so, how much should be rise in volume to trigger the trade.
S.Karthikeyan
Sir,
ReplyDeleteI think the pink lines refer to the highs and lows of the Ranges through the course of the day. Sorry for having asked a silly question.
S.Karthikeyan
Hi,
ReplyDeleteYes you are right. Pink Lines denote Day's Range. Usually I use following colors (i prefer different color to just think about what kind of traders are there besides these DP- Day, Swing, Positional) -
1) Red Lines for Previous Day H, L, C
2) Blue Lines for BRN
3) Pink Lines for Day's range, H, L
4) Black Lines for Previous MSP in Higher TF like Hourly, Day's or weekly if are present nearby
Sir, Thanks for the clarification
ReplyDeleteToday’s Trend for Nifty
ReplyDeleteBUY NIFTY FUTURES ABOVE 6195 TG-6210/6230/6260 SL-6165.
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