Intraday Trades - 30.06.2014

Intraday:  A strong Opening drive with first 5 min candle closing at PDH.
1) Long on break of 1st candle. Closed in the range near MBB.
2) A Short on 2nd Hammer on UBB. Closed at RL.
3) A Long on BOF of RL with closed above MBB. Squared off when BOF occurred of Previous RL.

Another Gem - TRADE SCORE

Another Gem of Books written by one of the DP traders - U.R.Dave
He has written it wonderfully. You need to read it after the Decision Points book & everything will be crystal clear. Examples chosen are well explained to understand the process.

So utilize the time .. Go through it atleast 3 times, as Human mind never absorb anything in One Go..

You can download from the below link in the end of the blog -
 http://charttechnicals.blogspot.in/  

Bollinger Bands (BB) - Hammer/ Stars

15 min BB & Hammer, A Big thing for me..

I Like simple things. The thing which have worked 80% of time for me is a Hammer on BB, but the BB should be either on 15 min chart for Intraday or on Weekly chart for Positional trading.
15 min time frame (TF) is what i also keep an eye on in addition to 5 min TF. If I will choose a single rule for Day trading, this is it for me..

But few Ground rules -
1) Context must be Favourable, at least not opposite.
2) It should be a Tag on BB.
3) Hammer only needs to look like hammer, no criterion for 2/3rd close etc. It should just display that Buyers/ Sellers have got active.
4) Colour of Hammer Matters to set Entry & Targets.
5) Do look for Space/ Fluids.

Addons :
1) If  > 1 hammer spotted, Better !!
2) Lesser the number of candles on Left side of Hammer, Better !!
3) If Coincides with DP, Better !!

SL -  2~4 pts below hammer/ any pivot
Exit - As per your rules. My favourite is a Tag on opposite BB in 5 min.

Entry -
1) on Break of Hammer High/ Low
2) If retraced before breaking Hi/Lo, wait till it touches 50% of Hammer, then enter at any Bullish/ Bearish candle.

Now lets see how it looks with examples:-
1) Today's Inverted Hammer coincided with BOF in 5 min. Could be entered at 50%

2) Few days back - 2 Trades with good signals for Intraday

3) Hammers & that too twice on LBB, then a Star on UBB

4) Weekly Chart- Star on LBB , then 2 Hammers, then a Hammer worked. A Star on UBB that didn't work (See, too many candles on left side of Star).

Now Grab some charts & enjoy the weekend. 

Remember, Nothing works 100% &  Not the Car, but Driver wins the Race !!

Intraday Trades - 27.06.2014

Intraday: Mkt was ranging. Tried to go below PDL, but couldn't sustain & came back in the range. 3 Probable trades -
1) Short on BOF of RH. to be closed at the brerak of high of Tag candle.
2) Short on BPB after closing below all the DPs. SL could have gone.
3) A Long on BOF after crossing all DP. Could have got out at minor pivot break on downside.

Intraday Trades - 26.06.2014

Intraday: A Great Expiry for me.. Took 2 shorts-
1) Short on BPB of BRN, PDL in the morning. Mkt ran over the Fluid. Was in Puts & loved to be in it today as was with better RR. Closed at the Hammer formation outside BB. Was planning not to take another trade as mkt could become volatile, but another good opportunity arise..
2) Again a Put on Pivot break after Tag on Ranging BB. Closed at RL..

Not being part of Expiry drama so Closed for today at 2:00.

Couldn't control myself from taking 2nd trade. Will not trade tomorrow & keep my mind in control not to overtrade.. 

Intraday Chart - 25.06.2014

Intraday:  A full Ranging Day. Mkt open below PDC & didn't try to breakout on any side. After initial RH &RL setup, i tried only BOFs with BB touch/ Tag.
1) Long on Hammer on LBB. Closed on Tag on UBB
2) Again a Long on BOF. Closed at Tag on UBB.
3) A Short on BOF with Tag on UBB. Was expecting it to move good & breakout the range. Closed with 2nd candle as hammer..

Intraday Trades - 24.06.2014

Intraday: Nifty Gap up & Moved upwards. Missed the first move. Waited til it formed a range.
1) Long on Breakout of the Range. Closed when it formed a Tag.
2) Short on Hammer on UBB. Closed above DP. Again missed the Upmove due to my last position.
3) Short on BOF of RH. Closed at BRN, when 2nd attempt failed.
4) Long on BOF of BRN. Closed in the end.

Intraday Trades - 23.06.2014

Intraday: Took 2 trades & missed 1. Chart is for July Futures. BB removed for clarity..
1) Short on BOF of PDH. Clsoed at 2nd attempt fail on PDC.
2) A Probable short on TRAP pattern, but avoided due to not enough space.
3) A Long on BOF above PDC. Stopped out.

Intraday Trades - 20.06.2014

Intraday: Two trades today-
1) Long on BOF of RL. Closed at Tag on UBB
2) Short on BOF of RH. Unlucky to get my SL hit in an upswing & the mkt moved down without me.
Some net problem, so no further trade & late updates.

Intraday trades - 19.06.2014

Intraday: I was expecting Nifty to Open Down, but its strong opening made me think of Longs. For few minutes, mkt couldn't sustain above BRN/ RH.
1) Short on BOF of BRN after RL. Closed at tag on LBB.
2) Long on 2nd Good Hammer at LBB. SL hit & was not able to catch the fast move down.
3) Long on BOF of PDL above PDC. Closed on Tag of UBB.
No further trade

Intraday Trades - 18.06.2014

Intraday: Nifty was range bound for initial Session. Many DPs just above, so was not comfortable with the Longs.
1) Took a BOF of PDH, PDC. was not expecting much from it. But price moved in Fluid. Got easy 70 pts in Puts.
Need to leave due to some work, No further trade. Although a BOF of PDL & then a BOF of BRN were 2 more good trades..

Intraday trades - 17.06.2014

Positional: A BPB has occurred on daily chart with a morning star pattern. Once can go long, RR favorable

Intraday: Mkt kept ranging for full day & exploded with a Cigarette pattern.

1) Long on BPB of RH. Closed in the Range with 70 pts.

Intraday Trades - 16.06.2014

Intraday: A Choppy Day. Took 2 trades as BOF-
1) BOF of RL. Closed when it failed to cross PDL.
2) BOF of RH. was a fast move. I was expecting it to break RL, but a Tag on LBB made me out. Both PDL, PDC was crossed few times & i considered RH & RL as Range extremes.
No more trades as waited for Price to break any range extreme & gave a Pullback.

Intraday Trades - 13.06.2014

Intraday: A Good Day for Day traders...
1) Short on BOF of PDH. Closed near BRN.
2) Another Short on BPB of BRN. Closed in the range

Intraday Trades - 12.06.2014

Intraday: A Choppy Mkt. Couldn't get much out of it.
1) Long on break of Pivot after Tag on LBB. Closed at Tag on UBB.
2) Short on break of RH as BOF. Closed in Big green candle at breakeven.
3 & 4) Short on BOF of RH. Closed & Reverse trade at BOF of RL. Closed at 2nd RH

Intraday Trades - 11.06.2014

Intraday: Nifty is not able to stay above PDH for 2 days. Today also, a try failed. A Hanging man, then a Bearish candle on Daily Chart suggests some correction towards 7530.
Took below trades today
1) Long on BOF of PDC above PDH. Closed near RH/ BRN.
2) Short on BOF of RH. A fast move closed near PDC
3) Long on BOF of  RL. Bad Judgement as MBB was down. SL hit
4) Short on Break of Pivot as TRAP. Closed when 2nd push towards BRN failed.

Intraday Trades - 10.06.2014

Intraday: A Fast down move. Couldn't enter initially. A hammer stopped the decline and then a PB occured.
1) Short on break of Hammer low. Closed at another Hammer on BRN
2) Long on BOF of BRN. Closed at PDL
3) Again a Long on BOF of PDL. Closed above PDC.

Intraday Trades - 09.06.2014

Intraday: Nifty Gap up. Bias was positive at all time high. Hesitated a little to take a BOF at the RH/ Top of the dady, but as FTC of UBB occurred, so took it
1) Short on BOF of RH. Closed when it didn't close below Day's open/ RL in 1st attempt.
2) Long on BOF of RL. Closed when RH didn't break.

Intraday Trades - 06.06.2014

Intraday: A Gap Up Day. Bias clearly Up..
1) A Probable long on Hammer on LBB. Could be closed on 2nd RH or day's end.
Will resume trading from Monday onwards.. & will update on my trigger patterns in coming days..

Intraday Trades - 05.06.2014

Intraday: 3 Beautiful trades probability-
1) Short on break of BRN. Few points could be get.
2) Long on BOF of RL. Either BRN break or PDH was a point to get out.
3) Long on break of RH after pullback to PDH. to be closed in big red candle.

Intraday Trades - 04.06.2014

Intraday: Again a Choppy Day to leave.
1) A Probable Long on BOF of BRN.  To be closed, when price crosses PDC back.
2) A Probable short on BOF of Layer on Layer PDH.  To be closed with 10 points only.

Intraday Trades - 03.06.2014

Intraday:  An RBI Policy Day. Not to be traded before 11:00. (BB Removed for clarity). 2 Probable trades-
1) Long when Price failed to sustain below PDH, PDC after policy announcement.
2) Short on BOF of RH. But was touch to take good profit.

Intraday Trades - 02.06.2014

Intraday:  A Very Good day to miss.. There was 1 probable trade..
1) Long on Break of 1st candle & Close outside BB. To be closed at RH.