Friday, 20 June 2014

20062014


Nifty opened near PDC and initial range formed.
1) BPB of PDC IRH:  It did not move well.  Booked it when I felt it was not going up.  Loss of  7 points.
Skipped the TST/FTC at HOD as there were levels below.  It was a good trade to miss.
2) BOF of IRL:  Took it though there were RN PDC above, as I felt it would remain in a range. Scratched it when it got resisted at PDC.  Profit of 1 point.
Nifty whole day traded around PDC RN before breaking down the PDL  Shorts had been more fruitful.

16 comments:

  1. Sir,

    Your first trade was directed into a level which acted as a good resistance yesterday closing session. Is it not necessary to see the price behavior of the previous day?

    Thanks a lot for TRADE SCORE. It must have taken so much of effort and time on your part to understand DP trading and you are offering it to everyone around, without any expectations. Brilliant head and magnanimous head rarely coexist and you are one among the very few exceptions.
    Once again thanking you,

    S.Karthikeyan

    ReplyDelete
  2. SK

    Yes, you spotted it right. That was the FTA. There were few reasons behind it. Origin of the move was a BOF of IRL. It cracked RN PDC and DO, three DPs, on up side. First it traded below DO for a while and now it is trading above DO. Next DP as BRN was the target. However, it did not move as expected. We cannot do anything.
    NF 7575 has been acting as a good resistance. See this,
    http://www.mql5.com/en/charts/2026731/nse-nifty-m3-gci-financial-ltd
    Notice how the levels around 7510 and 7575 NF are acting strong, containing NF in the range (congestion zone).

    Thanks for the comment. I am just a normal human being like you, not any different.

    URD

    ReplyDelete
    Replies
    1. Sir,

      Thanks for your guidance. There was a typing error in my earlier comment. 'Magnanimous head' must be replaced by 'Magnanimous heart'.

      S.Karthikeyan

      Delete
  3. Hi Dave,

    How r u getting 3min charts on MT4?

    Thanks,
    Allwin

    ReplyDelete
    Replies
    1. Allwin

      Please follow the instructions as mentioned here.

      http://charttechnicals.blogspot.in/2014/05/nifty-future-mt4-real-time-charts.html

      URD

      Delete
  4. Hi URD, How you draw small horizontal line on Mt4, Please also assit in obtaining 3 min chart. How it is done.
    I suggest you GLS mt4 instead of GCI. It has a lot of stocks, if not all, and future too.You can have nifty spot and future charts both in it. link follows - http://www.glscharts.com/ and its free at present.----

    ReplyDelete
    Replies
    1. Manish

      To obtain 3-min chart, follow the instructions as mentioned in this post.

      http://charttechnicals.blogspot.in/2014/05/nifty-future-mt4-real-time-charts.html

      To draw any size lines, click on trendline, draw it on chart. Once it is drawn, double-click on it. Then right click on the same, select trendline properties, then click on parameters and untick Ray box. You are done. Hold the pointer on trendline and stretch it with the help of mouse. Make it as you desire.

      Thanks for the information regarding GLS. I track only nifty future and I am comfortable with GCI. But will definitely give GLS a try.

      URD

      Delete
    2. My GCI charts differs with that of real nifty future price. Isn't it with you. Also period converter does not opens with my MT4. Version of both mt4 of mine GLS and GCI is --- version 4 build 625. What is yours?
      Manish

      Delete
    3. Manish

      There will be a difference of 4 to 5 nifty points between real nifty future price and GCI price. It is because of the spread. If you are using GCI MT4, period converter will work. There will not be any problem with version update. Anyway my version is 4 build 646.

      URD

      Delete
    4. Hi URD,
      I found the another way to activate 3 min timeframe--- click ctrl N on mt4, navigator window opens. Then click scripts, a period converter is already present there without any download. Right click on period converter then click execute on chart. Rest process is same as you mentioned on your link.
      But this is an offline chart that does not refreshes. Does your chart refreshes automatically on 3 min.
      Thanks
      Manish

      Delete
    5. Manish

      For live 3-min chart, keep it ticked "all DLL imports". By default, it is untick there.

      URD

      Delete
  5. Hi URD and S. Karthikayan,
    Check mail box please.
    Manish

    ReplyDelete
  6. hi
    how to manage that 4 to 5 points difference while placing order?

    ReplyDelete
    Replies
    1. CM

      Use MT4 for charting purpose and getting the signals only. While placing the order with your broker you need to be aware of this difference.

      URD

      Delete