Friday, 11 July 2014

11072014


Today I have tried to mark all the possible trades which I could perceive during the day on the chart.
Total 9 trades were possible.  I took only 2 out of them.

Trade C:  BOF of BRN.  I took this trade as I felt it was just stalling at BRN and was not able to break it. FTA DO/IRL was 20 points away.  It broke the FTA and then PDC. Booked it when I suspected it was not going down further. Profit of 43 points.

Missed the Trade E as I went for a lunch.

Trade F:  This also moved well.  Booked when it failed to move down further.  Profit of 32 points.

Among other trades, I think B and E were good tradeable moves whereas A D G H I did not provide good entry point.

10 comments:

  1. Sir,

    Nice review of today's price movement. Among the trades, you have mentioned, I took only E and hesitated and missed C. In addition, I shorted BPB of PDC and got stopped out.

    F can be traded only by few experienced traders, I believe.

    As always, you trades are highly inspiring.

    Have a great weekend.

    S.Karthikeyan

    ReplyDelete
    Replies
    1. SK

      Thanks. Trade F is a FTC and it is with the trend. It was taken on the third failed attempt to break the PDC. I was confident with that trade. Always think of opposite. If it is not able to do one thing, it will do the opposite and here the opposite was the move on the downside.

      You can call me URD or Dave or whatever you like.

      URD

      Delete
    2. Daveji,

      Thanks for the guidance.

      S.Karthikeyan

      Delete
  2. Hi Dave sir,

    First breakout on BRN as not considered as an trade for any reasons.

    Regards
    Arun

    ReplyDelete
    Replies
    1. Arun

      It was a direct BO. I avoid taking direct BO so not considered it.

      You can call me Dave.

      URD

      Delete
  3. Davebhai,

    Would we not go long above 2.27 on failure of LOD and bpb of BRN 7500.. I took that trade it failed miserably..What was the thought process at that time. for you?

    Regards

    Bharat.

    ReplyDelete
    Replies
    1. Bharatbhai

      There is a PDL above it, very close. If you want to take that trade, you can take only on the break of PDL on up side, and it did not break PDL.

      URD

      Delete
  4. Hi URD
    Nice analysis. Infact at the end of trading , I was thinking that market offered many opportunities today.
    I took C and F as marked by you. Thought of taking E but avoided as it was CT.

    Another point, although I have posted a 5 min chart on my blog but I traded using MT4 3 min chart. I can easily feel the difference. I thank you for it.
    I am not able to draw smaller horizontal lines on the chart, that is why I did not post it. Do let me know if it is possible.
    Thanks once again!!

    TBP

    ReplyDelete
    Replies
    1. TBP

      Thanks. 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.

      URD

      Delete
  5. URD, this kind of analysis shall be really helpful... We understand that this is taking your additional time but we appreciate your effort !!

    ReplyDelete