Friday, 26 June 2015

26062015

Today almost after a month had some free time so decided to trade.  Looked at the daily chart as below and found it to be very bullish and decided to day trade preferably on the long side.

https://www.tradingview.com/x/fCBWVsAi/


Now, today's chart

























Could spot few trade opportunities on the long side.
1)  BOF of IRL.  Trade can be taken here when the second time it failed to break the DO and IRL.
2) BOF of PDL.  It was a very good setup, almost a textbook like.  Broke PDL, traded below it for some time, retested the low, quickly got rejected and came back above the flip and PDL.
3) TRAP.  I was there at front of the screen when this pattern happened.  There was a good BOF of probable range or FTC kind of setup. I avoided going short here as I was looking to go long.  Waited for the TRAP kind of pattern.  Once it happened, pulled the trigger at 8381.  It moved well, breaking the Range High and BRN, but could not break the HOD.  Exited at 8401 once I felt it was not going up.


5 comments:

  1. Daveji,

    Good to see you after a long time. Nice analysis.

    Thanks,
    S.Karthikeyan

    ReplyDelete
  2. Can u prove it?????

    ReplyDelete
  3. Thanks URD. Enjoyed reading your analysis.

    ReplyDelete
  4. Anon

    http://imgur.com/K7vlex0

    URD

    ReplyDelete