05.12.2017_Nifty_Future_Dec 17

05.12.2017_Nifty_Future_Dec 17

Prices opened within previous days range and BO the PDL. A Low probability BPB entry is generated on first BO of PDL as there was no space for trade to move due to BRN is just below the PDL. Prices rebounds again and again it tested the PDL and given BOF entry as marked. There are two reasons to take this entry on PB after BOF :

1. The PDL was tested second time and failed
2. The Pin type candle at BOF gives a signal of bears strength

I would have taken that entry with a target to BRN with a SL above the first BO Master candle. The target has achieved later. Although, after entry prices has moved near the PDL which gives a questionmark and one could have scraped the trade while trading realtime. If one could have hold the trade, he could have taken the 20 points profit.

Second trade comes when prices gives a BOF entry of BRN which did not fill as the PB does not reaches the BOF Master candle high that is the entry price.

Third trade generated on the BPB long Entry of PDL which has given the good profit.

04.12.2017_Nifty Future_Dec 17

04.12.2017_Nifty Future_Dec 17

Prices opened within previous days range near PDC. Initially prices tries to BO the PDL and failed. BOF entry was generated on PB After BOF. The immediate DP was ORH and BRN-10200. Prices touches the ORH and moved within the tight range at ORH. In later stage, prices tried to BO the tight range high but failed and given a BOF signal.

This is EOD analysis, but in real time, today there is no convince able entry which one can take comfortably as there was no space to move for prices. Effective DP's of the day were PDL, ORH, Tight range high, BRN.

29.11.2017_Nifty_Future_Dec 17

29.11.2017_Nifty_Future_Dec 17

Prices opened within previous day range being an inside day and established the opening range. Prices moved within the range and gives a BOF of ORH. It generated a short entry at PB after BOF with a target to next DP i.e. ORL or BRN(10400).

28.11.2017_Nifty_Future_Dec 2017

28.11.2017_Nifty_Future_Dec 2017

Prices opened within previous days trading range being inside day. First two candles has been a long range bars and decided the ORH and ORL range. Till 1345 hrs prices moved within the range with barbe wired structure and at 1339 hrs, prices gives a BOF Short entry of ORH. The down move was very quick and quite difficult to enter in such kind of quick down move. Further prices BO the ORL and gives a BPB entry which has given 15 points quick profit.

27.11.2017_Nifty Future_Dec 2017

27.11.2017_Nifty Future_Dec 2017

Price opened within previous day range near PDL. First was High range bearish bar and setup a Opening range. Prices moved within the range with barbiwire structure till 1300 hrs. At 1300 hrs prices tried to BO the ORL but fails. It generated a Long Entry, but with Low probabilities bcos of two reasons:

1. BOF was not clear as prices did not closed below the DP on BOF Master Bar.
2. Prices were within the Range since long time with Barbe Wire structure.
3. Also PDL was just above the Entry Level

If prices successfully BO from the ORH than the Traders who were acting within the Barbe wire structure will be forced to exit and there will be a price shoot to next DP i.e. PDH.

An BPB entry generated on successful BO of ORH which goes well till next DP i.e PDH

Selection of Instrument for Trading

As i have read the earlier post of URD in his blog that commodity trading can be an option to aspiring traders who are working in a permanant job becos of below reasons:

1. Commodity Market operates till 1100 PM so we can have a trading session of two-three hours after completing the regular jobs.
2. commodity instruments has mini contracts which can used for trading while learning phase as the risk involved in mini contracts are less which is very much necessary for survival in market.
3. You can continue your learning phase in the time bound manner till the time you succeed.

Therefore i am choosing the Cruide Oil Mini and Gold Mini contracts for my second phase of learning and will continue to use the DP Method as the main focal point.

I will continue to post all my day to day learning on my blog and request to the readers to comment for any improvement.

27.09.2016 Tuesday

Hi Friends

It has been a long time when posted my last blog post. The reason behind this was that i was not able to sustain in Trading using the DP Method. I did not blame this strategy whereas there were many mistakes from my side which lead to the failure of my this term of becoming a successful trader.

Notwithstanding the above failure, i have not given up my spirit of becoming the successful trader and i will continue to strive for that. I have decided to complete few things in the coming days:

1. I am going to read the YTC PAT series again and will make up all my stuff of trading based upon that.
2. Thereafter i am going to read all the posts of Blog of "Nifty Nirvana" and "Chart Technicals" and will then fine tune my already prepared stuff.

When i will complete the above steps thereafter i decide my next course of action.

In between i will continue to post my experiences and EOD charts analysis as per my knowledge and experiance.

Wish all of you Happy and Profitable Trading ahead!