29 Sep 2015, Tuesday

 

Market opens full gap down and trading in a tight range of 7720-7740. BO of IRL occurs at 1133 and prices went down till 7708. Thereafter prices pull back to the BO level. Went Short at Pull back as shown in chart Although the BRN-7700 was just near. Exited on SL execution.

 

No other trades taken today due to high volatility. Due to high volatility, my SL will be wider and any loss due to SL execution will impact badly to my account.

14 Sep 2015

 

Market opens within previous days range and just near to PDC(7823) . First candle was a spin candle with high volume of above one lakh which shows a high degree of indecision in the trader. Next candle was a bearish low range closed candle and indicates the BOF of PDC. Prices moved in downtrend without a pullback to PDC and did not give opportunity to enter short at weak pullback to PDC. Prices moved to 7765 and made a IRL at 7765 at Point B. Prices bounced back to test the BRN - 7800 at point C. BO Occurs at BRN and there was an opportunity to enter on pullback of BOF of BRN which I did not took as I was away from screen. Prices again went down to IRL-7765. Prices failed to go lower than the IRL and FTC signal occurs. Long Entry opportunity occurs when prices went above candle E. I did not took the trade as still I was not on screen. Prices went till Point F and did not touch the BRN-7800. Prices again went down and stopped at Point E and resisted to go beyond the point E. This gave me a confidence that bulls are resisting the prices to go down beyond the point E. I entered at 7791 when prices went above point F and was expecting a BO of BRN-7800. Although the entry was late as my SL was below point D i.e. 7765 which was a very wide SL and if prices would have come down then my accounts were in big red. Prices make a good move upside thereafter and a strong up-move occurs in terms of BO of BRN. My Target was the point A (IRH-7830. I exited trade at 7833 when spin candle with big tails appears which shows the weakness in the up-move. I left the screen thereafter as I will have to move for some urgent work.

 

Happy Trading!

05 Aug 2015

 

Market opened within Previous day range near to PDC. First Candle Tried to close the Opening Gap and Closed near its high which shows Bullish Sentiment. Traders tried BO of BRN 7800 at candle A with high volume, but no follow through in the next candle and the volume of next candle was also low. Traders once again tried to BO BRN 7800 at candle B and prices succeeded to close above BRN with high volume and prices make a IRH.

 

Prices then entered in a range and most of the candles were overlapping. I could see the pattern Absorption as mentioned in the Structure and Pattern Book. Entered on the second FTC. Target was PDL whereas prices bounced back from previous swing low. Covered just below BRN

 

Price then BO on BRN 7800. Entered Long at weak pullback test just after the BO candle with low volume. Covered the Position when a spin candle with long tails appear after a strong bullish candle which appears a great indecision among the traders for this price level.