Aug 9

Big Picture

RBI announcement Day: No Trades till announcement.

Announcement expect soon

10:52

11:04

Crazy PA

11:19 Surprised to see lack of moment is this a range kind of day ?

Will the prices stay inside the range which are already formed ?

11:34

Possible Trades

11:41 Recognized 4 Ranges

and possible Trades.

11:42 entered from range 3 to Range 2 no rejection seen. Will be careful taking short Trade here.

11:44 feel indecision not able to take call will wait for more confirmation or let let go of this trade.

11:45 As decided will let this trade pass unless weakness in bulls is confirmed.

12:05 Now ranges are clear

12:07 Only Trade I have is short at PDL. Good DP to go short.

12:13 

12:37 For some reason Measure moves keep working again and again :)

With this I think down move has ended. It may consolidate for some time before continue down

Or give us short entry near MSP/BRN.

So wait wait... patience....

12:46

12:56 Seeing 8686 as MSP this could be place to take short trade. 

13:04 something cooking at 85

13:10 Planning to go short here

13:12 Short at 76 will see how 66 DL behave. Ready to scratch if it is not a BO of DL.

13:22 Trade scratched. Looks like Down Trend strength is slowing down.

13:26 Looking to take short trade at BRN or MSP.

13:35 It didn't moved from MSP as expected. So no OF trapped. 

13:37 is it reversal up trend looks strong.

13:39 if this doesn't move up then longs are trapped will be good violent move down. Lets see.

13:48 Longs are failing I see a juicy setup to go short below 8684.

13:49 longs trying very hard to sustin the level and move till 8700.

13:51 Gaining strength. Lets wee how they go from here. If they fail will be good move down.

13:53 Nope(longs) are gaining strength. Bulls plz slow down :)..

13:55 Nope longs are in strong position they will test 8700 for sure.

13:59 Another attempt to go long failed. if there is rapid rejection / Fall will go short at 8683.

Else it could be a channel going up then stay out. hmm

is it a channel ?

14:10 why is that level defended so heavily ?

14:11 If I go by what prices are doing going short below this level of 8683 is a good trade. Not sure why that is being defended. Lets check volume once 

14:13 Clearly bulls have retained this session.

14:13 is BPB a good trade to look at. on the on set it will be a CT trade. so let see if we can get a good BOF near BRN.

I see one Danger channel move to BRN will lead to BW so be very very careful

14:18

3 Ranges and Possible BW what to do ?

14:20 I think only possible good trade is BOF at the MSP lets see. LOL ?

14:23

14:22 Remember there is a strong FLIP at 83 so it has to be a Strong BOF to take short.

14:23 Nope looks like a good BO and it is holding in that range :(. 

14:39 Short at 8698 stop at 8712.

Scratched at -6 pts.

Done for the day..

In Hind sight : Could have avoided that trade took it with FOMO I think. Not sure...
after Thoughts:
If I think about it I did the right thing. This was a BPB which failed. So when short. May be could have waited for Channel to break that is the learning to take from today. Will keep that in mind.