Wednesday, 28 September 2016

Sep 28 2016

One Trade.
Was not comfortable taking reversal trade, Better to call it a day rather than cribbing..

1> Bias is down or Ranging day. 8700 resisted and is a strong DP. we had rejection from there.
2> Price opened below PDC initial move is UP why ? it should have been down
3> BPB trade By Bias is ranging will avoid taking trade.
4> DH Not a strong rejection to short it it could be a channel move to up side.
5> Is that a channel ?
6> Trend  --> Channel move with Trend
      Range  --> Range Extreme (DH is DP)
      DP   --> Not a Strong one previous rejection didn't reach range extreme
      Space --> Till PDH space available
      CM   --> 11:30 - 12:30 tight range all shorts may exit
      OF  --> Exits from CM might give a good move.
7> Why it is struggling may be that is the Channel extreme. It can pullback now to downside of channel will book out and look to reenter
8> Failed to reach the DP buffer space ? Trend is strong should I enter ? hmm hesitated missed..
9> BOF of PDH , but looking at channel and Trend bit risky to shot.
Trend  -- NO
Range  -- MC candle can act as range NO
DP  -- Yes
Space -- NO (no fluid , MSP may act as hurdle)
CM  -- Yes (long)
OF  -- Longs may cover
Risk  -- Above MC candle high risk (NO).
 Hesitation missed closed the day.


  1. Kindly update the two lines drawn before your arrow,i,e there purpose,thnx

    1. Was trying to see if PDC still has some impact. We ignore DP once a new range is formed. But some time they come back to action. Was making sure that was not the case.

  2. shashank,My understanding of PA is Trend is down from past 4 days, but going above previous swing high (swing point) at the point where you entered is change of short term trend and FTA will be PDH. pls share your thought process during the trade initiation.

  3. Updated the blog with thought process take a look.