Tuesday, 2 August 2016

BAR REPLAY - 03JUN16

BIG PICTURE

  • PRICES ARE IN UPTREND. THEY WERE IN RANGE FOR 3-4 DAYS AND HAVE NOW BROKEN OUT OF RESISTANCE LEVEL 8225.
  • PREVIOUS DAY DAILY CANDLE IS IN RALLY MODE.



















TRADING DAY

  • 10:16 - PRICES OPENED ABOVE PDH AND SINCE THEN HAVE BEEN TRADING IN 10 POINT RANGE AROUND DO.
  • 11:13 - PRICES HAVE STARTED MOVING DOWN. THEY HAVE NOW BROKEN PDH ON DOWNSIDE.
  • 12:04 - PRICES DIDN'T GET ACCEPTED BELOW PDH. PRICES ARE TRADING WITHIN DO AND PDH FOR LAST 2 HOURS.
  • 13:16 - PRICE BROKE OUT ABOVE DO AND MASTER CANDLE HAS FORMED. TO GO LONG ABOVE HIGH OF MC.
  • 13:32 - TRADE NOT FILLED. PRICES CAME BACK DOWN BELOW DO.
  • 15:30 - DID NOT GO SHORT AS THERE WERE LOTS OF BARRIERS IN BETWEEN.

















1 comment:

  1. Guru

    Don't give much importance to levels where prices are able to pierce through without any difficulty. Here PDH and DO lost its relevance because prices traded above and below both of these levels and gave you a big range, HOD to LOD at 1 pm. Focus on these range extremes.

    URD

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