Thursday 25 August 2016

BAR REPLAY - 28JUN16

BIG PICTURE

  • OVERALL TREND IS UP. FOR THE PAST 2 DAYS PRICES HAVE GAPPED DOWN FROM EARLIER RANGE 8100-8300, HAVE TAKEN SUPPORT AT 7950-8000 AND ARE TRADING NEAR 8100.
  • PREVIOUS DAY DAILY CANDLE IS IN RALLY MODE.
  • PDC BRN ACTING AS FLIP. 
  • HIGH PROBABABILITY LONG TRADES - ABOVE PDH, RN
  • HIGH PROBABILITY SHORT TRADES - BELOW PDL, RN.




















TRADING DAY

  • NO TRADES FOR THE DAY. WANTED TO ENTER LONG AT PDH AT 12 PM. THERE WAS NO CLEAR BPB TRADE. DIDNT WANT TO GO FOR BO DUE TO LOW VOLUMES. WANTED TO GO LONG AT RN ABOVE DH, BUT PRICES REVERSED FROM THERE. POINTS +0


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2 comments:

  1. Uday Dave25 August 2016 at 16:16

    Guru

    There was kind of pressure created at PDH in the morning as the prices were just trading just below it and not going away from PDH. Around 12 pm it broke out and pulled back. After that you could have gone long as BPB. Then around 2:15 it again came back at the same location to test it and gave BOF. You could have taken that too.
    URD

    ReplyDelete
    Replies
    1. Guru26 August 2016 at 10:54

      Thanks Uday. It took 30 mins for BPB to be overcome, so was not sure of pressure play.

      Delete

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