Trading Pullbacks, Tradelog
- Thread starter TracerBullet
- Start date
1 trade. Break over, this week will look at making initial trading plan to trade with nifty bias
Long ICICI. Nifty broke out of 2 day range today, so look for BO mode trades.
ICICI was RS leader and showed a decent HT PB within drive from 1H PB. I will experiment with cancelling such aggressive trades if BO bar is weak. If initial break is good then will give space and trail behind.
Price didnt move so scratched it. Price hit T1 and then stalled around it.
Later, with nifty not moving, looked for midday failure tests, but range was tight and no stock in my list gave any breakout. Skipped long trades in afternoon as NF was not in long bias yet after fall.
Waiting for bar close is not as relevant in intraday as in daily since close time depends on TF, but i will try to wait for 1-1.5 candles. If close is weak i will either exit immediately or tighten close to entry depending on how LTF looks.
Long ICICI. Nifty broke out of 2 day range today, so look for BO mode trades.
ICICI was RS leader and showed a decent HT PB within drive from 1H PB. I will experiment with cancelling such aggressive trades if BO bar is weak. If initial break is good then will give space and trail behind.
Price didnt move so scratched it. Price hit T1 and then stalled around it.
Later, with nifty not moving, looked for midday failure tests, but range was tight and no stock in my list gave any breakout. Skipped long trades in afternoon as NF was not in long bias yet after fall.
Waiting for bar close is not as relevant in intraday as in daily since close time depends on TF, but i will try to wait for 1-1.5 candles. If close is weak i will either exit immediately or tighten close to entry depending on how LTF looks.
1 trade
Was looking for FTs in slow day before IR event, Took FT ICICI long
Price stalled and took long time to trigger entry. That is a problem since FT should show quick rejection but took it looking for good LTF BO and ready to exit if it stalls more. Allowed retest after break but then it stalled again in LTF. This may not be enough reason to exit normally but the trade was already suspect, so quit through limit order when it didnt move.
Hopefully Nifty will move more now ..
Was looking for FTs in slow day before IR event, Took FT ICICI long
Price stalled and took long time to trigger entry. That is a problem since FT should show quick rejection but took it looking for good LTF BO and ready to exit if it stalls more. Allowed retest after break but then it stalled again in LTF. This may not be enough reason to exit normally but the trade was already suspect, so quit through limit order when it didnt move.
Hopefully Nifty will move more now ..
1 trade
Early morning, Nifty gave nice FT of previous High. I was looking for shorts. Good FTs have some overextension in their approach to SR rather than a steady trend. HDFC looked good, but it took time for rejection. It was not moving and Nifty had already moved. Wasnt sure whether to take it, skipped and it moved very well.
So, i am trying to trade patterns aligned with Nifty, but they will probably not trigger together most of the times. Some will trigger earlier, some will move later. I think there is no need to look for too much perfection, esp intraday.
I will take trades around Nifty pattern/bias that may trigger slightly earlier or later and try to manage it. A FT can be taken after Nifty FT has moved( not before as Nifty may breakout ), a PB can be taken before Nifty once setup leg is done.
Took TS short out of pullback. TS was RS leader in shorts, 1H has made a strong leg against trend which in turn is moving from a '3 tight pushes' exhaustion pattern in Daily.
Finally a trade that moves quickly to target. Took 1/3 out at T1 and exit rest after failure to break earlier low.
Nifty did small v reversal from the highs but found support, price may compress around the extremes after v reversal, lets c ...
Early morning, Nifty gave nice FT of previous High. I was looking for shorts. Good FTs have some overextension in their approach to SR rather than a steady trend. HDFC looked good, but it took time for rejection. It was not moving and Nifty had already moved. Wasnt sure whether to take it, skipped and it moved very well.
So, i am trying to trade patterns aligned with Nifty, but they will probably not trigger together most of the times. Some will trigger earlier, some will move later. I think there is no need to look for too much perfection, esp intraday.
I will take trades around Nifty pattern/bias that may trigger slightly earlier or later and try to manage it. A FT can be taken after Nifty FT has moved( not before as Nifty may breakout ), a PB can be taken before Nifty once setup leg is done.
Took TS short out of pullback. TS was RS leader in shorts, 1H has made a strong leg against trend which in turn is moving from a '3 tight pushes' exhaustion pattern in Daily.
Finally a trade that moves quickly to target. Took 1/3 out at T1 and exit rest after failure to break earlier low.
Nifty did small v reversal from the highs but found support, price may compress around the extremes after v reversal, lets c ...
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No trades today
Nifty again gave FT early morning. There was a corresponding FT in Bharat Fin. Ignored it as Nifty was making Higher lows and because Bharat Fin was breaking out of a Daily flag after long tight compression.
Nifty FT moved well and broke the recent low. At this point BO base was possibly failing, looked for short PB but didnt find any clear setup + trigger. Nifty bounced back, long PB in yesbank did well but i ignored it looking for shorts.
Nifty is still in a 15m BO base with new sloping SR. Long BO from base, if it happens, will also be a daily HT BO. But these multiple small FTs are perhaps taking some of the BO pressure away ..
Nifty again gave FT early morning. There was a corresponding FT in Bharat Fin. Ignored it as Nifty was making Higher lows and because Bharat Fin was breaking out of a Daily flag after long tight compression.
Nifty FT moved well and broke the recent low. At this point BO base was possibly failing, looked for short PB but didnt find any clear setup + trigger. Nifty bounced back, long PB in yesbank did well but i ignored it looking for shorts.
Nifty is still in a 15m BO base with new sloping SR. Long BO from base, if it happens, will also be a daily HT BO. But these multiple small FTs are perhaps taking some of the BO pressure away ..
No trades again
Price is still compressing within the vertical reversal move on Wed-Thursday, making smaller compressions within it. Maybe can look at using credit spreads during such phases in distant future.
Didnt get any clear simple PB or FT trade. Oil stocks moved well today.
Sooner or later volatility will increase. Have to be ready for a strong move out of this tightening range.
Price is still compressing within the vertical reversal move on Wed-Thursday, making smaller compressions within it. Maybe can look at using credit spreads during such phases in distant future.
Didnt get any clear simple PB or FT trade. Oil stocks moved well today.
Sooner or later volatility will increase. Have to be ready for a strong move out of this tightening range.
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bhai, most traders, using different methods, have similar views that it is getting ready for a strong move out from this tightening range. But what about the probabilities of the DIRECTION in which this move could be ? Is your method showing some signs of any directional bias, or if it is 50:50 type situation, according to your method ? This tight range has already caused a few traders to kick their computers in TraderRavi bhai thread - http://www.traderji.com/derivatives/89068-day-trading-nifty-stock-futures-2420.html
Thanks and regards
Thanks and regards
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