LONE WOLF's Trading Diary

LW Sir,do you have any fix SL?How much SL generally?

Please drop the Sir, Just call me LoneWolf.

1. I use SL at a mPL against the trade while in trend
2. Keep SL at sideways extremes when taking trade from sideways boundaries.

No Trade Today. Both 15m and 3m was sideways till 14:30, Could not find any clear trade. I thought it will be NR7 day but a strong BO continued trend. 2 Bar move, could not find low risk entry point - swing trader will be happy.

TracerB,meaning of brown line?? is dat days high-luw?

the method is like trading 3min n the direction of 15minute using visual pivats?

its just 3min range within 15 min range ignoring tails - Was looking for BOF long.

For trends, I use light green for Daily pivot/ERL, Orange for 1H and brown for vERL/15m ERL. Small brown lines are to track 3m trend mp/erl

Yes using VP

sbin-5min

Hi Lonewolf & tracebullet Bro
You both are doing good job by posting charts to share your knowledge with fellow traders..
I am a Price action trader, so couldnt stop myself posting a chart..hope i am not interfering with flow of threaad.. I am not senior nor experienced..I am just a student of market..& price action is my most favourite lesson..because I beileive, "har candel kuch kahti hai, we just need to having ear to listen it carefully."
just to share how do i look at that chart..
thanks

Date : 31 May 2016

NIFTY

A range bound session. CLosed with minor loss.



Gap up open near previous day high and sold off to PDL. Intermediate trend was sideways, so trade plan was trade from the intermediate range extremes. 1st LONG was taken on breakdown failure near PDL, Long did not work out, so exited.

A minor sideways started out near PDL, Next SHORT was below sidewasy support, and intermediate trend will turn down, and Long was above sidewasy resistance with expectation of price going higher to intermediate resistance. Price attempted a breakout. where I took the 2nd LONG, but this failed as well, Came out before SL was hit.

After this no more trade, price kept on doing DING-DONG inside the minor sideways range. A breakdown failure was presented in last hour, but could not trade it for no setup was there..

Net 2 Trades, 2 in Loss

Monthly P/L = Loss of 22 Points / Lot

SBIN



Day started out flat near PDC, A minor sidewasy got developed inside the Intermediate sideways range. No Trade on SBIN, as price was not near any trade area. SOH Day.

You are most welcome NiftyTaurus.. Please keep posting.. :thumb:

Date : 1 June 2016



Today could be an interesting day for NIFTY. Intermediate trend is sideways, Minor trend forms a sideways pattern near intermediate bottom. Thrice price has tried to break the low below 8170, but failing. Now upside is expected. SGX Nifty is trading up by 30 points near 8210. A gap up open is expected near intermediate resistance Zone. It will be either a Breakout LONG or Breakout failure SHORT.

Date : 01 June 2016

NIFTY



NIFTY started flat just inside the previous day afternoon range, Broke out the range but headed straight in to the intermediate resistance zone. price action was suggesting weakness in Bulls, So trade plan was to SHORT from resistance. The SHORT worked out well, but got capped near opening range. After that no more trade opportunity as price was trading inside the range, not near any trade area.

Just 1 trade, Got 20 points per Lot

Monthly P/L = Loss of 2 Points Per Lot

SBIN



An awesome day in SBIN. Yesterday's vertical upmove has broken the intermediate sideways resistance. But today minor trend failed to trend above it, rather formed a minor range. A long was attempted when price tried to breakout through the minor sidewasy, but scratched as price fell back in to the range.. SHORT on failure on sideways breakout, and price fell beautifully to intermediate support. Cover SHORT near EOD.. While I was riding this paper trade was only thinking why the hell I did not take it in real..

I hope Tracetbullet must have pocketed handsome return today..