Trading Pullbacks, Tradelog

TracerBullet

Well-Known Member
#11
2 trades again today



Again HT short failure in ITC, This was actually against 1H, i didnt see it/ignored it. Only saw the waning 1H momentum. It eventually gave a simple PB that worked ok. ( Didnt trade )
Anyway, These HT patterns are at the edge of mean reversion vs momentum. I will try to be more selective. Also considering exiting them if BO is rejected immediately



Long INFY. This looks extended in 15m but thats due to break from horizontal PA. Gave a decent compression for entry. Most of my entries are turning into 1H patterns and making me wait.
This long worked well. Took some off at 1X and 2X. Aggressively tightened on FT of previous high. The stop was a bit too tight. I meant to exit so thats ok, but plan is to hold through small consolidations as well. So a better exit would be somewhere below the pin bar allowing inside bars esp since i had already taken about 63% position out. INFY gave one more strong leg after consolidation break ( not in chart )

Now a story of this chart for fun in long sentence. This is simple PB in 15m that was at the base of 1H H&T flag, which in turn was a BO of small consolidation in Daily after rejection at lows, and this daily consolidation BO failure and return to range was a failure of weekly PB to turn. Weekly has been struggling to turn for few bars, i guess we are waiting for results tomorrow before moving in either direction.
 

TracerBullet

Well-Known Member
#12


Took one trade today. PB Short BPCL with price breaking out of 1H compression.
1st trade that gave some satisfaction after entry. But that was short lived as price bounced back. Scratched. 1H Symmetric triangle is now a decending triangle as support held. BPCL is in a Weekly PB drive long, this week was an inside bar

Some of the trades that trigger into 1H patterns and work, driving forward towards EOD, can run well into next day. For now, i cannot hold equity overnight, but with futures we can hold part positions accepting gap risk. So the learning phase will be a bit more difficult than earning phase with no overnight gains(or losses :)) and higher expenses

Week ends with -0.2x gross + 0.7x in expenses ( 0.1x per trade approx)
 

TracerBullet

Well-Known Member
#13
3 trades today



Long TS on consolidation above Range. This was within 1H drive and a nice daily compression break at highs. Entry could have been slightly earlier, i was looking at other charts and missed the small candle. This doesnt matter much, but trade stalled below target, earlier entry would probably have T1 hit. I am not getting Target hit often, Its either early exit or price runs away ( well early exits most of the time .. )
Exit on break below small consolidation, In LTF price starting consolidating near lows after good move



Next PB Long in ZEEL, This was witihn 1H PB drive. Daily also looked good with consolidation at range highs and small rejection yesterday. Entry was on break out of small LTF climax. Price should move away quickly after such entry, that didnt happen, quit after tightening TSL. In hindsight it was FT of previous 1H highs, and is now making a possible CPB



Another long in ICICI on consolidation at range High. Had some issue in NOW during the trade with quote freeze and 1 TSL update rejection, moved TSL closer to entry. Trade was looking good but then failed quickly.
I choose this trade over Bharat Financial, that one worked better ... :)
After a few days, i will start using CNC orders for longs so that i can hold till EOD. But this wont be possible for shorts which can only be traded with MIS.

Started experimenting with Relative strength screens for added context. Currently using RS that is weighted towards returns from a HTF(1H) swing period of around 1 day. I think using 15 min swings might make screen too volatile and will maybe clash with my normal scanner.
Plan is to try to pick leaders/laggards on pullbacks. Also look at stocks making big changes in RS.
Another thing to try in future is to compare RS from turning points in Nifty. So if Nifty is UT and making PB, we can look for longs on stocks that are holding well in the PB.
 

LoneWolf

Well-Known Member
#14
3 trades today



Long TS on consolidation above Range. This was within 1H drive and a nice daily compression break at highs. Entry could have been slightly earlier, i was looking at other charts and missed the small candle..
TracerBullet, where this early entry was there as per you ??
 

TracerBullet

Well-Known Member
#15
TracerBullet, where this early entry was there as per you ??
Above the 2nd small red candle, We can enter on break of small LTF compression. Here we still have choice of whether to enter on BO or wait for close but many times ( like in this case ) close is too far beyond the level. I took entry above the 1st red candle.
I still have to decide on exit management when entry is weak in these tight flags. In normal pullbacks i will hold for atleast few bars. But in these HT flags, there is extra risk of snapback on failure.

Keeping entry and TSL orders just within the extremes reduces slippage
 

TracerBullet

Well-Known Member
#16
1 trade today



Short Hindalco on PB, entry below small inside bar. Price breaking down after consolidation BO in 1H.
I was looking to find stock with short setup aligned with small Nifty bias. Took Hindalco after it gave a PB, PB leg was a bit strong but decided to take it based on RS rankings. This one didnt move for long time. Closed at BE after price didnt move in third push. No point staying when price is not moving.

My preference for shorts were reliance, vedl or HDFC. But neither of them gave 15m PBs. Reliance did give a nice small LTF CPB that was visible in 15m. I have only started using Relative strength now, It can maybe used to take slightly more aggressive trades on leaders/laggards through small consolidations. But need to keep some balance.

Axis bank was one of the leaders (long). It held well when nifty fell and rose when nifty consolidated
 

LoneWolf

Well-Known Member
#17
1 trade today

My preference for shorts were reliance, vedl or HDFC. But neither of them gave 15m PBs. Reliance did give a nice small LTF CPB that was visible in 15m. I have only started using Relative strength now, It can maybe used to take slightly more aggressive trades on leaders/laggards through small consolidations. But need to keep some balance.

Axis bank was one of the leaders (long). It held well when nifty fell and rose when nifty consolidated
Yes, AXISBANK was fun to trade today, it held its level quite well when NIFTY was falling. In VEDL I also missed the fall. But there were 2 pullbacks in 15m chart, one near 239/240 level around 11:15 to 11:30 am and then next one is around 1:00 PM to 1:15 PM, near 238.
 

TracerBullet

Well-Known Member
#18
Yes, AXISBANK was fun to trade today, it held its level quite well when NIFTY was falling. In VEDL I also missed the fall. But there were 2 pullbacks in 15m chart, one near 239/240 level around 11:15 to 11:30 am and then next one is around 1:00 PM to 1:15 PM, near 238.
Yes, small high and tight pullbacks, these are actually LTF Simple PBs/LTF Small Complex PBs. They are giving me many failed trades. So, for now, i put restriction on only trading with very good HTF context ( Drives/turns out of HTF patterns like HTF PB/BO etc) and only on 1-2 bar sharp move at start of the move and preferably not overextended.

VEDL had a CT failure test at highs. It was tradeable too as trend was extended but i am only observing FTs until PB plan is clear. I skipped HT PBs as it was CT.

Now also started working with relative strength screen, will have to see if i can relax HT rules for strong leaders/laggards. Today that worked very well with Reliance and VEDL
 

TracerBullet

Well-Known Member
#19
No trade today

After Morning strong open, was looking to go long in Bharat Fin, but that didnt trigger. Later it resumed pullback a bit early without clear trigger so skipped it.
Reliance remained a laggard but skipped aggressive shorts as nifty bias at that time was up, BOF happened later.

ICICI gave nice FT at sideways high. FT is a simple setup, maybe i will start taking these when clear signal shows up ( sideways FT or CT against extended/climactic/exhausting trend). I dont have any scanner for it, so will take it if i notice it.

Finally was looking at YES Bank PB long for long time, It was holding well against Nifty drop, i had no short setups available and this looked good with Daily consolidation breaking out. But finally YB seemed to give up and fell more. Removed it from list. YB stopped failing after i stopped looking :) Some consolidation and PB moved well. Looking back, It was valid long trade.
 

LoneWolf

Well-Known Member
#20
No trade today

After Morning strong open, was looking to go long in Bharat Fin, but that didnt trigger. Later it resumed pullback a bit early without clear trigger so skipped it.
Reliance remained a laggard but skipped aggressive shorts as nifty bias at that time was up, BOF happened later.

ICICI gave nice FT at sideways high. FT is a simple setup, maybe i will start taking these when clear signal shows up ( sideways FT or CT against extended/climactic/exhausting trend). I dont have any scanner for it, so will take it if i notice it.

Finally was looking at YES Bank PB long for long time, It was holding well against Nifty drop, i had no short setups available and this looked good with Daily consolidation breaking out. But finally YB seemed to give up and fell more. Removed it from list. YB stopped failing after i stopped looking :) Some consolidation and PB moved well. Looking back, It was valid long trade.
Are you watching all this stocks simultaneously all the time or watching only those which is filtered by scanner AFL ??
 

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