Master one trick only

[guptak03]

hi friends,
there are some minor changes in my strategy,

:- for initial entry the S/R lines remains same,ie. high and low of 1st 3 min candle

in this if i do not get signal near the 1st candle(like today),than i will trade around the
S/R line of 30 min T/F
:- for entry i will be using 1 min T/F,now it has both ,advantage and disadv,
the entry will be early,is a +
S/l,will be close,is a +
chances of whipsaw will be more,is a -
:- some points to remember,when trading around higher T/F S/R lines,
will discuss that along with the trades i take
30 min T/F

...................

 

[avny]

ANALYSIS OF TODAY'S TRADES

there are three S/R lines on the chart,from 30 min T/F,at 5875,5900 and 5936

trade 1:-market opened gap down and had a free fall,and took support at 5875,
ideally,when price approached the S/R line with good down momentum,
i should have waited,for a pullback and then find the opportunity to go short
but the good pin bar tempted me to go long,got 10 points in this trade
trade 2:-gone long again as price came near to support line,again,and there was no
strength in down move,got 10 points
trade 3:- short trade,as price was making lower highs and break below support line
got 10 points
trade 4:- gone short as price was unable to break the S/R line,it was a wrong entry
as the up move from the low of the day was quite strong,and should have
waited for a pullback and a long entry,lost 10 points
trade 5 :-reverse to long

 

[avny]

TRADE 6:-after 5th trade i stopped trading due very low range movement,but then there
was sudden up move which took price to 2nd S/R line at 5900,this up move had a good strength so this time i waited for a pullback to enter long,got 28 points before hitting TSL

trade 7:as price again came back to S/R line of 5900,it presented the oppurtunity to go long as the down move did not had much strength,so went long and followed it with TSL,got 42 points

 

[manjunnovates]

that was clear and fun. can u tell how to draw 30min SR lines. I cud see your SR readings and then correlate in my charts but i cud'nt do it on my own

 

[avny]

 

[avny]

trade today

NF sold at 5998

SL 6005

 

[avny]

trade today

NF sold at 5998

SL 6005

tgt 1 of 10 points achieved


TSL is at B/E

 

[avny]

trade today

nf sold at 5998

sl 6005

tgt 1 of 10 points achieved


tsl is at b/e

tsl 5992

 

[avny]

trade today

NF sold at 5998

SL 6005

tgt 1 of 10 points achieved


TSL is at B/E

tsl 5992

TSL hit

+16 points

there was a good buy at 6004,but did not take,

biased towards short today

took short at 5999

SAR 6005

 

[avny]

i am not sure,that 1 min T/F,which i am following yesterday onwards is better than the 3 min T/F i was following earlier

will decide after this week

meanwhile in 3 min T/F,it was a breakdown fail BUY at 5991 and exit via TSL at 6110

again a sell triggered at 5995