Seeing the 15min Chart as is.

[jamit_05]

Will post updates on the intraday direction of Nifty. The direction may change as many as 5 times a day.

Will not post profits or losses. It is a distraction enough that they are a part of reality, do not want to exacerbate their effect on trading results by mentioning them repeatedly.

Will use the 15min timeframe. SL is 7 to 12 pts.

 

[jamit_05]

Today the Average true range on 15min chart is the highest in the last several months. Due to this, I hv taken SL below the 5min entry candle.

The intraday Direction is now UP, but my longs have hit stop.

 

[jetking]

Today the Average true range on 15min chart is the highest in the last several months. Due to this, I hv taken SL below the 5min entry candle.

The intraday Direction is now UP, but my longs have hit stop.

fut price is unable to hold above the 1st 15 min candle

so direction is neutral till it trades above 6570

and DOWN,if start trading below 6540

just my view

thanks

 

[jamit_05]

fut price is unable to hold above the 1st 15 min candle

so direction is neutral till it trades above 6570

and DOWN,if start trading below 6540

just my view

thanks

Sure. I will go short below LOD 6526 and Long over HOD 6572. and SL will be less than 10 points.

 

[jamit_05]

A good 100 nifty point correction is likely.
With one SL hit for the day... SOH waiting for HOD or LOD to be challenged.

 

[jetking]

Sure. I will go short below LOD 6526 and Long over HOD 6572. and SL will be less than 10 points.

A good 100 nifty point correction is likely.
With one SL hit for the day... SOH waiting for HOD or LOD to be challenged.

why wait for LOD/HOD to be challenged

once u got confirmation of trend,there are two possible entries

take entry immediately

or

wait for a pullback, to get a better R:R entry

hope i am not poking my nose too much

thanks

 

[jamit_05]

why wait for LOD/HOD to be challenged

once u got confirmation of trend,there are two possible entries

take entry immediately

or

wait for a pullback, to get a better R:R entry

hope i am not poking my nose too much

thanks

As of now, I am out of the game as the long SL was hit. Now I am waiting for the next trigger.

Long above 55
Short below 25

The entry trigger should hv some credibility. It should attract some momentum, so that I can place a stop as small as 7 to 10 points. If I enter at casual levels, then the SL will hv to be kept wide, like at LOD, which is not to my liking. Therefore, I chose to wait for HOD or LOD break. Now the trigger for long is lower than HOD, at 6555.

I take entries at minor breakouts. In that waiting for pullbacks is unproductive.

 

[jamit_05]

Went Short at 33.50; SL 11 points.

I am expecting the LOD to be damaged soon. Else, 11 points is what i will pay.

 

[jamit_05]

The entry turned out to be a weak one, yet I am holding at the initial SL and will try and reduce my risk if I am given the opportunity.

Edit: SL hit.. SOH again.

 

[jamit_05]

SOH.

Punched in orders to enter

long @ 55
Short @ 33