A new Life, A new Career, A new Dream - I am a Trader

[403.forbidden]

@403, can you post the link of these charts that are being discussed.

Regards,
Gaur_Krishna

http://imageshack.us/f/855/lfvo.png

http://imageshack.us/f/689/fh94.png

 

[Taiki]

Trade Setup for 5th Aug 2013

30 Min S/R lines

From 30M chart, on upside resistance stays at 5750, 5840 and 5900
While on downside supports are at 5700, 5680, 5620.

3 min Trend

In 3 min chart, the tred remains down with lower high and lower low. Above 5740 previous swing high will be taken out and my 3 min trend will be up. I have to see if price is sustaining above 5740-5750 else it will be mere bounce before continuing the downtrend.

Trade Area

1. Breakout/Breakout failure at 5750.
2. Breakout/Breakout failure at 5840.
3. Breakout/Breakout failure at 5680.

Price is staying in the range of 5700-5800. Break on either direction will decide the future price action.

Task for today

- Trade only the setup
- perfection over entry, SL and trade management
- Hold the profit rather than quick booking, follow TSL approach.

Regards
Taiki

 

[Taiki]

EOD Summary

No trades were done today. Price did come to my setup area of 5750. And breakout fail - reversal setup was there. But I was little sceptical about the fall from there. So did not take the short trade.

Will look for a better opportunity tomorrow.

Regards
Taiki

 

[sachin928111]

do u know reason for being sceptial at that point?

 

[Taiki]

do u know reason for being sceptial at that point?

Yep, it was the sudden upmove from 5700 to 5750 in just 10 min. A trade with tight stop loss could have work, but I just wanted to play safe as my anticipation was a support at 5700 and upmove. So will wait for a better trade confirmation tomorrow.

Regards
Taiki

 

[rajgreenpeace]

EOD Summary

No trades were done today. Price did come to my setup area of 5750. And breakout fail - reversal setup was there. But I was little sceptical about the fall from there. So did not take the short trade.

Will look for a better opportunity tomorrow.

Regards
Taiki

Taiki..........your future is bright..........the person who wait for better opportunity ...........will survive in this market.........You are the long run horse.......:thumb::thumb::thumb::thumb:

 

[DanPickUp]

Taiki..........your future is bright..........the person who wait for better opportunity ...........will survive in this market.........You are the long run horse.......:thumb::thumb::thumb::thumb:

http://i402.photobucket.com/albums/pp106/alanottaplackal/FUNNY-HORSE.gif~original Runs so fast and steady, we not even can see the other two legs.

Dear Taiki: I am just joking.

 

[Taiki]

Trade Setup for 6th Aug 2013

30 M chart

From the 30 min chart, the resistance on upsides are at 5750, 5815, 5840
and the supports on downside are at 5700, 5680, 5620.

3 Min Chart

In 3 min chart, yesterday NF was in a sideways range of 5700-5750, where it has tried atleast once to break both the sides. The declining arrows shows the decrease in strength of bulls, and bears have well protected the 5740 & 5750 level. So I expect a break of 5680-5700 level today. On break of this level it may drag NF to 5620 level. But need to act accordingly if NF shows strength again in upside violating my downward anticipation.

GLobal market updates
US market were down yesterday and so is the asian markets today. SGX Nifty is down 0.7% which supports my premises.

Trade Area

1. Breakout/Breakout failure at 5700-5680
2. Breakout/Breakout failure at 5750

Hoping for a good day.

Regards
Taiki

 

[Taiki]

EOD Summary

A disappointing day.. :annoyed::annoyed:

Took one short trade in the early hour, from which got stopped out through TSL with a profit of 20+ points. Missed the entry during second fall from 5640 to my pre-predicted level of 5620 due to lunch hour. And then came the big disappointment. My order did not get filled at my last trade setup area. i:e Breakout or Breakout failure near 5620. It broke the level and NF fell down to 5550.

Everytime I was thinking "Okay, nifty may not fall more than this level now, Nifty was showing some more fall." And finally what a terrible collapse. nearly 3% down in a single session. Thanks god I controlled my urge to jump into the fall since I had missed my last entry price.

Closed the day with frustration. Did only 1 trade.
Shorted at 5670, Trailing SL hit at 5648. Gain of +22 points

Aisa lag raha he ki Mene KBC mein 5 crore jeeta par paise wahin chod aya :annoyed:

Regards
Taiki

 

[whisky]

Dear Taiki, Don't get disappointed as you are moving in right direction but just take daily note of why you missed what you want today..:thumb:

All the very best