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[akhill]

Taiki,

how do you decide support and resistance levels ? Is there any method for that too in Lance Begg's book ?

p.s: I haven't been through the book yet.

 

[Taiki]

Taiki,

how do you decide support and resistance levels ? Is there any method for that too in Lance Begg's book ?

p.s: I haven't been through the book yet.

They are the levels where price has changed its direction in 30 min time frame

Regards
Taiki

 

[Taiki]

EOD Summary

A good day to start the week, did only 2 trades, but missed one good short opportunity at BOF failure setup at 5520, price fell some 25 good points. But anyway glad to close the day in profit.

Trade 1

NF opened near yesterday's high and the 1st bar itself crossed prev day's high. This was also my BPB setup at 5480. Entered at 5493, Exited at 5515 when NF failed to cross the 5520 on 2nd attempt. Gain in 1st trade = 22 points

Trade 2

Took the 2nd trade when NF took support from its 20 point's side ways range. Entered at 5513, Breakout succeeded at 5520, Exited the trade at 5550, with a gain of 37 points.

Net 2 trades, net gain = +59 points

Regards
Taiki

 

[TraderRavi]

2 sep: very good trades taiki.....:clapping:

 

[Taiki]

Dear Akhill,

Kindly check the below Link.

Lance Beggs: http://forexwinners.net/forex/ytc-priceaction-trader-full/
NickB Method: http://forexwinners.net/forex/advanced-price-action-analysis/

And many more books available regarding Price Action.

Regards,
Jam MD

Thank you brother for posting the links here, I was also searching for the same

Regards
Taiki

 

[Taiki]

Trade Setups for 3 Sept 2013

30M chart

On upside S/R lines are at 5600, 5700, 5760
On downside S/R lines are at 5520, 5480, 5420

3M chart

NF broke out of the 5520 resistance line and now is trading in the range of 5560. The uptrend started from 28 aug is still in the chart though momentum was decreased yesterday.

Global Index Update
US and EU markets closed in green yesterday, Asian markets are trading higher. SGX Nifty is uo by 0.4%. We may see a gap up in NF.

Trade Area
1. BPB/BOF at 5600
2. BPB/BOF/TST at 5520


Regards
Taiki

 

[Taiki]

Damn

 

[godfather]

Damn

Kya hua??

 

[Taiki]

Kya hua??

In the early morning hour fall, I took the short trade at 5530 as per my setup, But due to bad trade execution got out at 5520 with only 10 points in hand, NF later fell to 5480, and I missed them all..

Regards
Taiki

 

[onlinegtrash]

In the early morning hour fall, I took the short trade at 5530 as per my setup, But due to bad trade execution got out at 5520 with only 10 points in hand, NF later fell to 5480, and I missed them all..

Regards
Taiki

never mind... market moved another 150+ pts again!

I skipped the down move after 2pm... as I was scared to give back all morning profits
but still it kept falling!