Day Trading Journal - Value Zones
- Thread starter ValueZone
- Start date
NIFTY
Key levels are 4913 and 4970. In between them 4943 is a key support level for continuing uptrend. Also yesterdays high 4989 is an important reference point.
If opens above yesterday's high and comes below 4989 immediately and remains below that level, then the odds may change towards shorts. If open is within 4913 and 4970 and there is no immediate breakout, then long positions can be initiated at the 4943 or 4913 levels.
Key levels are 4913 and 4970. In between them 4943 is a key support level for continuing uptrend. Also yesterdays high 4989 is an important reference point.
If opens above yesterday's high and comes below 4989 immediately and remains below that level, then the odds may change towards shorts. If open is within 4913 and 4970 and there is no immediate breakout, then long positions can be initiated at the 4943 or 4913 levels.
Hello
So far i was posting in vague terms and i think it is difficult to follow. Now I am posting my Daily preparation document in which trades for the day are planned beforehand.
Hope this will be useful to all
• The levels are marked as Buy, Sell or Buy/Sell. At levels marked Buy/Sell you can take long and short trades.
• Trades are executed after two minutes from open, i.e. after 9:17 and usually one trade per day. Only take the first trade that comes after open.
• After open, watch the levels and current price. Only the first trade is executed. If a level says Buy and if price is above that level, then buy on a pull back to that level. If price is below that level, wait for a break above that level, and buy on a pull back to that level. If a level says Sell and if price is below that level, then sell when price reaches that level. If price is above that level, wait for a break below that level, and sell on a pull back to that level. If the level says Buy/Sell, then if price is above that level, buy on a pull back; if price is below that level, sell when price reaches that level.
• Usually only one trade is executed on a day. However if stopped out in the first trade, then take the trade at the next level also. On days marked with Directional sentiment sideways, two trades can be taken, the very first trade and another trade at any of the extreme levels.
• Breakout is determined on the basis of closing price on a 2 minute chart. Close should be clearly above or below the level.
• Do not expect entry at the exact level, execute trades near the levels. SL is calculated from the level, not from the entry price.
Date: 2-11-2011 Symbol: NIFTY Futres
Directional Sentiment: Down SL/target: 12/30
Level Comments
5388 Sell
5367 Sell
5342 Sell
5325 Sell
5285 Sell
5257-5260 Buy
Date: 2-11-2011 Symbol: DLF Cash
Directional Sentiment: Sideways SL/target: 1/2.5
Level Comments
249 Sell
247.50 Sell
240.50 Buy/Sell
236 Sell
232 Buy
You can find more details and example trades at my blog
There is big news from Greece now and US markets are down.
So far i was posting in vague terms and i think it is difficult to follow. Now I am posting my Daily preparation document in which trades for the day are planned beforehand.
Hope this will be useful to all
• The levels are marked as Buy, Sell or Buy/Sell. At levels marked Buy/Sell you can take long and short trades.
• Trades are executed after two minutes from open, i.e. after 9:17 and usually one trade per day. Only take the first trade that comes after open.
• After open, watch the levels and current price. Only the first trade is executed. If a level says Buy and if price is above that level, then buy on a pull back to that level. If price is below that level, wait for a break above that level, and buy on a pull back to that level. If a level says Sell and if price is below that level, then sell when price reaches that level. If price is above that level, wait for a break below that level, and sell on a pull back to that level. If the level says Buy/Sell, then if price is above that level, buy on a pull back; if price is below that level, sell when price reaches that level.
• Usually only one trade is executed on a day. However if stopped out in the first trade, then take the trade at the next level also. On days marked with Directional sentiment sideways, two trades can be taken, the very first trade and another trade at any of the extreme levels.
• Breakout is determined on the basis of closing price on a 2 minute chart. Close should be clearly above or below the level.
• Do not expect entry at the exact level, execute trades near the levels. SL is calculated from the level, not from the entry price.
Date: 2-11-2011 Symbol: NIFTY Futres
Directional Sentiment: Down SL/target: 12/30
Level Comments
5388 Sell
5367 Sell
5342 Sell
5325 Sell
5285 Sell
5257-5260 Buy
Date: 2-11-2011 Symbol: DLF Cash
Directional Sentiment: Sideways SL/target: 1/2.5
Level Comments
249 Sell
247.50 Sell
240.50 Buy/Sell
236 Sell
232 Buy
You can find more details and example trades at my blog
There is big news from Greece now and US markets are down.
Last edited:
• The levels are marked as Buy, Sell or Buy/Sell. At levels marked Buy/Sell you can take long and short trades.
• Trades are executed after two minutes from open, i.e. after 9:17 and usually one trade per day. Only take the first trade that comes after open.
• After open, watch the levels and current price. Only the first trade is executed. If a level says Buy and if price is above that level, then buy on a pull back to that level. If price is below that level, wait for a break above that level, and buy on a pull back to that level. If a level says Sell and if price is below that level, then sell when price reaches that level. If price is above that level, wait for a break below that level, and sell on a pull back to that level. If the level says Buy/Sell, then if price is above that level, buy on a pull back; if price is below that level, sell when price reaches that level.
• Usually only one trade is executed on a day. However if stopped out in the first trade, then take the trade at the next level also. On days marked with Directional sentiment sideways, two trades can be taken, the very first trade and another trade at any of the extreme levels.
• Breakout is determined on the basis of closing price on a 2 minute chart. Close should be clearly above or below the level.
• Do not expect entry at the exact level, execute trades near the levels. SL is calculated from the level, not from the entry price.
Date: 3-11-2011 Symbol: NIFTY Fut
Directional Sentiment: Down SL/target: 12/30
Level Comments
5368 Sell
5342 Sell
5329 Buy/Sell
5272 Sell
5257-5259 Sell
5243 Buy/Sell
Date: 3-11-2011 Symbol: DLF Cash
Directional Sentiment: Sideways SL/target: 1.20/3
Level Comments
247 Sell
240.50 - 241.50 Buy/Sell
234.50 Sell
232 Buy/Sell
226 Buy/Sell
You can find more details and example trades at my blog
• Trades are executed after two minutes from open, i.e. after 9:17 and usually one trade per day. Only take the first trade that comes after open.
• After open, watch the levels and current price. Only the first trade is executed. If a level says Buy and if price is above that level, then buy on a pull back to that level. If price is below that level, wait for a break above that level, and buy on a pull back to that level. If a level says Sell and if price is below that level, then sell when price reaches that level. If price is above that level, wait for a break below that level, and sell on a pull back to that level. If the level says Buy/Sell, then if price is above that level, buy on a pull back; if price is below that level, sell when price reaches that level.
• Usually only one trade is executed on a day. However if stopped out in the first trade, then take the trade at the next level also. On days marked with Directional sentiment sideways, two trades can be taken, the very first trade and another trade at any of the extreme levels.
• Breakout is determined on the basis of closing price on a 2 minute chart. Close should be clearly above or below the level.
• Do not expect entry at the exact level, execute trades near the levels. SL is calculated from the level, not from the entry price.
Date: 3-11-2011 Symbol: NIFTY Fut
Directional Sentiment: Down SL/target: 12/30
Level Comments
5368 Sell
5342 Sell
5329 Buy/Sell
5272 Sell
5257-5259 Sell
5243 Buy/Sell
Date: 3-11-2011 Symbol: DLF Cash
Directional Sentiment: Sideways SL/target: 1.20/3
Level Comments
247 Sell
240.50 - 241.50 Buy/Sell
234.50 Sell
232 Buy/Sell
226 Buy/Sell
You can find more details and example trades at my blog
The levels are marked as Buy, Sell or Buy/Sell. At levels marked Buy/Sell you can take long and short trades.
Trades are executed after two minutes from open, i.e. after 9:17 and usually one trade per day. Only take the first trade that comes after open.
After open, watch the levels and current price. Only the first trade is executed. If a level says Buy and if price is above that level, then buy on a pull back to that level. If price is below that level, wait for a break above that level, and buy on a pull back to that level. If a level says Sell and if price is below that level, then sell when price reaches that level. If price is above that level, wait for a break below that level, and sell on a pull back to that level. If the level says Buy/Sell, then if price is above that level, buy on a pull back; if price is below that level, sell when price reaches that level.
Usually only one trade is executed on a day. However if stopped out in the first trade, then take the trade at the next level also. On days marked with Directional sentiment sideways, two trades can be taken, the very first trade and another trade at any of the extreme levels.
Breakout is determined on the basis of closing price on a 2 minute chart. Close should be clearly above or below the level.
Do not expect entry at the exact level, execute trades near the levels. SL is calculated from the level, not from the entry price.
Date: 4-11-2011 Symbol: NIFTY Fut
Directional Sentiment: Sideways SL/target: 12/30
Level Comments
5388 Sell
5364 - 5369 Sell
5342 Buy/Sell
5329 Buy/Sell
5274 Buy/Sell
5230 Buy
Date: 4-11-2011 Symbol: DLF Cash
Directional Sentiment: Sideways SL/target: 1.5/3.5
Level Comments
249.50 Buy/Sell
247.50 Buy
239 -240.50 Buy/Sell
234 Buy
Trades are executed after two minutes from open, i.e. after 9:17 and usually one trade per day. Only take the first trade that comes after open.
After open, watch the levels and current price. Only the first trade is executed. If a level says Buy and if price is above that level, then buy on a pull back to that level. If price is below that level, wait for a break above that level, and buy on a pull back to that level. If a level says Sell and if price is below that level, then sell when price reaches that level. If price is above that level, wait for a break below that level, and sell on a pull back to that level. If the level says Buy/Sell, then if price is above that level, buy on a pull back; if price is below that level, sell when price reaches that level.
Usually only one trade is executed on a day. However if stopped out in the first trade, then take the trade at the next level also. On days marked with Directional sentiment sideways, two trades can be taken, the very first trade and another trade at any of the extreme levels.
Breakout is determined on the basis of closing price on a 2 minute chart. Close should be clearly above or below the level.
Do not expect entry at the exact level, execute trades near the levels. SL is calculated from the level, not from the entry price.
Date: 4-11-2011 Symbol: NIFTY Fut
Directional Sentiment: Sideways SL/target: 12/30
Level Comments
5388 Sell
5364 - 5369 Sell
5342 Buy/Sell
5329 Buy/Sell
5274 Buy/Sell
5230 Buy
Date: 4-11-2011 Symbol: DLF Cash
Directional Sentiment: Sideways SL/target: 1.5/3.5
Level Comments
249.50 Buy/Sell
247.50 Buy
239 -240.50 Buy/Sell
234 Buy
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