Trade Journal on 31 5 17

31-5-17

Adani Ports sold @ 338.60 Stoploss @ 343
Trade was a mistake sold  on the basis of higher high lower low. But actually it was not confirmed pattren of higher high lower low. high-Low.At least oneNCADANIPORTS 31 5 17.jpg

Mistake - it was not a clear Higher high Lower Low Pattern
Conrrection - Correctly Identify the Higher high Lower Low Pattern

Ambuja Cement  - Bought Above Resistance or Previous High
ambuja 31 5 17.png

Stock bought above resistance that is above previous high and hit stoploss 241.80 level
Mistake - Stock was in a sideways movement but only little  upward slope. There should be clear breakout to enter in the trade especially in sideways market.
The stock price with little upward slope. More chance to break previous high but it will be failed to go upside.Because the stock is in little upward movement

BPCL Bought @742 Sold 744 No Profit No Loss
bpcl 31 5 17.png

Strategy was to but Higher High Higher Low but failed to go upside in the day. The whole market is in sideways movement

Cipla sold @ 508.70 Stoploss hit at 516
cipla 31 5 17.png

Stock was in downtrend 2 days back. And retracement little. Again at the point i short. The stock seemed to be in it’s continuation of it’s downward movement. The stock Short at previous days low. But failed to go down because the breakout was not clear

Comments

Post a Comment

Popular posts from this blog

How to Confirm a Trend Change. Method to identify momentum change

Image
Condition 1 From down trend to Uptrend, At least one higher Low is essential for trend change. And followed by Higher High will confirm the trend change Condition 2 From down trend to Uptrend, Last Lower high in downtrend should break to confirm the trend change.(In the above picture, LH  Just before the Last LL ) Condition 3 1 2 3 PATTERN OR SWING LOW PATTERN CAN BE USED TO IDENTIFY MOMENTUM CHANGE Condition 4 Use trendline Break with above rule together for true result By checking and ensuring the above condition whether the conditions are met or not met will help you to identify the trend change. we ca not get to the conclusion with only one condition above. for example, we can not say that trend has changed if the trendline is breaked
Read more

Trade on Trends and Trade Against the Trend Pros and Cons

Image
Price is always trending. When the price trends or move in a direction, it provides the opportunity to trade. "Understand well the which direction is the price is trending or Moving" is the first step to the success. These major price trend or price movement, whether it is up or down, creates trading opportunities on both direction. IE. In A trending market, it gives 2 side trading opportunity. Trade on the direction of major trend Trade on the Opposite direction of trend Price moves by waves creating swing lows and swing highs (Higher high Lower Lows). Here we know that the Trading on the direction of trend is more easier and smoother than trade against the trend. Below picture shows it more conveniently In the above Picture, Price is moving downwards that's why the major trend is to down. Eventhough the trend is down it felicitate trading opportunities on both side. Trade on Trend and Trade Against the Trend. The Point 1,3,5,7 are the shorting trade poi...
Read more

When High Volume happen. Analyzing Lagre Large Volume and it's physiology

Image
Often we can see Large Volume at a given price level or given time frame. We examining below.Correctly Analyzing and Identifying both types of trading activities will help you more in trading. How many method (types) Large Volume take Place In which types of situation large volume happen Where large volume in a chart happen Candlestick types in both types of large volume Decoding Physiology of volume in in different market time. First 5, 15, 45 minute and Last 30 Minute, Between 11:00 to 3:00 pm How The Large Volume Effect the Price Movement. How many types Large Volume take Place Large Volume take place in two way. We classified it on the basis of the Number of Traders.           1 . Single Trader with Large Volume - One or two or a few traders Bidding Large Quantities at a given price level.           2 . Multiple Players have same Conviction - Few or more institutional or smart money, who trade with huge volume, will ha...
Read more