Trading Journal on 2 6 17
DLF sold @ 175.50 Stoploss Triggered @186.85
It was a short Trade. sold at 175.55 at previous low price. sold at pullback after breaking previous low. we expect the stock will go more downside. But the stop hit stoploss at 176.85.
Infy bought @965 sold @971 exit with small profit
infy bought swing low strategy on the expectation of uptrend. stock seemed to formed 1 2 3 pattern.Actually it was a irrational trade.
I the long term chart, The stock was in uptrend for few months. few days ago it formed a double toppattern. Double top pattern generally leads to trend change. But here we can not say the trend is changed because the stock is till trading above long tern trendline. The stock will change it's momentum to downtrend once it breaks the trendline.
In day trading, i bought the stock just above the long term trendline support area. we think that the stock will bounce back from the support line. but it did not happen on the day i bought the stock. It was a mistake from me that it was not a confirmed uptrend.
It was good to buy the stock after 1 2 3 pattern created or swing low. i bought the stock before these pattern completed.
It was a short Trade. sold at 175.55 at previous low price. sold at pullback after breaking previous low. we expect the stock will go more downside. But the stop hit stoploss at 176.85.
The stock was in a consolidation (or Price move with low slope) phase with little downward slop. In this type of chart, Price often break previous day low but that breakout may not go more downside.
In day trading, i bought the stock just above the long term trendline support area. we think that the stock will bounce back from the support line. but it did not happen on the day i bought the stock. It was a mistake from me that it was not a confirmed uptrend.
It was good to buy the stock after 1 2 3 pattern created or swing low. i bought the stock before these pattern completed.
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