Sunday, June 12, 2016

My new avatar in discretionary trading - Day Trading: June 8, Intraday

Since Wednesday, I have started my next phase of discretionary trading. I do not know how long this phase will last since I am given to system hopping. I hope to update my trades on this blog as well as real-time on twitter. The updates on this blog will be delayed, but I will try to update... until I don't ;)

Nifty Price Action Trades

Trade 1: It was a dull open, and I took the first Breakout Failure of the opening range. The trade failed, but the BOF that followed broke the other extreme of the range went near 8300. The second BOF was also a BOF of Tuesday's swing low, whereas the first BOF had not touched that swing low.

Time to go Short - Live Tweet
Time to go Short - Live Tweet
As the price hovered below 8300, I was planning to short, especially if it touched 8300. Finally, did not take the trade. Price fell and broke the low of the day.

I was not interested in the taking the next Breakout Failure because of the range above.

So, Wednesday ended up as a single trade day.

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