I am not a certified analyst. The charts shown and the content in the blog are for educational purpose only and in no way is a buy or sell recommendation. Readers are advised to use discretion.

Friday 4 July 2014

Intraday Trades - 04.07.2014

Intraday: Mkt was in Ranging mode from last few days with an Up Bias. As Price was in between yesterday's range, waited for it to hit any PDH/ PDL.
1) Short on BPB of PDL. Closed when 2nd push failed down at RL.
2) Long on BOF of BRN as it was in Fluid. It halted at PDL, but BB were clearly bullish. Closed at PDH.
Friday's must be like this to cover full week !!

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2 comments:

  1. Unknown4 July 2014 at 16:53

    Hi Deven
    How do we know that BB is clearly bullish.
    This friday also had to do with the fact that the US markets are closed. So no fear!!

    TBP

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    Replies
    1. Deven Malhotra4 July 2014 at 21:24

      Hi TBP,

      For BB, just look with me as per candles-
      1) After a Big Green candle, 2nd green candle entered in DP zone. My SL was below this candle.
      2) 2nd Red candle made a Tag on Down slopping UBB, which made me think that price has halted here FOR NOW. LBB upwards & UBB downwards was suggesting a probable range. so waited for a while
      3) With the 5th, 6th candles, all the 3 BB aligned themselves upwards. Instead of coming close to the price, UBB turned upwards. This was my clear bullish signal. If it would have been like - some flat MBB/ Downwards UBB/ or flat/ down LBB, it could have been a reverse signal.

      (A Reverse example- when 1st time price touched PDC, it moved up, but after few time, UBB was down closing to the price, MBB flat, LBB up clearly signaling a Range not the continuation of an Upmove)

      Thanks,
      Deven Malhotra

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