August 25, 2015

NIFTY futures intraday charts

- initial bias was down
- previous day's low broke
- buy signal on breakout from rectangle around 7760 F
- cover on close 7900 F

In reality my trading was a bit different and substantially volatile.

Took long in circled area with day's low as SL. Got stopped out - this trade was not necessary at all. In hindsight, a short would have been preferred.

Next trade was long again on breakout from rectangle. This time placed a bracket order for trailing SL as I had to go for a funeral in market hours. Got stopped out again in minor profit as SL was too tight.

Looking back where I went wrong - the first signal was not a buy at all and while the second was valid, I should have kept a much much deeper SL. I am still thinking as per old volatility whereas yesterday/ today a 100 point move in 10 min is the new normal!

No comments:

Post a Comment