HAPPY's Trading Dairy

[Happy_Singh]

Hello

Only one short trade on both NF & BNF, Short from the 2nd bar of the day 9:30 AM

TSL hit on 3:00 Bar, the pull back was sharp taking back most of the notional gains :lol:



Happy

 

[Happy_Singh]

* AFL not available for sharing





Hello

Reading/understanding the Price Action is equally important along with the arrows and the red/blue colors shown by the system.

But even if we have to go only by the signals, filtering them with the inputs from higher time frame improves the performance.


Happy

 

[augubhai]

Hi Happy,

The rejection, failure and confirmation are easy to spot after a few bars or EOD, not when the action is actually happening.

On which bar would you have the taken the entry based on the above price action? Is it the candle that is marked with a down arrow?

 

[Happy_Singh]

Hi Happy,

The rejection, failure and confirmation are easy to spot after a few bars or EOD, not when the action is actually happening.

On which bar would you have the taken the entry based on the above price action? Is it the candle that is marked with a down arrow?

Hello

I am following your rapid fire journal, nice work

In the above case, even if we don't notice the rejections/failures off the bat, the EWS (early warning system gave us a clear indication, creating a doubt on the up move, forcing us to checkout/examine the PA more closely.

On the 10 mins chart that is posted above (even ignoring the rejections/failures) it easy to see the price is making lower highs and lower lows (standard trend change indication), leaving no doubt about the up move not working out.

Add to that the bias from higher time frame is towards downside (still we keep taking long trades, as the reversals payback for the whips)

After the bearish engulf (confirmation) we had about 30 minutes (3 candles) to position our short future / long put trades. The system arrow comes at close of a candle. The entry after the close of this candle (with arrow) is a good one but almost always gives us slippage. So I use it to scale-in if already in, if no initial position is there then try enter near close of candle with arrow.

Meanwhile as i type, on BNF we have a long entry a rejection trade, spotted as it happens


Happy

 

[Happy_Singh]

out of the long, up move fizzles out, good 100+ points run, but poor execution could not catch even 50%

entry was around 12260 above yesterday's low . . . exit should be at the first sign of price stalling

Yesterday's High/Low are good place to keep a watch for failure/rejection trades

Happy

 

[Happy_Singh]

BNF

New high of 12348 in place, now this is the place where good amount of selling came in and the price was pushed back to 12300 levels, those of us who are watching BNF, we all saw it, once the price breaks out and trades above this level we are sure to get a v good trade, no need to keep waiting for the system to show arrows or change of color for that

How do we trade it depends on our temperament, some would already position long with small stops (high RR) some would wait for more confirmation (i will) and the players playing pure break-out will add 20-30 points to the high and place a stop-buy to take the same trade :thumb:

Happy

 

[Happy_Singh]

The bias changed to long on close of 12:40 candle @ 12342

A good long trade

Been reading around on the forum, seems many fishy solicitations going on . . .
Its fun to interact on these threads but its better to avoid them all-together . . .

Better to focus on the trading & broker, etc. related threads or stick to the diaries


Happy

 

[Happy_Singh]

BNF again near reversal to the short side . . .

Looks like a good day to trade ORB in BNF today xx290 - xx360


Happy

 

[Happy_Singh]

Gapping down to support area, after a break-out yesterday is a good place to look for test longs . . .

ORB trade also long now, initial stops below LoD. . .




Market likely to get-into consolidation mode (so looking for small range trades)

For BNF major support on lower-side of the range should be 12150,

Upper edge of the range anyone's guess , maybe June High i.e. 12530.


Happy

 

[Happy_Singh]

Looks like a good day to trade ORB in BNF today xx290 - xx360

ORB trade also long now, initial stops below LoD. . .

Closing 50% @ 12430, (RR of just 1, balance SL @ BE)

reason: selling will again come in the region of yesterdays last session reversal, this band/area should offer resistance to the up move.


Happy