Nostr Web Client

#Nifty Trade Update

9/8/23, Wednesday

Day ended with 2408/- loss.🔴

End of the day balance = 40373/-

Portfolio: -5.62% 🔻Down

Today incurred big loss in terms of the amount and percentage.

Market opened near yesterday’s closing level at 19577 and keep coning down upto 19472 by 10:20 AM. The fractal pattern was similar to Last Wednesday 2nd August pattern. I bought 19200 PUT near 12:45 PM and it did give a dip and I closed some position in profit, at one time the profit was +850, Just at 19520 there was a Previous week’s close. Market touched that level at 1:45 PM and I kept adding PUT, I was expecting market to reverse by 2 PM but it kept climbing up, I added PUT near 24, 23, 21 & 20.3 but market kept climbing even after 2:15 PM and PUT price went up to 12.

Market cleared PWC level, PDL and even PDC.

The mistake I made was: Market did clear 4H breaker block on monday and now retesting it. The 4H candle closed at 1:15 PM today was also near 4H breaker opening price. There was also a order-block near that level too. I became bearish only because there was a gap at 19435 but that was below the order-block low. That was my mistake, market was clearly ready for a pump and even some CALL option chart was making bullish market structure.

I did not close any of my positions as I was expecting reversal at any time after 2 PM. But my mistake was it was that today was Wednesday. When there was 4H breaker retest and now it is Wednesday then there is a high chance of the reversal. And that happened and market turned bullish as yesterday was bearish and downward movement only.

Lesson :

Do watch big timeframe and check the order flow.

And when Previous week close was not getting respected and market break that level, I should have close my position at that point only.

Images:

Statement

Balance

4H chart

1H chart

15min chart

3min chart

https://nostrcheck.me/media/public/nostrcheck.me_1156136725998908481691575369.webp

https://nostrcheck.me/media/public/nostrcheck.me_9743771721023480891691575369.webp