Jun 6th '20 - Trades till now.

Jun 1st Trades

SBIN

Formed a p-pattern with a LONG entry @ 167.5, SL @ 165.3 and TP @  171.3. R:R - 1:1.73

Price went up to 171.2 and then retraced.

12:21 - SL 168.7
12:37 - SL 170.3
Trailing SL hit @ 12:43
Day Hi 171.4

Balkrisind

Formed a p-pattern with a LONG entry @1129.3 SL - 1119.3 TP - 1154.3 R:R - 1:2.5.  R:R - 1:2.5                                                               

Closed at 3:15pm.
The trade could have been avoided since the candle before breakout candle was not a bullish candle.

The TP was too far on Mar 2nd '20

Jun 3rd Trades

Bergepaint

Formed a p-pattern with a LONG entry @512.3 SL - 508.7 TP - 521.7 R:R - 1:2.5.  

13:08 - SL modified to 509.7
13:54 - SL 512.3
14:20  - closed at 513.45

When I discussed the trade with my mentor, he said that 522 was a wrong TP since there was a resistance around 517 and when I checked it was infact 515-515.4 that was the low of Apr 24th.

Escorts

Formed a p-pattern with a LONG entry @993.3 SL - 984.3 TP - 1004.7 R:R - 1:1.27.  

When I discsussed the tarde with my mentor, he told me that the resistance of 1005 was too far and it was infact in May 2018.

The price went upto 1003 but retraced.

12:40 - SL 991.3
12:41 - SL 994.3
12:54 - booked @ 996.5

Godrejind

Formed a p-pattern with a LONG entry @ 341.3 SL - 337.3 TP - 348.7 R:R - 1:2.11.

13:06 - Booked 80% i.e. 56 @ 349.95
13:06 - SL 345.7 for remaining 14
13:15 - Trailing SL hit

Kotakbank

Formed a p-pattern with a LONG entry @ 1375.3 SL - 1362.7 TP - 1428 R:R - 1:4.18.

13:00 - SL 1367.3
13:46 - SL 1367.7
14:07 - SL 1382.3
14:18 - SL 1392.3
14:38 - Exited at 1424

My mentor was also eyeing this trade at 1379. He was sure that it will fire after 12:30.

Jun 4th Trades

HDFC

Formed a b-pattern with a SHORT entry @ 1794.3 SL - 1807.7 TP - 1771.3 R:R - 1:1.72.

First short trade that I took confidently.

12:03 - was showing some reversal hence squared off @ 1773.6 however it went further down and ow made 1759. Piv was @ 1766

HDFCBank

Formed a b-pattern with a SHORT entry @ 1025.3 SL - 1032.3 TP - 1002.3 R:R - 1:3.29.

11:35 - Started reversing hence squared off @ 1006.7 however it made a low made 992. Piv was @ 999

Indigo

Formed a p-pattern with a LONG entry @ 1064.7 SL - 1053.3 TP - 1114 R:R - 1:4.32.

14:55 - SL 1099
14: 57 - SL 1102
15:02 - Trailing SL hit.

TVSMotor

Formed a b-pattern with a SHORT entry @ 352.3 SL - 355.7 TP - 343.7 R:R - 1:2.53.

Discussed the trade with my mentor and he cautioned that there is good support at that level. I reviewd and found that indeed there was a support at 351.5. The stock did not move below 350 and reversed and hit the SL.

Including the TVS trade, at least 3 trades were not clean. There has to be more effort in shortlisting the candidates which has the "move" potential.

In these patterns the SL is not very deep hence the R:R can be good however its important to judge where the pattern is forming vis-a-vis the VWAP and previous day range (my mentor does not consider the shadows/wicks in the previous day range) and to know if there is ample room for the trade to move i.e. the "Free Trade Area (FTA)".

The patterns are simple. All one needs to do is be aware of the location and the FTA.

The 10 trades have yielded 29% approximately, which is huge.