Trading with Median lines is a system and a leading indicator suitable for Swing trading.I am following this strategy for Nifty and Bank Nifty with good results.Those interested to trade with Charts and Price action to analyse target price, support and resistance levels will find this strategy very interesting.

Feedback welcome!Happy trading...

Thursday, November 4, 2010

hour and 5 min charts with median lines

Hour chart with previous swing highs marked for projecting resistance levels

5 min chart.schiff lines from previous waves are marked in green.My pivots are marked as A,B,C,D,E.schiff line from AB gave the target at D.
Current Median line is drawn from B through CD .At median line price has zoomed thro and the target is now the Upper median line.Levels at range of 6325 .this is fib proj levels of prev wave also.

Will close my positions taken at 6147 - NF and wait to see the action around UML and any pull back to median line.

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