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, December 30, 2010

Nifty charging up..

Morning moves were within a range but last hour Nifty really charged up to reach 6100 levels.
Positive moves expected for the new series from tommorrow towards the higher targets.
Daily Chart 30.12.10

5 min chart 30.12.10

Studying the movement in 5 min chart , the prices are moving up wihin the ascending green pitchfork.The price reached very close to the median line at C and this point corresponds close to 1.382% fib levels of the previous swing AB.Fib levels work very well with median lines to project / confirm target levels.

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