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...

Wednesday, December 1, 2010

Nifty gearing up..

60 min chart

It was a dream move today!!Monday the price was close to the Blue median line.Expected a sideways movement around that line.Tuesday morning there was a good drop and hovered around the long term Lower median line parallel support.The hour bar breaking out thro the blue median line was so strong it indicated of great moves to follow.Added a long position at 5890 NF levels to the earlier position taken at 5780 levels.
On wednesday the path which nifty took was awesome.Exactly on the line i had charted :-)).And it has touched the Downsloping median line .What next?Consolidation and then further upmove towards 6075 levels .
15 min chart

The violet pitchfork was drawn on tuesday to analyse the S / R.The price did stop at the violet median line and zoomed thro the UML /Blue ML and retested the median line at close.Was very positive about the price move.Today the orange pitchfork was drawn and prices stayed above the median line rising steadily touched my target of 5935 / 5960 and then ++....The price has touched the Larger downsloping median line and closed above it.However expect some consolidation or retest of these levels even if there is a strong move tommorrow.

Daily Chart

A beautiful green candlebar crossing the median line !!Stoch reading turned up.Looking out for a very good upmove next few days..

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