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, January 27, 2011
The price was not supported on the White LML today.The first half hour it retraced into the channel but fell down steadily to meet the Warning lines 1 an 2.Drawing a Blue Median line and parallels,Price has closed at the Blue LML EOD.Stochastics are at oversold level.
Low of thsi swing can be confirmed after higher low bars and price closing above 5 ema.
Pullback till 5680 possible for tommorrow if bounceback rally happens