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, January 5, 2011

5.01.11 - Nifty short term reversal

Following up on yesterday's 60 min chart,the price crossed 6100 / the minor trendline ,retested it from below and closed at 6078.
60 min chart
Daily Chart 5.01.11

The next levels to look out for is 6005 - 38.2 % R levels from recent swing high.There is a cluster of price bars between 6045 / 5950 and this region can be a good support.

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