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...

Friday, February 11, 2011


60 min chart - 11.02.11

The bounce came a day later ! The price touched intraday low levels at around 5170 and zoomed up to 5317 high at the Orange LML / Magenta ML as written on 9.02.11 post.

The path ahead could be the dash to 5400 levels if buying comes in from Monday, where it meets the Magenta UML parallel resistance.Can enter longs on zoom up and retest of Orange LML.Target 1 will be 5400 levels and further up at around 5550-5600 levels.

Any sideways movement next week, without reaching the Yellow UML parallel , then further downside towards 5100 levels will be expected.

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