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...

Tuesday, February 8, 2011


60 min chart 8.02.11

Price fell below yesterday's low and has crossed the Orange major Lower Median line parallel at EOD. If price is supported here then tommorrow,market should indicate with a reversal signal bar / price action should move up.

Probability 1:Touches 5288 levels which is close to 161.8 % of previous minor upswing in the morning hour and then moves up.This would be a positive sign.If not ?

Probability 2:Price moves downwards and can reach 5250 levels near to the Magenta pitchfork LML.Further down the targets are 5140 - 261.8 % R level, and then at 5100 at Yellow LML.
As indicators are oversold for the past few days, the bottom is difficult to be pinned down.Will watch out for the LML supports.

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