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, March 1, 2011

1.03.11_Tuesday

60 min chart Nifty

The price rally went thro the orange median line today indicating the breakout from Downsloping Median line.The down trend seems to have made the low with the confirmation when the price closes above 5600 + levels.

Daily Chart
The daily bar is what Tim Morge a leading proponent of Median line trading calls as a ZOOM Bar.This indicates the positive momentum built up and the trend change calls for reversal of trades to LONG.
Targets up area at 5670-5700 band at the Upper Median Line Parallel( UMLH)


Trade Plan for next day:

Enter Longs on any minor pullback to the Orange median line at around 5460-5480 during the trading day.
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2 comments:

  1. veerMarch 2, 2011 at 6:59 AM

    Hi Kavima,

    Very good analysis. I think at 5675 Nifty completes "W" pattern which is bearish and I expect Nifty to crash from there. Let us see.

    Regards,

    Veer

    ReplyDelete
  2. KavimaMarch 2, 2011 at 7:22 PM

    Hi veer
    Expect a sideways move/ steady move upto 5700 levels where it can pullback again to 5600 levels( previous parallel swing high )

    ReplyDelete

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