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, December 8, 2011

8.12.2011 Thursday

Intraday 5 min chart posted at 11.30 am

EOD 5 min chart

60 min chart eod

Price reached
1.50 Sma at EOD
2.Equal to a previous swing low at 4915-20 zone.
3.38.2 % R of previous swing move 4639-5097
4. Touched base of Trigger line / Trendline from Pivot through point C of current PF.
This can be considered as support for the fall today.
Price can retrace till 5000 zone to touch the new Blue downsloping pitchfork UMLH which is a good location to reenter shorts.
Targets 4850-4800 zone at the Blue ML.

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