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...

Monday, January 9, 2012

9.01.2012 Monday

5 min chart update

60 min chart

The price fell swiftly towards the LMLH zone, crossed it and reached 4690 area.Drawing a downsloping Pitchfork from the minor swing pivots, noticed the price halted exactly near the ML.As per plan entered long , but at a lower level .
The day's action seems to be a steady rise towards the earlier resistance zone.Only point of concern is the steady intra day rise may indicate caution as it has been moving along the LMLH,and would have been happy if the rise had been more faster with momentum and closed higher today.Instead the price is still stuck in the range and we'll have to wait with caution for the next move.

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