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, November 30, 2012
Price near resistance at Warning Line / UMLH of magenta PF.Stochastic at oversold area. A pause / retracement to the 2 day 250 point rally expected.
Support levels at 5805-5775 band within rising magenta PF before an upmove resumes.
EOD 15 min chart
Nifty climbs up relentlessly.. within the upper magenta channel .Target towards 5900-5950 range where it meets the resistance levels of the orange major PF .