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, December 7, 2012
Price moved out of the magenta PF , through 5900 resistance levels with wide range bars indicating positive momentum holding on.With the recent swing points,the Green Pitchfork drawn leads to immediate resistance level at 6000 + levels for closing long positions based on the price bar action at this zone.Moving below Green median line, retracement supports will be at green LMLH at 5900-5875.
EOD updated chart
Supports at 5875 zone at green LMLH expected for upmove to continue.