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, December 30, 2013
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Friday, November 22, 2013
22.11.2013 Friday
Snap shot at 10.57 am of 1 min chart.
The downsloping PF from pivot 1 is the major PF defining the downrtrend which is the bias right now.
Morning it has hit the red UMLH, reversed and hit the Median line at pivot 4 and pivot 5.Drawn a PF from pivot 3.Price is moving parallel to the green LMLH and if it tests the red UMLH at the confluence of green and red ML/UMLH and reverses,then there is a setup to short at these levels.
Snapshot at 11.27 am
Price zoomed above the red UMLH.
Snapshot at 12.30 pm
Intraday short on breakdown from magenta channel .
Snapshot at 1.04 pm
A new red Downsloping PF was drawn when the price reached a little higher than Pivot 2 and started falling.It broke out of the channel triggering a short setup.Ideal short entry at test / retest of the UMLH.
Snap shot at 3.07 pm
Price pulled back till the UMLH and the breakdown from the pullback trendline , below minor pivots was a perfect short Entry.Targets at Median line and below Swing pivot was reached.
Snap shot at 3.30 pm
Thursday, November 21, 2013
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