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...

Wednesday, January 12, 2011

12.01.11

60 min chart

The pullback after mid day was swift and closing at 5863 up by 1.9 %.The price has crossed above the resistance of the red Median line.
The positive close will push the prices up till 5950 levels where it meets the resistance of the orange Lower median line parallel.
The down trend is still not negated till firm close above 5950.
Todays high has tested the orange LMLH . If any price fall happens at this levels it will be very fierce and fast just as it went up.
Will be cautious for both counts.
Daily Chart 12.01.11


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