MOVING FILTER:For the NF,put in a moving filter at Rs 14 on the 30min charts.......meaning that we want to trade the breakout on the 5 only if it shows strength enough for us to feel confident enough about that particular trade.Bar 1 high is 4312,Bar 2 high is 4320,Bar 3 high is 4330,Bar 4 high is 4337.........meaning we look on and not enter that trade.What we are looking for is a breakout bar,and not a sad excuse of a bar,with some tails.
Once that first bar is formed,we are basically looking to buy Rs14 over the high of that bar.and short Rs14 below the low of that bar.Once the entry is triggerred,presuming a long has been triggerred,stop loss is Rs 7 below the low of that bar.But only on trigger.
And another thing:We get a breakout,add the 14 to it.....and then trade breaks down,we are back to Rs7 for reversal entry,etc.This Rs14 is only for the trade that comes along with the first bar even if the first trade comes many bars later.Other than that trade,it's all Rs7 all the way.
