Nifty Entry ,Exit ,Target levels with Median Line Charts
- Thread starter Kavima
- Start date
- Tags median lines nifty levels nifty targets pitchforks trading strategy
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5 min chart showing resistance at ML with intraday double top.
Targets at points marked with orange arrow.
[/URL] Uploaded with ImageShack.us[/IMG]
Targets at points marked with orange arrow.
5 min chart showing resistance at ML with intraday double top.
Targets at points marked with orange arrow.
[/URL] Uploaded with ImageShack.us[/IMG]
Targets at points marked with orange arrow.
price moved into the lower channel but retraced to test the intraday high...and fell again to test the target level at 4730......
(As was not available could not monitor position - My intraday short position - missed my first target by a whisper and stoploss was triggered due to retest of the ML :annoyed: )
But the resistance at Median line was strong to fall fast after it touched it again creating a double top at 4785 zone..
4.01.2012 _Wednesday
60 min chart
Price met with resistance at the Median line at 4785 zone .Today's move was more of a consolidation day in a wider range after the huge rally.The range formed today is between 4780-4730 zone which is what we'll have to watch out tommorrow.
Two scenarios are probable
Scenario 1 ( marked in red and green arrows) - price moves further down towards the Green and red LMLH at around 4700-4690 zone, takes support and gears up for an upmove towards 4850-4885 target.
Scenario 2 ( marked in blue arrow)- The momentum continues upwards.This will lead to resistance again at 4800-4840 zone where earlier we have many swing tops.The effect would be some minor retracement before climbing up again.
Both the scenarios will get negated if we fall below the red lower channel at 4690 zone.
60 min chart
Price met with resistance at the Median line at 4785 zone .Today's move was more of a consolidation day in a wider range after the huge rally.The range formed today is between 4780-4730 zone which is what we'll have to watch out tommorrow.
Two scenarios are probable
Scenario 1 ( marked in red and green arrows) - price moves further down towards the Green and red LMLH at around 4700-4690 zone, takes support and gears up for an upmove towards 4850-4885 target.
Scenario 2 ( marked in blue arrow)- The momentum continues upwards.This will lead to resistance again at 4800-4840 zone where earlier we have many swing tops.The effect would be some minor retracement before climbing up again.
Both the scenarios will get negated if we fall below the red lower channel at 4690 zone.
Last edited:
Beauty of you analysis is this only,
Point to point explanations....
Keep it up bro,
Have a nice Trading day ahead,
Darshan
Point to point explanations....
Keep it up bro,
Have a nice Trading day ahead,
Darshan
4.01.2012 _Wednesday
60 min chart
Price met with resistance at the Median line at 4785 zone .Today's move was more of a consolidation day in a wider range after the huge rally.The range formed today is between 4780-4730 zone which is what we'll have to watch out tommorrow.
Two scenarios are probable
Scenario 1 ( marked in red and green arrows) - price moves further down towards the Green and red LMLH at around 4700-4690 zone, takes support and gears up for an upmove towards 4850-4885 target.
Scenario 2 ( marked in blue arrow)- The momentum continues upwards.This will lead to resistance again at 4800-4840 zone where earlier we have many swing tops.The effect would be some minor retracement before climbing up again.
Both the scenarios will get negated if we fall below the red lower channel at 4690 zone.
60 min chart
Price met with resistance at the Median line at 4785 zone .Today's move was more of a consolidation day in a wider range after the huge rally.The range formed today is between 4780-4730 zone which is what we'll have to watch out tommorrow.
Two scenarios are probable
Scenario 1 ( marked in red and green arrows) - price moves further down towards the Green and red LMLH at around 4700-4690 zone, takes support and gears up for an upmove towards 4850-4885 target.
Scenario 2 ( marked in blue arrow)- The momentum continues upwards.This will lead to resistance again at 4800-4840 zone where earlier we have many swing tops.The effect would be some minor retracement before climbing up again.
Both the scenarios will get negated if we fall below the red lower channel at 4690 zone.
5.01.2012 Thursday
60 min chart
Nifty playing hide and seek today
.Moving up towards resistance of range made yesterday, giving hope of a breakout and reversing down.Tested the low of the range enticing a breakdown ..last hour bar a green bar and the day ends with no conclusion of its mood.
So , the resistance at 4780 line is still holding on , but no clue of a larger retracement as 4730 was also supported today.Longer it stays in the range, then upmove is expected.
Drawing a temp red PF to assess the swing,the momentum to fall was not there when it tested the UMLH.Instead it moved out of the UMLH .Tommorrow should be a decision day to move up or down and the ST trend will be more clear.
As of now, my ST bias is moving up north towards 4800-4850.
60 min chart
Nifty playing hide and seek today
.Moving up towards resistance of range made yesterday, giving hope of a breakout and reversing down.Tested the low of the range enticing a breakdown ..last hour bar a green bar and the day ends with no conclusion of its mood.So , the resistance at 4780 line is still holding on , but no clue of a larger retracement as 4730 was also supported today.Longer it stays in the range, then upmove is expected.
Drawing a temp red PF to assess the swing,the momentum to fall was not there when it tested the UMLH.Instead it moved out of the UMLH .Tommorrow should be a decision day to move up or down and the ST trend will be more clear.
As of now, my ST bias is moving up north towards 4800-4850.
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