Nifty Entry ,Exit ,Target levels with Median Line Charts

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MurAtt

MurAtt

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#651
#651
Mera BLUE line sahi jaaing na Anay baba .... good till now ....

Boss ko bulao .. Boss kuch bola nahi re baba .... :D
 
MurAtt

MurAtt

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#653
#653
Hi Kavima

I'd like to draw your attention to the image posted below (which I had posted today morning). Maybe u have missed it ...

Price behaved in exactly the manner indicated, as such. And the new PF is now a light green support drawn by you ....

Your views, if any.

 
K

Kavima

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#654
#654
Hi Muratt

The correction phase is plotted as probable swings between resistance and supports formed between channels.
At this juncture , I would anticipate a swing towards the Purple median line (or ) if it is supported at the current orange warning line ( or close to the red line you have drawn) a triangular wave pattern formation followed by another larger impulse wave towards 5230-5200 - 5080 zone.
Above 5400 ,price would move out of the purple channel and will look at the next resistance of an equidistant channel line drawn above.
 
K

Kavima

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#657
#657
hawaisanjay said:

Kavima..thick red lines...are they drawn correct?
Click to expand...
Hi Hawaisanjay

For Andrews PF model , we need to choose the pivots where there has been a significant reversal in price to project a channel ,which can indicate the probable supports and resistances . The choice of pivots without any reversal in direction in the TF may not indicate the S/R levels for the future swings.

In your chart the 1st pivot chosen to draw the thick red median line is not suitable for the same reason.The dotted line PF can be considered for analysing the price bar moves.The last two red bars have been projecting below the LMLH ..indicating the supports are not yet confirmed at the LMLH and the trend is still down.
Scenario 1...the next bar closes positive higher than these bars,we wait for another second bar to retest the LMLH and again close positive to confirm that a reversal in direction has commenced. Targets will be the median line / previous highs.
Scenario 2 ...Since the ST trend is still down ...we can short the breakdown of the recent 2 red bars as then the bars are moving out of the LMLH support.Targets will be warning lines drawn parallel to the LMLH.
 
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