Nifty Entry ,Exit ,Target levels with Median Line Charts

[Kavima]

22.03.2012 Thursday

Yesterday's momentum did not sustain because of global cues and the sudden drop was a surprise.The OTOH scenario was projected in daily chart for week ended 16.03.2012 http://1.bp.blogspot.com/-82lcnE2PawU/T2NNJFH_10I/AAAAAAAABNU/A-G9XU-Rt1A/s1600/16.03.2012%2BDAily.PNGand chart dated 20.03.2012 http://2.bp.blogspot.com/-kdHr4GsOrgo/T2iECFPff0I/AAAAAAAABOo/hbDugZBVmdY/s1600/20.03.2012.PNGwhich was part of the larger picture...The intraday downmove probability was noted in the 5 min charts posted earlier.However to ride the massive drop ,it would have been possible if one had gone with the Flow.My intraday shorts were covered at the LMLH levels as per my plan.:thumb:

 

[InvestoMania]

Happy "New Year" & "Navratri(Vasant)" & "Gudi Padwa" & "Ugadi" to Everyone Everywhere...

 

[Kavima]

23.03.2012 Friday

 

[hharke]

Mam,

If Dow uncle work like this, Nifty might test 5260 (61% retra)

regards

 

[Kavima]

26.03.2012 Monday

 

[anilnegi]

26.03.2012 Monday

kavima,

just a question, if we have to drawn median line in our chart, how much days period we have to take for consideration and also which TF is best suited for result, i think higher the tf greater will be result

 

[Kavima]

27.03.2012 Tuesday

 

[Kavima]

28.03.2012 Wednesday

 

[anilnegi]

kavima

as per median line entry / sell, if somebody bought around black mark level in median line and sets his target to sell at upper TL, he must be in loss, as those level never came in nifty, is there anything in this strategy we were missing, as if one can wait and wait for level to come he must be at loss till now. pls. reply

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[Kavima]

@Anilnegi

Price bar hitting the UMLH is not a rule .
The price bar nearer the the UMLH means it is near a resistance zone and we have to look for price bar patterns / trendline breaks / swing line breaks / to book longs or enter shorts.
The Median Line tool can be used in the most basic way to estimate where the price is losing energy in a particular direction.It identifies high probability resistance and support zones.
Additionally we can use Fib % R , or moving average crossovers / pivot points - whichever additional tools somebody is comfortable with to finetune exits and entries.