Daily charts:
- trend is up on daily charts
- today nifty closed 0.5% in negative at 9196
- AD was 7:11
- support forming around 9000
- nice resistance around 9500
Note on trading:
- irrespective of what trading system or timeframe you follow
- just remember that half the signals will fail
- so you must have a rule for exiting profitable positions
- and an exit system for loss making trades
- position sizing will take of the risks
I may use 20 bar swing, hourly cross over or whatever system... my exit is invariably based on 3 or 5 bar swing.
3 min charts:
- traded all signals as per chart
- ignored buy signal after 2 pm
5 min charts:
- trend is up on daily charts
- today nifty closed 0.5% in negative at 9196
- AD was 7:11
- support forming around 9000
- nice resistance around 9500
Note on trading:
- irrespective of what trading system or timeframe you follow
- just remember that half the signals will fail
- so you must have a rule for exiting profitable positions
- and an exit system for loss making trades
- position sizing will take of the risks
I may use 20 bar swing, hourly cross over or whatever system... my exit is invariably based on 3 or 5 bar swing.
3 min charts:
- traded all signals as per chart
- ignored buy signal after 2 pm
5 min charts:
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