Intra Day Nifty Trading System:Analyse the system.
1)If 70 min avg is above 1050 min avg play long, if 70 is below 1050 play short.
See diagram below : if green is above orange then long; if orange is above green then short.
2)try to use pullbacks to the green line the 70 min ema or the black line 210 ema to enter positions. (210 ema will result in smallest stoplosses under most circumstances, just look at the charts in an uptrend 210=great support and in a downtrend 210 = great resistance. 70ema can sometimes get whipsawed.)
3)Do not short if rsi is under 30
4)The SL is 0.6% to be employed as soon as you enter your trade.
Try & test it out on paper or Mini Nifty 1 lot on real time basis.
Happy Trading
Posts
No comments:
Post a Comment