Just before 11:02 it seemed to have broken out on the long side.
Between 11:02 and 11:32 it seems to have broken southwards.
Between 11:32 and 12:02 it seems to have broken out towards Long again.
After 12:02 it gave a breakout on the downside and gave HUGE profit!!
Just what I see in the chart, very difficult to understand fully without having the actual chart and not just the Image.
Do post the rules of trading , in case you are trading it and also your results with this strategy.
Thanks for sharing!!
Hello, I have made a few trades, tough this system looks simple its effective.
While going short, you may keep a sl at the 28 M (high) moving average, if it manages to give a close above the 28 M (high), exit from your short. The same applies to long (wherein you keep a Sl at 28 M (low).
Also, one should keep in mind the Intraday resistance and support levels (as you mentioned that I might result into flat trades)
Nifty Today faced a Intraday resistance at 5540-50, support around 5530-20
You can track the live chart at
http://chartink.com/realtime/nifty.html
Hope this helps for day traders