My System - My trades.

Keep SL of 18970 as this is where it has taken support at 36EMA in price and it is the lowest retracement level in today's upmove. If SL is taken then be ready to go long above the nearest significant Pivot high again. This is only to lock profits. No signal to short as of now.

Hey i had posted two more messages in my thread just now about the trades i took yesterday. They got deleted. Did i do any inappropriate thing. Just a question to the moderators.

Should i not discuss my trades only my system. Is it against the rules of this forum ? Pls let me know so that i donot repeat it.

Next significant resistance is at 19057 (so around 19040-60). If we go above that then the gap that we created on 20 th (19143-19085) would be targetted. This is what i feel would be the top for this expiry. Just my 2 cents. Not written in stone.

2 level that i can see on my charts right now (5min.) are 18963 and 19008.

So no real action between these 2 levels.

We have been within this band for close to 2 hours. A mere 40 points. The market is making its mind for the next big move of 150-200 points from this range.

There is no rocket science to this view. It is a very safe and logical assumption as we have close to 2 days (today and tomorrow) to go for expiry and the ATR of Banknifty is around 250.

So how does one use these views. The plain vanilla thing would be to buy 19000 CE. above 200EMA and to buy 18900 PE under it. The 200 EMA in 1min.charts is at around 18950 and the current rate is 18980

The stop loss would be succesful and convincing crossing over of the 200EMA after the trade is in place. By convincing i normally rely on this rule. "No part of the candle should be touching the 200EMA after sucessfull breakout/breakdown" Meaning the trigger candle should be completely above the 200EMA line in case of a breakout and completely below it in case of a breakdown.