Ok people , Like is said i would open a new thread that will show how to trade nifty using daily charts.
Please note , i do not trade nifty myself , at least not at the moment. You need a account size of atleast 1-2 Lakh to trade nifty futures, or any futures for that matter. However i do trade stocks using this method. you can see the results of this method in my Price Action method trading thread in Technical analysis section.
Also note , that this thread is for educational and learning purpose only , so only "after the fact" charts will be posted.
We will use daily charts to identify key S/R levels and trade using them. We will not be going into any TF less than the daily. Once we identify the key S/R levels, I will show where and why to enter along with the stop and believe me ladies and gentlemen, this method has one of the least risks to enter, because we will have a nice tight stop.
Method is very simple. Identify key S/R levels , like it will be shown on charts and simply enter with SL.
Today the markets were flat all day. But i will show a possible trade, if it does not work , it does not work. It's not worth chasing the price.
Also we will try to enter using limit orders reducing our risk even further.
So lets begin...
Please note , i do not trade nifty myself , at least not at the moment. You need a account size of atleast 1-2 Lakh to trade nifty futures, or any futures for that matter. However i do trade stocks using this method. you can see the results of this method in my Price Action method trading thread in Technical analysis section.
Also note , that this thread is for educational and learning purpose only , so only "after the fact" charts will be posted.
We will use daily charts to identify key S/R levels and trade using them. We will not be going into any TF less than the daily. Once we identify the key S/R levels, I will show where and why to enter along with the stop and believe me ladies and gentlemen, this method has one of the least risks to enter, because we will have a nice tight stop.
Method is very simple. Identify key S/R levels , like it will be shown on charts and simply enter with SL.
Today the markets were flat all day. But i will show a possible trade, if it does not work , it does not work. It's not worth chasing the price.
Also we will try to enter using limit orders reducing our risk even further.
So lets begin...
