re: Day trading Nifty & Banknifty Futures
Thanks a lot Hembhai, but one silly question how many tf you look at to confirm the strength of PH/PL 5,15,30 as well as hourly?
or only 5,15,30 for pivot confirmation and hourly for checking trend direction?
or for trend direction you use some indicator and use above time frames for identifying pivots only?
Do you take trade based on failure or success of break down and break out only on the pivots confirmed over all these tfs?
Please advice, don't get angry if this is a stupid question.
My yesterday(30/9/2013) NF trades :-
(1) short below 9:20 bar low and
(2) SAR above 1:10 bar high and exited below 2:20 bar low
Reason for SAR trade :- 12:30 pl(15/30 min) BDF
(3) long above 11:30 ph(5/15/30 min) and SAR below 2:55 bar low and covered all at 5778 ( at 3:27 pm).
Reason for SAR trade :- 11:30 ph(5/15/30 min) BOF
HEM
(1) short below 9:20 bar low and
(2) SAR above 1:10 bar high and exited below 2:20 bar low
Reason for SAR trade :- 12:30 pl(15/30 min) BDF
(3) long above 11:30 ph(5/15/30 min) and SAR below 2:55 bar low and covered all at 5778 ( at 3:27 pm).
Reason for SAR trade :- 11:30 ph(5/15/30 min) BOF
HEM
or only 5,15,30 for pivot confirmation and hourly for checking trend direction?
or for trend direction you use some indicator and use above time frames for identifying pivots only?
Do you take trade based on failure or success of break down and break out only on the pivots confirmed over all these tfs?
Please advice, don't get angry if this is a stupid question.
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