Nifty Entry ,Exit ,Target levels with Median Line Charts

[4xpipcounter]

Vinzz, it looks like his next level is 5100--5130, and then 5220--5240.

what are the "turning points"
to look for on monday
which will help us identify which of your levels is it headed for

5060 - 5050 - 5130

cheers

 

[vinzz]

precisely,

what "all" does one need to "look" for
to be able to determine which levels it is most likely to take



elaborate pls
cheers

 

[Kavima]

Hi vinzz

The chart analysis is to estimate the range in which it can move in the next few days.So,we have 5100 5130 on the upper side for now.In a swing trading perspective,New longs will not be entered as the stop loss below the previous swing low is too far away .Current longs can be closed at these levels when reached.Only when there is a trigger for a trend reversal will shorts be considered.The trigger could be a bearish candle bar pattern on reaching the resistance zone and a high pivot is formed.I will look for a small drop in price and retracement to test the high.This could be an aggressive short entry.We can wait for a minor retracement to be completed for a lower high and if price breaks down through an upsloping trend line from the earlier swing lows, then we get another entry for a short.

 

[4xpipcounter]

I'm agreeing with you on the aggressive short entry. It is going to drop big once it reverses.

Hi vinzz

The chart analysis is to estimate the range in which it can move in the next few days.So,we have 5100 5130 on the upper side for now.In a swing trading perspective,New longs will not be entered as the stop loss below the previous swing low is too far away .Current longs can be closed at these levels when reached.Only when there is a trigger for a trend reversal will shorts be considered.The trigger could be a bearish candle bar pattern on reaching the resistance zone and a high pivot is formed.I will look for a small drop in price and retracement to test the high.This could be an aggressive short entry.We can wait for a minor retracement to be completed for a lower high and if price breaks down through an upsloping trend line from the earlier swing lows, then we get another entry for a short.

 

[Kavima]

Hi 4xpip
By the way...it's Her not His

 

[4xpipcounter]

Sorry, Kavima. It was a stereotype on my part.

Hi 4xpip
By the way...it's Her not His

 

[NANDAMAD]

Hi vinzz

The chart analysis is to estimate the range in which it can move in the next few days.So,we have 5100 5130 on the upper side for now.In a swing trading perspective,New longs will not be entered as the stop loss below the previous swing low is too far away .Current longs can be closed at these levels when reached.Only when there is a trigger for a trend reversal will shorts be considered.The trigger could be a bearish candle bar pattern on reaching the resistance zone and a high pivot is formed.I will look for a small drop in price and retracement to test the high.This could be an aggressive short entry.We can wait for a minor retracement to be completed for a lower high and if price breaks down through an upsloping trend line from the earlier swing lows, then we get another entry for a short.

When you say//in a swing trding perspective new long s will nt be entered as stop loss below the previous swing low is too far away//, if you can add the previous swing low figures, it will help new learners to refer the chart know which was the swing. Sorry I know you are doing a lot still more is being requested for, but it helps a few like me.

 

[Kavima]

Hi Nandamad

Will add in more details in the charts and share as much as I can.
You will find lot of articles by Tim Morge in his site marketgeometry.com and videos on how to see where price is moving .I've learnt mostly by reading,reading , reading and drawing these lines over and over again on hundreds of charts, spending hours together.I'm in the process of refining precise entries and exits and still have to work on maximizing a trade's run on the profit side .Though the direction is clear to me, many times I too get bogged by typical trader emotions and come out early or exit late , which I'm working on to reduce with other strategies.
Any new system needs to be studied and practised realtime to get confidence in it .You can try out charting lines and observing how price reacts to these lines and move slowly into this methodology.All the best!

 

[Kavima]

5.12.2011_Monday

Price moved within a narrow range today.In view of a holiday tommorrow, probably not much of movement.Price has been held within the Magenta PF and moving sideways .
What next?
Drawn a green parallel channel between recent Swing highs and low.If the sideways move continues, it can hold 5000 and move up towards the target 5100-5130.If not, a breakdown can lead to 4950-4850 zone.
Bias is towards testing of 5100-5130 area as we are in short term uptrend but should have caution for sudden volatile moves leading to a breakdown.

5 min chart with a detailed writeup.

 

[4xpipcounter]

Kavima, if I am reading you right, then you are saying the reversal is imminent, which I would agree. I don't think your 5000 zone will hold, as it heads much lower.

5.12.2011_Monday

Price moved within a narrow range today.In view of a holiday tommorrow, probably not much of movement.Price has been held within the Magenta PF and moving sideways .
What next?
Drawn a green parallel channel between recent Swing highs and low.If the sideways move continues, it can hold 5000 and move up towards the target 5100-5130.If not, a breakdown can lead to 4950-4850 zone.
Bias is towards testing of 5100-5130 area as we are in short term uptrend but should have caution for sudden volatile moves leading to a breakdown.