Nifty Entry ,Exit ,Target levels with Median Line Charts

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Kavima

Well-Known Member
#15
30 min chart-6.05.2011

Trade probability 1- Case for Long trade - Short term
Down Swing - 5892-5444=448 points.Trend - Down
This will have to be short term counter trend Long trade as Pitchfork is sloping downwards .

My trigger for a long is a price cross at 23.6 % levels of the swing considered which has happened today at 5499.The price can reverse down to test the Swing low.If so, will enter a long at 5485 levels with a stoploss of 25 points , just below the Swing Low .After that price moving forward can hit resistance levels at 5590-5620 levels.Which is at the Red median line.
Trade Probability 2
Price moves forward to 5620 without trying to test the swing low.
1.Price meets 5620 levels , moves down to 5570 which will be my Short trigger level.My entry for Short will be at 5600-5580 levels.Target1 will be swing low of 5470-5440 levels.
(or)
2.If swing low at 5443 levels break, then earlier projected levels of 5300-5350 will be the target 2.
 
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Kavima

Well-Known Member
#17
10.05.2011 Charts
Update on price movement as per yesterday's projections
Price went down upto 5535-( 5530 expected) and was resisted at the Red median Line several times with high of 5593 and fell down to a low of 5514 and closing at 5541.Expecting further downmove tommorrow.


Projections for tommorrow_11.05.2011


Drawing the red pitchfork with todays high at the median line, price tested the Upper median line at 5580 and was a good point to short Nifty.Price did fall down and expecting it to go down till 5475-5470 levels.Consolidation at those levels / breakdown will make Nifty go down swiftly to the lower targets projected earlier.
 
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Dawood

Active Member
#19
Dear Kavima could you please give some links to study about this Median lines or some details and explanations from your side.Please do it if you have some time to spare.Thanks for this nice thread.
 
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