This is what I did i dont know how it came to my mind!! plz any1 can correct me if i am wrong 
*we have to try and find the MAs (only 2) which the stock respects in both 5m and 30m TF (or the which u trade) i trade on 5m tf but keep watch on 30m tf.
*also keep 3EMA in the watch.
*This was the basic setup.....
*we have to try and find the MAs (only 2) which the stock respects in both 5m and 30m TF (or the which u trade) i trade on 5m tf but keep watch on 30m tf.
*also keep 3EMA in the watch.
*This was the basic setup.....
Todays MCDOWELL chart
*1* shows the crossover of the 9ema and 30ema (that suggest trend going down)
*2*the price touches the 30 or higher ema but retraces back (trend still down with 30ema as resistance)
*3*An ideal shorting point where the price leaves the 9ema or the smaller ema that confirms the trend and it accelerates here.(to avoid whipsaw and nontrending period 1 should short here)
the price continues to stay below the smaller ema.
usually the longest candle is the end point or trend or consolidation starts (also premium eating for options).
*4*On point 4 the price has stayed too long away from the smaller ema and starts to retrace back. with a good and big green candle 1 should exit shorts and take profits and enjoy
*2*the price touches the 30 or higher ema but retraces back (trend still down with 30ema as resistance)
*3*An ideal shorting point where the price leaves the 9ema or the smaller ema that confirms the trend and it accelerates here.(to avoid whipsaw and nontrending period 1 should short here)
the price continues to stay below the smaller ema.
usually the longest candle is the end point or trend or consolidation starts (also premium eating for options).
*4*On point 4 the price has stayed too long away from the smaller ema and starts to retrace back. with a good and big green candle 1 should exit shorts
and take profits and enjoy
will try this on nifty and share after some time having lunch
