May 12, 2020

Market outlook

Daily charts:
- trend is up on daily charts
- today nifty closed 0.5% in negative at 9196
- AD was 7:11

- support forming around 9000
- nice resistance around 9500

Note on trading:
- irrespective of what trading system or timeframe you follow
- just remember that half the signals will fail
- so you must have a rule for exiting profitable positions
- and an exit system for loss making trades
- position sizing will take of the risks

I may use 20 bar swing, hourly cross over or whatever system... my exit is invariably based on 3 or 5 bar swing.






3 min charts:
- traded all signals as per chart
- ignored buy signal after 2 pm



5 min charts:



No comments:

Post a Comment