How you would trade this intraday chart and with explantion ?

Discussion in 'Technical Analysis' started by Equity421, May 28, 2013.

  1. Equity421


    20 EMA is used on 5 min Nifty chart
  2. ==================
    Chart link is not working;
    but i sometimes use a 5 minute or daily chart for entry[not closed out @ end of day]:cool:
  3. dbphoenix


    Given your parameters and with a gun to my head and put as simply as I can:

    1. Go long in anticipation of the exit from the opening range.

    2. Go short off the failure to make a higher high.

    3. Go long again off the higher low.

    4. Go short off the lower high.

    5. Go long off the midpoint of the decline. Quit when price can't make a higher high.

    Though there's no great trick to trading a hindsight chart. And I'd never trade something I knew nothing about. And I trade a 1m chart. And I don't use candles or indicators.

    But it's all in fun, isn't it?
  4. Equity421