No Indicator Line Chart System
No-Indicator Line Chart System!
Thread!
System is based on: Support and Resistances for use on Daily, 4Hr, 1Hr, 30, 15min IntraDay Index Trading to enter a trade
It is purely a Line Chart Method
#intraday #indicator #Nifty #trading #Optionstrading
Mark Lines on
1. Every High or Low
2. Were the High meets any Low
3. Near about Double Top or Double Bottom
4. Two lines within 0.1% , one can be discarded i.e. if Nifty has two lines within 0.1% of 22300 i.e.22 points discard one
#banknifty
2/n
Here is below Monthly Chart with Levels written
– 48346
– 45996
– 45651
– 44584
– 43989
– 43245
– 42845
#banknifty
3/n
Shift to Weekly Time frame and mark in different color (say Red for Weekly) the High and Lows that are not marked in Monthly
4/n
Let’s now toggle to Daily Chart and mark in different color (say Blue for Daily) the High and Lows that are not marked in Weekly as below as below
#banknifty
5/n
Let’s now toggle to 1Hour Chart and mark in different color (say Green for 1Hr) the High and Lows that are not marked in Daily as below
#banknifty
6/n
Let’s now toggle to 30min Chart and mark in different color (say Pink for 30m) the High and Lows that are not marked in 1Hr as below
#banknifty
6/n
The 30 min Line Chart provides you Levels to Trade based on Support / Resistances that are comforting and convincing to your eye-hand co-ordination punching trades.
#banknifty
7/n
Daily Chart now appears as below for your ease of Trading Support & Resistances
Trading Waves based Support/ Resistances are less predictive than depending on Fibonacci as they depend on historic and existing values seen than predicted
#banknifty
8/n
Thank you for reading
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