A correction is on - Use ORB for confirmation only.
Many are asking whether a mechanical system can be made out of the "Tech. table" ?? - May be. I never tried it. I use the tech table as a reference point only...a confirmatory tool as I do with indicators and others. I have the time to study the market in its complexity and try to feel its pulse.
But for those who can not afford so much time, there are "Swing system" based on "n" period of high/ low breach play (Eg: 5 day swing, 10 day swing, 20 day swimg)or a Follow the macd or a tech.table based "Long on a close above 5-ema (Some swear by 3/7 ema) and so on.
What ever you choose, back test for a period of 2 years spending some time on that research with long trades initiated, whipsawed, etc and the returns and combine the same with some "Profit taking methods". Only when you are convinced, should you put them to trade/ invest.
Many are asking whether a mechanical system can be made out of the "Tech. table" ?? - May be. I never tried it. I use the tech table as a reference point only...a confirmatory tool as I do with indicators and others. I have the time to study the market in its complexity and try to feel its pulse.
But for those who can not afford so much time, there are "Swing system" based on "n" period of high/ low breach play (Eg: 5 day swing, 10 day swing, 20 day swimg)or a Follow the macd or a tech.table based "Long on a close above 5-ema (Some swear by 3/7 ema) and so on.
What ever you choose, back test for a period of 2 years spending some time on that research with long trades initiated, whipsawed, etc and the returns and combine the same with some "Profit taking methods". Only when you are convinced, should you put them to trade/ invest.
Why do I have both "Buy" & "Sell" suggestions - because Nifty is at another inflection point. There is a clear possibility of moving higher post this correction. Monthly charts of many stocks too give such an indication.
A correction is on and it may resume the downtrend for one more new low.
In sum, you sell first and then buy - Ohhhhh- that is trading..you got it.
