Mid Day Break out Trading

[MarkedFeed]

Hi,

Its a very simple and very effective strategy. It goes like this

1) Mark the days high and low till 12.30 pm for any index. I like NIFTY and BANKNIFTY.

2) In 5 minute chart, wait for a breakout or breakdown with a long bar.

3) If the volume for that bar is higher, take position otherwise ignore.

4) Stop loss is swing low or high in 5 min chart.

5) Decide the target following any technique - fib, pivot, swing H / L in a bigger time frame etc etc.

Big advantage of this set up

1) Not everyday you have to be glued to the screen for day trading. So you can carry out other job very well.

2) You can still day trade even if you are not staying in India. For example, you are currently in US and you can not stay up all the night.

2) Of course you will miss other good trading opportunities. But I am making nearly 500 points on NIFTY and BANKNIFTY together for last two months following this strategy and I missed some entries. Guys I am very satisfied. All it takes is only 3 hours.

Thanks


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