I have been trading Nifty on the basis of pure price play i.e only high and low are basic parameters. No complex formulas and indicators which I am not comfortable and show lag
Logic - When Nifty is trending, it follows a pattern which is evident from the highs and lows. A downtrend has lower highs and an uptrend has higher lows.
Rules - Checks highs/lows for 1 day, 2 day and 3 day for confirmation of higher low or lower highs. When all three conditions satisfy then only we enter a trade
Stop Loss - SL for a trade is last high for a short trade and last low for a long trade
Target - Untill the lower high or higher low condition is broken.
Please share your thoughts and suggestions
Logic - When Nifty is trending, it follows a pattern which is evident from the highs and lows. A downtrend has lower highs and an uptrend has higher lows.
Rules - Checks highs/lows for 1 day, 2 day and 3 day for confirmation of higher low or lower highs. When all three conditions satisfy then only we enter a trade
Stop Loss - SL for a trade is last high for a short trade and last low for a long trade
Target - Untill the lower high or higher low condition is broken.
Please share your thoughts and suggestions