CAIRN is very near the previous 20 period low at 321 made on 25th Jan 2013. It had made a low of 322.20(31st Jan). If it opens or goes below 321 , then we go long above 321+filter
Reliance infrastructure ltd, is very near the previous 20 period low at 512.30 made on 25th Jan 2013. It had made a low of 513.05 today(31st Jan). If it opens or goes below 512.30 , then we go long above 512+filter
Reliance infrastructure ltd, is very near the previous 20 period low at 512.30 made on 25th Jan 2013. It had made a low of 513.05 today(31st Jan). If it opens or goes below 512.30 , then we go long above 512+filter
We have the previous 20 days low, atleast 4 days earlier and its value is 512.30 We are yet to have a 20 days low "today" !
So now the set up to be valid we need a new 20 days low today! For this to be true the Low made 4 days earlier at 512.30 need to be breached. Once this is breached, we get TODAY A NEW 20 DAYS LOW thus fulfilling the entire condition. Now we wait for the trigger. We go long above the previous 20 days low : 512.30+filter ! Our SL is below the low made till the trigger time.