Poles are highly profitable to trade. However, instead of entering at 50% reversal, I recommend 3-box reversal provides better risk:reward.
This blog attempts to analyze movement of Nifty through the age-old Point & Figure method. Weekly chart would imply the movement of Nifty for the weeks to come and not necessarily the immediate next week. Same is true for other time frame charts. As price action unfolds every week the charts speak for due course of action. DISCLAIMER: NOTHING IN THIS BLOG SHOULD BE TAKEN AS TRADE ADVICE
Tuesday, January 24, 2012
Nifty P&F Mid(Wk 2301-2701) - Nifty qulifies a high pole, bears ready for a pole-dance!
Pole: When a price movement continues without a correction for visibly longer than its immediate predecessors.
Nifty up on a pole:
Poles are highly profitable to trade. However, instead of entering at 50% reversal, I recommend 3-box reversal provides better risk:reward.
Poles are highly profitable to trade. However, instead of entering at 50% reversal, I recommend 3-box reversal provides better risk:reward.
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