Nifty was extremely volatile today.In the morning it gave upside breakout and trapped buyers.
In the evening it gave downside breakout and trapped sellers.
I expected this volatility.
As per my startegy nifty is still in a no trade zone .Earlier in the day it gave buy signal as 8 ema crossovered with 50 ema in 15 mts, 30 mts,and hourly chart.But I didn't took the trade because Bollinger bands did not support these buy signal.This saved me from huge loss.
Later in the afternoon too nifty gave a sell signal by crossover of 8 ema and 50 ema on the downside.I don't took that trade too as mentioned earlier Bollinger band didn't gave sell signal. Now if nifty drop below 10525level. I will take a short trade.Because that is the lower band of Bollinger band in 30 mts and hourly.
Now the trading range of nifty is 10900 on the upside and 10525.
Some times you can make money by not trading too.
In the evening it gave downside breakout and trapped sellers.
I expected this volatility.
As per my startegy nifty is still in a no trade zone .Earlier in the day it gave buy signal as 8 ema crossovered with 50 ema in 15 mts, 30 mts,and hourly chart.But I didn't took the trade because Bollinger bands did not support these buy signal.This saved me from huge loss.
Later in the afternoon too nifty gave a sell signal by crossover of 8 ema and 50 ema on the downside.I don't took that trade too as mentioned earlier Bollinger band didn't gave sell signal. Now if nifty drop below 10525level. I will take a short trade.Because that is the lower band of Bollinger band in 30 mts and hourly.
Now the trading range of nifty is 10900 on the upside and 10525.
Some times you can make money by not trading too.
No comments:
Post a Comment