Saturday, 1 August 2015

Ranges & DP's - An example

Here I am posting the real time chart of Nifty to demonstrate how wonderfully the concept of Ranges & DPs help us take trades at the extremes and at the lowest risk.  The chart comprises the price action of three days, 22nd, 23rd, and 24th July 2015.

I have marked the ranges only in the first chart.  Ranges are marked in numbers 1 2 3 etc for uptrend and A B C for downtrend.  Here it is,

Now the chart with ranges and DPs (purple).  I have taken a liberty of few points for drawing some DPs just to demonstrate their correlation with the range extremes.

Always pay attention to ranges and their confluence with DPs to trade at the best possible location.