Friday, 20 April 2018

Nifty Future in a Channel

At the start of this current week, I spotted a channel formation on 30-minute chart like this,

After that it gave 3 opportunities to trade this channel formation.  2 on short side and 1 today on long side like this,

For intraday trading we can use this vital information of it trading in a channel.  Whenever the prices approach the channel extreme and confirm rejection or inability to move further on our trading timeframe of 3-min, we can initiate the trade with high conviction like this, First short at channel extreme.

Today also it gave a nice setup to go long.

So keep a close eye on this channel.  As long as prices respect this channel, look to trade this high probability setup at channel extremes.


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