If you want to look for Day Trading opportunity before the arrival of the Noon Express then try this technique
This technique is valid ONLY if the opening of today is between the highest and lowest points of previous trading day!
Note the highest point (H2) and lowest point (L2) of the previous day
Sell when price falls below L2
Buy when price breakouts above H2
Keep entry point as strict stop loss
After 12:30hrs, go as per Noon Express.
========================
How far it will go after breakout or breakdown depends upon
- whether it had already gone too far since opening?
- whether it is pro-rally, anti-rally or ranging times?
- whether rsi and william%r in the favour or against that breakout or breakdown.
===================
if you back-test this on ftse for 29 sessions from 16th July to 25th Aug, you will notice that
- 17 times, the trade was not triggered
- Out of 12 times it got triggered, 9 times it gave profit while rest 3 times you exited cost-to-cost at the trigger of stop loss after which second trade was not triggered.
1 comment:
Day trading can be both very profitable and risky. Day traders seek to buy a security such as a stock or commodity and sell it a few days later at a profit. Thanks...
Post a Comment