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My Trading Strategy and Rules – Weekly Swing.

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Pixarts Trade February 4, 2024 05:30 PM

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Market is either taking support or resistance at 200MA, in hourly Time. Market is the direction of the bigger trend, RSI & SuperTrend is …[ Read More ]…

Chart Settings for the Trading Strategy :
  1. Time Frame:- 1-hour, 4-hour and 1-day
  2. Indicators used:- 200MA, RSI with MA & Super Trend 20 & 2
  3. Price Actions, Trend Line & Support-Resistance.
Rules & Setup for the Trading Strategy:-
  1. Observation and pre-entry: Check the Direction in daily time frame, followed by 4-hourly time frame. Then Follow the market with hourly time frame.
  2. Entry Time: Time Frame is Hourly
    • Full Qty: Market is either taking support or resistance at 200MA, in hourly Time. Market is the direction of the bigger trend, RSI & SuperTrend is also in the same direction, and shows a good volume. Also check any trend line, support & resistances are respected in confluence.
    • Half Qty: Market is either taking support or resistance at 200MA, in hourly Time. Market is against the direction of the bigger trend, but however RSI & SuperTrend are in the same direction, and shows a good volume. Also check any trend line, support & resistances are respected in confluence.
  3. Entry Instruments:– Always take spreads for margin benefits
    • Enter Sell Leg firsts, along with Stop Loss.
    • If Stop Loss hit Stop out.
    • Else hold it, but after some gains if price action shows some signs of change of direction in 15-mins & 30-Mins time frame, add the buy leg while in profit in the the Sell trade itself.
    • Depending upon the Over all Scenerio in Daily and 4-houry time frame, decide to hold for next day of exit at 15:25Hours.
    • Never Carry a positional trade if it is against the direction of the bigger trend.
  4. Exit Time:-
    • At Stop loss
    • At Trailed Stop loss
    • At Achieving Targets 70-80%, with an early signs of trend reversal, price action.
    • At Achieving Targets- After diverting from 200MA it is approaching back to 100MA. Trend line, Supports or resistance.

Always follow the rules and adhere to the rules strictly.