My Trading Strategy and Rules – Weekly Swing.
#safebull , Blogs , Educational
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 :
- Time Frame:- 1-hour, 4-hour and 1-day
- Indicators used:- 200MA, RSI with MA & Super Trend 20 & 2
- Price Actions, Trend Line & Support-Resistance.
Rules & Setup for the Trading Strategy:-
- 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.
- 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.
- 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.
- 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.