Market Structure trading on Nifty
Idea is to share nice trading system. All you need to do is following
1. You dont go after the trade, let trade come to you. Our job is to wait for opportunity (how its done? answer is by following trading system).
2. Draw market structure on 15 mn. chart (you can take any time frame after backtesting)
3. Whenever market closes above previous swing high we will long , in uptrend.
4. Recent swing low will be the stop loss
5. Trail your stops with new swing lows
6. Exit the trade if market closes below swing low.
7. While taking trade keep in mind the Demand and supply area above the price as price will be expected to reverse from same level. These levels are imp. because after considering them we will come to know affordability(risk to reward) of trade.
Same technique can be used for shorting also. one needs to have down trend for that.
Please do backtesting before using any trading system.
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