It's been a very long time since I looked at the index to trade, but with the levels coming back to charted territory, it's getting interesting.
So, you know, I trade based on my lines.
It has come below the weekly white line now . And additionally, I have drawn a few more lines to help me trade. I'll trade only when it's near any of these lines as it provides me a comfortable risk reward.
The long/short will depend on the price action that forms.
Sharing if it helps anyone in aiding their trading decisions during the market hours.
I'll try to update if I do take any position and have time to write that over here live.
I have kept it at 15 min timeframe, so that you can have a detailed view over what you can see in a daily timeframe.
Will update a new one when required.
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23 March : Immediately went above the line, and after sustaining for a while gave a huge upmove , only to be stopped by the blue trendline. Good long setup created.
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So, tomorrow, 24 March, see how it acts around the blue trendline. Reverses or breaks on the upside.
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Breaks on the upside and then good follow through by a full up green bar. Sustaining above white line is a challenge now.
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Doesn't sustain above the white line, falls rapidly in the end.
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Formed a double top and then a double bottom confusing traders on direction , now again trying to cross the white line.