Indicatorstrategy
NIFTY FUTURES LEVVELS 26.05.23Special markings in Red, blue and Green solid lines are very important areas and opening of the trade in the morning gives us a reasonable idea along with other factors as to how the day should proceed.
If you have been following the levels from the previous charts by now you would have seen the importance of how correctly marked areas worked .
we can visualize from the chart where a trade with defined risk can be taken.
The dotted lines in red blue and green can be tagged incase of a break on either side. The dotted lines ate the untouched VAH, VAL or poc which can be tagged.
If you carefully watch the previous charts you will understand how the dotted lines get tagged during the course of the day
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Different Set-ups - Same OutcomeHi folks!
Often Traders like to think that their set-up or strategy is 'superior' that helps in identifying opportunities and put them on good trades better than other strategies employed by other traders. They vehemently defend their approach, their indicators and strategies. While some may put total faith in Fibonacci Sequences, others on RSI + MACD with Moving Average Cross overs while some others may vouch on Trend Lines and pure Price Action and nothing else, ... and it goes on.
In the chat rooms here on TradingView and elsewhere, I have seen raging discussions and disagreements over indicators and it has always amused me.
This simple example that I have shared should be an eye-opener to such traders. The fact is no strategy or set-up is superior or gives a definitive edge that another strategy does not. In the example, I only took a small number of 50 set-ups - but astute traders know that there are as many set-ups as there are traders!
With so many numerous technical indicators available today, we could show any number of examples of how one or a combination of the technical indicators would have found the opportunity in this example.
The bottom line is that it is indeed possible to spot opportunities using a variety of indicators in different ways. It's futile to debate "which indicator is the best".
As long as the method (with or without indicators) adopted by you is delivering results, that's all that matters to help you stay profitable and keep you happy.
Hope this might be of interest to some of you.
All the best to all.
PriceCatch