Hello all.
I've been messing with charts and TA for the past few months, mostly practicing on FX and Nifty EOD. I decided to try trading small amounts of the nifty to test my skills because demo/paper trading was always too easy. Anyhoo, we're currenlty in very interesting times for the nifty because it re-tested its all-time high and then it was carnage. FIIs being the unquestioned market drivers have since deserted the index and have been net sellers almost every day. Here's the daily futures chart as of today... doesn't look too bad, huh?
Well, here's the 1H TF.
Tomorrow (Wednesday) is a holiday and on Thursday I expect to enter short on a retracement back up, with today's high as the SL. Let me know if this makes sense to you old timers. Or should I just stay out of the bad volatility and let the market find a direction first? I'm not sure how reliable the volumes on my platform are, though.
Or, could the latest low/close in the H1 charts be the first in a series of higher lows as part of a rounding bottom?
Alternate views and constructive criticism welcome.
I've been messing with charts and TA for the past few months, mostly practicing on FX and Nifty EOD. I decided to try trading small amounts of the nifty to test my skills because demo/paper trading was always too easy. Anyhoo, we're currenlty in very interesting times for the nifty because it re-tested its all-time high and then it was carnage. FIIs being the unquestioned market drivers have since deserted the index and have been net sellers almost every day. Here's the daily futures chart as of today... doesn't look too bad, huh?
Well, here's the 1H TF.
Tomorrow (Wednesday) is a holiday and on Thursday I expect to enter short on a retracement back up, with today's high as the SL. Let me know if this makes sense to you old timers.
Or should I just stay out of the bad volatility and let the market find a direction first? I'm not sure how reliable the volumes on my platform are, though.Or, could the latest low/close in the H1 charts be the first in a series of higher lows as part of a rounding bottom?
Alternate views and constructive criticism welcome.