also any trade setup for intra nifty trading???
For NIFTY Intraday trading, i trade using 15mins and 1Hr time frames accompanied with the study of Daily and Weekly charts done before the market opens. I use these two intraday timeframe chart windows in Tiled format, so that the chart pattern formation in one complements the other visually thereby avoiding any premature trade exits.
I trade only Nifty index in 30 mins timeframe.
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i use 3 and 15 MA crossover on that timeframe to scalp low profits.
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I trade breakouts and breakdowns on that timeframe.
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I trade wolfe wave patterns on that time frame.
You can do that all in other timeframes too and find yourself successful. The main reason i choose is i want to stick with one timeframe so that makes easy of tracking, analyse and quickly take buy/sell decisions. The other reason is this 30mins timeframe gives less whipsaw than 1 or 5 min timeframes.
I believe less timeframe is always better. By using this we can take decision faster before ending with huge loss ā¦
1. IĀ use 1 hour time frame for nifty trading, it gives the bestĀ informationsĀ of the market for intraday.
1 hour time frame is best to understand candlestick patterns with 20 days EMA