iCharts Discussions

[manojkr78]

ok tnx for your update...

[welgro]

NIFTY OPTION OPEN INTEREST ANALYSIS 12/08/2013 ::: 01.45 PM

[welgro]

Hidden Divergence ?????

[welgro]

NIFTY OPTION OPEN INTEREST ANALYSIS 12/08/2013 ::: 03.30 PM

[welgro]

Nifty future analysis 13/aug/2013

[welgro]

BANKNIFTY FUTURE UPDATE 14.08.13

[welgro]

NIFTY FUTURE ANALYSIS 14/AUG/2013 [VIMALRAJ]

[welgro]

Murrey Math Lines Trading



Murrey math lines (MML) is a relatively new trading indicator showing supports and resistances, and helps in finding trends and trend changes. The indicator was developed by T. Henning Murrey and has some similarity to Fibonacci retracement and pivot points. MML was created based on the observations of Gann studies and is a simple way to implement Gann.



Murrey math lines comprise 9 equidistant lines which run parallel to one another. MM lines from the bottom are at the levels 0/8, 1/8, 2/8, 3/8, 4/8, 5/8, 6/8, 7/8 and 8/8. 0/8 is the oversold line and 8/8 the overbought line; these are the hardest lines to cross and around 75% of the time, the crossing triggers price reversal. The range between 3/8 and 5/8 is the normal trading range and price tends to consolidate at these levels before falling (3/8 line) or rising ( 5/8 ) beyond this trading range.

Like Fibonacci retracements, when the price is between two lines, the upper line is considered as resistance and lower line is considered as support. When the price rises above 5/8 and touches 6/8, it has a tendency to reverse to retest the 5/8 level before heading high. The same is also applicable to downtrends; the price tends to reverse to retest the 3/8 level before heading down.

[ajit602]

[paa]

Dear Welgro
Please explain a little about this excel sheet pasted by you! Can you please attach this excel file?

[welgro]

Banknifty EOD spot NR7

[welgro]

NIFTY FUTURE ANALYSIS 16/AUG/2013 [VIMALRAJ]

[welgro]

EXITTED ALL NIFTY LONGS AT TRADING SUPPORT LEVEL

NOW WAITING TO TAKE FRESH POSITIONAL SHORTS.......

[bharatpatel]

[ajit602]