Nifty Futures Update!!!

If you have read the previous post on NF; I had mentioned a target and also mentioned that it might get support at 5345/60 and might ZZZZZZ again…Yups…a breakdown from the triangle…a retracement back inside the triangle…lead to nothing, but bruised bears and equally confused bulls…

From the chart above you can see that the scenario has changed from yesterday…but the bear battle line still remains breaking and closing below 5370 and the bulls will want to break and hold above 5415…and the pigs just don’t know which way to go other than…chop chop…

Two days back I had read an interesting post by Craig of TAZ trader and to quote him;

“There are three things I know about swing trading and the stock market:

1. You are doomed without a money management strategy.

2. Chart patterns can and will fail no matter how good they look.

3. There will ALWAYS be losing trades.

That knowledge is what has kept me in this game for so long…”

A lot of wisdom in the above words…accept these and trading will become a lot easier!!!