Today morning, I suggested that we could use oscilaltors to identify intra day dips and go long. I had also given a chart. I am giving below a chart with two trading setups today. Both resulted in fairly deent rallies. Traders should plan to exit once a range expansion has taken place.
[Some people have asked me if why there are ads in the blog. These are ads inserted by Google. When a reader clicks on the ads, Google pays a small amount of money to the blogger (me, in this case).]
Now for the 5 minute chart. Ask yourself the right questions: how will I enter ? Where will be my initial stop ? Where is the range expansion bar ? Today's setup worked mainly becasue I was having a view that the markets were in a strong uptrend.