Nifty Futures Intra Day Trading System with RSI Stochastics EMA and PSAR
Quick instructions on how to take trades
Buy – When RSI moves above 20 from below & when the Blue stochastics line rises above the red from below 20.
Sell – When RSI moves below 80 from above & when the Blue stochastics line falls below the red from above 80.
Keep stop of 15-20 points. Keep target of 30-40 points (twice that of stop). This kind of trading setup is more suited to range bound markets rather than trending markets. In strongly trending markets, things can remain oversold or overbought for long periods without correcting. So, if you do two trades in the same direction & both of them get stopped out, stop trading for the day.