A simple yet powerful tool that I use every day in my trading. It’s called symmetry. Symmetry in market means equality when comparing swing in same direction. This technique helps me to project probable target or reversal point on chart. In February after budget session NIFTY index took a dip of 1219.65 points from top of 11171.55 to low of 9951.90. This time nifty has been in a nice down trend from 5 weeks and it has headed a low of 10547.25 in today’s session. If we subtract 1219.65 points from recent top of 11760.20 then areas of 11540.55 are the probable support as per price symmetry. However areas of 10540.55 are probable support areas and reversal can’t be expected exactly from that same level but it can be used as potential support area. On this chart I have drawn a horizontal line which is connecting multiple highs and lows which is also a significant area and rising trend line and horizontal line both are intersecting near 10460 zones which is also a crucial point to wat...
Rule number 1.Don't lose your money , Rule number 2.Don't ever-ever forget rule number 1.