Thursday, November 3, 2011

Intra day trading S&P 500 & NIFTY charts - using just 1 technical Indicator EMA

Two intraday charts. Examining a minimalist  / simple  / just 1 technical indicator for intra day trading.
Today on 3 Nov 2011 S&P 500 / SPY, using the 60 minutes EMA gave just one buy signal on 10:14 Hours at 1239 and for the rest of the day SPY didnt close below the 60 min EMA.I.e no Sell signal given. Market closed at 1261 +23  (+1.88% ).
Just following the buy signal and held till closing would have captured a +1.77% rally or +22 points.Intraday chart below. ( Click for Zoom )

 Similar for India NSE NIFTY Index.
Just one buy signal given @ 5213 @ 13:33 Hours. No sell signal given. Closed at 5265 or gain of ~ +50 Points.
 The charts can be used from Google Finance, Here for SPY and here for NIFTY.
A good technical parameters eg 20 min,55 min - could change from day to day or market to market. Will continue the study and post anything interest

1 comment:

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