Intraday Trading Strategies

Trading is 1 % Buying, 1 % Selling and 98 % waiting.

"My Goal is to make best trades, Money is seconday" - Anil Hanegave

Intraday trading strategies based on CPR (Central Pivot Range) indicator, moving averages, and price action analysis. 

1. Central Pivot Range (CPR): The CPR indicator consists of three key levels—the central pivot (P), Top CPR (TC), and Bottom CPR (BC). These levels act as potential support and resistance areas.

2. Moving Averages (MA): Moving averages help identify the overall trend and provide dynamic support and resistance levels. Two commonly used moving averages are the 20-period moving average (EMA20) and the 200-period moving average (EMA200).

1. Price Action: Price action analysis involves studying patterns, candlestick formations, and chart patterns to make trading decisions based on the behavior of price itself.

Here's a step-by-step guide to an intraday trading strategy :

1. Identify the trend: Use the EMA200 to determine the overall trend direction. If the price is above the MA200, consider it an uptrend and Bullish, and if it's below, consider it a downtrend or Bearish

2. Determine key support and resistance levels: Plot CPR by Trading Direction on Trading view Platform, It will automatically Calculate the CPR levels using the previous day's high, low, and close prices.  These levels will serve as important reference points for your trades.

3. Chart - Fin nifty Index, Buy above CPR and 200 EMA near 20 EMA and Sell Below cPR and 200 EMA near 20 EMA. Elephant candle is triger candle.

4. Look for price action signals: Monitor the price action around the CPR levels, EMA20, and EMA200. Look for patterns like Elephant Candle, pin bars, engulfing patterns, or doji candles that indicate potential reversals or continuation of the trend. Also, watch for breakouts above or below the CPR levels.

5. Entry criteria: For long positions, consider entering when the price breaks above the CPR's TC level or when a bullish price action signal occurs near the CPR or MA20. For short positions, look for a breakdown below the BC or below S1 level or bearish price action near the CPR or EMA20.

6. Set stop-loss and take-profit levels: Place a stop-loss order below the BC level for long trades and above the TC level for short trades. Take-profit levels can be set based on your risk-reward ratio or by identifying key support or resistance levels on the chart.

7. Manage the trade: Once in a trade, add position when you are in profit. monitor the price action and adjust your stop-loss levels accordingly. Consider trailing your stop-loss above R1 and below S1 to protect profits as the trade moves in your favor.

8. Exit criteria: Exit the trade when the price reaches your predetermined take-profit level Double of your Risk taken or if there are clear signs of a reversal against your position.

To boost your confidence backtest This trading strategy and along with risk management techniques, deploy capital within your risk limit with appropriate position sizes and using stop-loss orders. 

Additionally, You can Join Intraday Trading Mastery program to learn 12 secret Trading strategies by Trading Direction.