This correction was just getting on my nerves. But i was confident that the 13 period bollinger bands are the best technicals that are currently working . And once they moved below the mid bollinger band with big force I was confident that the lower level will be hit . Now you would be asking why 13 and not any other period like the usual 20 everyone uses.
Because if you look at the 13 period BB, the hits at the midddle or outer bands are EXACT touches while it is not so in the other periods. The last swing low of 5170 did not touch the lower BB level in 34 period while the swing top of 5400 did not touch the upper level bands in both 34 and 20 periods . Not so in case of 13 period. So here we are .
The lower level is at 5165 and it may move a little lower while we come down . This chart is for April futures contract . Currently theres a difference of around 50 points with NS. HOLD on to your shorts . No doubts now right .
Because if you look at the 13 period BB, the hits at the midddle or outer bands are EXACT touches while it is not so in the other periods. The last swing low of 5170 did not touch the lower BB level in 34 period while the swing top of 5400 did not touch the upper level bands in both 34 and 20 periods . Not so in case of 13 period. So here we are .
The lower level is at 5165 and it may move a little lower while we come down . This chart is for April futures contract . Currently theres a difference of around 50 points with NS. HOLD on to your shorts . No doubts now right .
Am holding my shorts in April Calls since long;covering at lower level with April Future & trading as & when price goes up.Thanks for your tips.
ReplyDeleteIn ChartNexus the default BB is 20day.
How do one set for 13days ?
u r holding shorts in April PUTs....right ....and currently chartnexus is not installed in my laptop pr office desktop....and not using it for a long time ....only forexpros......may be i will find it in a day or 2 and then let u know....in th e meatime why dont u try and find out..there must be something ...
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