Scalping trading means getting in and out of the market quickly and taking away the stoploss or profits very fast.
Time cycles can
be applied even on 5 minutes time frame for scalping
It requires a clear understanding of charts and trade setups
to do scalping trade even on 5 minutes time frame.
Below chart is of Nifty showing time cycles applied on 5
minutes time frame
Nifty 5 minutes chart
Time cycle
application – Nifty time cycle applied on 5 minutes chart shows that most
of the time prices are nearing this time zone there is a move on upside. There
are swings as much as of 150 points as well.
During the downtrend when the daily trend is negative as per
3 candlestick rule these time cycles give pullback and providing opportunity
eve on the sell side.
As can be seen in above chart on prior 3 occasions there
have been pullbacks from the cycle period even during down moves.
For scalping it is one of the quick way to identify reversal
areas and combining this with price action can provide classic trading
opportunity with good risk reward trade setup.
As can be seen recently prices have shown upside pullback
from near the time zone and now break below 21580 will provide sell side
opportunity keeping the high of the candle as stop.
It is also possible to derive targets on downside using time
indicator and other concepts of Hurst’s
Time cycles.
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