Today I am gonna share one strategy for Intraday trading.
First observe whether market is going up or down. You have to trade in the direction of market i.e, if market is negative, you have to short and ignore all the buying signals. If market is positive, you have to go long and ignore all the shorting signals. Now i will tell you the exact strategy that you can follow.
- Long – Supertrend green ( 5 min chart) + RSI above 50 ( 1hr chart)
- Short – Supertrend red ( 5 min chart) + RSI below 50 ( 1hr chart)
Exit the trade when the chart is going against your direction. Best thing to exit is when supertrend indicator turns opposite to what your signal is.