This is done using the multi-timeframe, multi-period technique we were discussing last Friday’s call.
Chart: Analysis: Levels: Support: 7000, 6900, 6750 Resistance: 7080, 7150, 7220 OI Data: Highest OI Call in Crude per OI data: 7500 Highest OI Put in Crude per IO data: 6500 Nearest Major Resistance in Crude per OI data: 7200 Nearest Major Support in Crude per IO data: 7000/6900
Trade setup: 1. Today MCX is open in the evening slot (5:00 PM to 11:30 PM) 2. Upto Daily timeframe Crude is sideways. The William Alligator is sleeping, so you should also sleep. Trading range: 6900-7200 for today. 3. So ideally you can do scalping. Any directional trade to be taken only above 6900-7200 breakdown/breakout.