Kingfisher

Kingfisher is a cunning intraday trading strategy of Auric which uses the principle to retracement to catch early trades.

This algo uses inputs from a principle of Dow Theory which states that the ongoing trend remains intact unless proven otherwise. This idea is cystallised in a five day candlestick pattern famously known as rising three methods and falling three methods and after adding a tweak to it based on modern day markets, entry is fine tuned.

These signals have stop losses below areas where momentum shifts in the other direction and based on entry prices, targets are calculated at atleast 1:2 risk reward ratio.

The signals are there on the desk at 09.15 in the morning.

How to Trade?

1. A trade must be given at least 90 minutes to span out. Hence, if markets close at 03.30pm then do not punch in trades after 2.00pm.

2. Try getting an entry near the mentioned price points.

3. Keep a strict stop loss.

4. Reduce your holding by 35-50% when target 1 is hit. Then trail the stop loss to the entry price.

5. Exit the trade at 03.20pm is neither target nor stop loss is hit.