60 min Flow in International Commodities.

[rishig38]

would you guys consider the tiny PL (low of 11-12pm bar) in making the sar? although confirmation is still required... for me i will definitely consider it a stop, if not a sar....

 

[Prabhjeet]

In my view breakdown of today's low - filter would be the best place to reverse

 

[beethoven]

In my view breakdown of today's low - filter would be the best place to reverse

What is the gold's characteristics on gap filling? If gap is generally not filled then what you say is true, but I will still wait for a better sign (pivot) to be formed before shifting present SAR. We are sitting on big profits, so I am not in a hurry to exit this trade without having pucca confirmation on reversal.
Bee

 

[rishig38]

What is the gold's characteristics on gap filling? If gap is generally not filled then what you say is true, but I will still wait for a better sign (pivot) to be formed before shifting present SAR. We are sitting on big profits, so I am not in a hurry to exit this trade without having pucca confirmation on reversal.
Bee

well said bee....from my experience of trading gold in 60mins for past 2-3 months, i've seen that gold usually fills small gaps...so reverse only when there is a very good visual pivot...in this case, once this tiny PL is confirmed, take it as a stop instead of sar...

 

[musicjunkie]

Today's low is a good place to reverse because it will be a Breakout Failure. Failures are great places to reverse. Completely agree with Prabh there

MJ-

 

[Prabhjeet]

Not talking about Gold in particular, but today's low is important because

1. It was the breakout bar after consolidation
2. Gold main Charts are showing a Gap up after prolonged upmove and all of us know by now that what does this kind of Gaps warn us about.

 

[Smart_trade]

Todays gap does not look like a exhaustion gap .Exhaustion gaps collapse in initial hour itself. Market again in a reaction mode.It will probably make a PL
before continuing the trend. We should keep the SAR to yesterdays 20:00 bar low -f till we get a better place to trail our SAR.

Entirely my view,still new in Gold .


Smart_trade

 

[Prabhjeet]

Todays gap does not look like a exhaustion gap .Exhaustion gaps collapse in initial hour itself. Market again in a reaction mode.It will probably make a PL
before continuing the trend. We should keep the SAR to yesterdays 20:00 bar low -f till we get a better place to trail our SAR.

Entirely my view,still new in Gold .


Smart_trade

ST the Gap may not exhaust today but it might open as a gap down tomorrow and then it might actually be Island reversal, very usual after prolonged trend which has all the time frames supporting it

 

[rishig38]

well said bee....from my experience of trading gold in 60mins for past 2-3 months, i've seen that gold usually fills small gaps...so reverse only when there is a very good visual pivot...in this case, once this tiny PL is confirmed, take it as a stop instead of sar...

no confirmation on the pl yet...so keep the stops where they were initially...just waiting for a PL now...

 

[Prabhjeet]

Todays gap does not look like a exhaustion gap .Exhaustion gaps collapse in initial hour itself. Market again in a reaction mode.It will probably make a PL
before continuing the trend. We should keep the SAR to yesterdays 20:00 bar low -f till we get a better place to trail our SAR.

Entirely my view,still new in Gold .


Smart_trade

BTW, I have rarely seen a Pivot formation immediately after breakout from a Trading Range like yesterday, it would have been better if there were 3-4 continious bars after the Breakout before the reaction started.

Just my view, as newbee to Gold as you ST