re: Day trading Nifty & Banknifty Futures
Altaf, Saint has taken many trades based on patterns,
Here there was a rapid rise in 5 mins without any pl forming in between,
i will show you time and time again when such trades have 8/10 hits.
the moment you see a rapid rise and high volume upthrust and then break of agg pivot it is bound to fall.
even HEM took the same exact trade and bettered it by adding below the break of LOD.
the moment adrenaline begins taking over trades, i exit my position and SOH.
af petiwala;990757]But the pivot was a minor agressive pivot, formed against a forceful high volume pivot high broken on 30 minute time frame. The best one could do was tghten stops till that pivot, going short over there is against what Saint has taught.
I remember because I was there on this forum when such trades were discussed in detail, pages over pages for each trade in live markets, and such trades were never taken, as they are extremely low probability trades.
But maybe you have developed that particular sense that our friend extrremist has developed, something like his adrenalin glands signalling his brain cortex, and what not.
That was one hilarious post though, about when to exit the markets before the stop is hit, but paying attention to your glands and what not
The previous explanation on heeding 30 mins pivots irrespective of them being between two pivots was extremely helpful. Thanks.[/QUOTE]
