Re: 60min Flow Trades for the Week: Saint's Method
Posting Nifty Futures 60 min flow chart for friends who are new to this method.Todays market action was important and thought that learners must understand todays trades as they are fresh in their minds.
We were short when we came to trade today. Our trailing SAR was 2692 +f.
Market opened with a visual gap against our position today above our SAR and 5 min/gap rules came into play as it had opened against our position ( which was short).We let the first 5 min bar get formed. The first 5 min bar high was 2715 and low was 2701 and it made a bullish white candle.
We reversed to long above high of first 5 min bar + gap filter ie 2715 + 20 to 25 as per the gap filter each one follows. The SAR for this long position was LOD -gap filter which was low of first 5 min bar -gap filter.
We added at points shown and trailed our SAR as shown in the chart. At the end of the day we had initial long + 2 adds position.
Hope the above will help the beginners to understand visual gap/5 min rule and its practical application.
Best Wishes,
Smart_trade