Re: Live discussion Saint's - 60 minute flow
WHEN TO APPLY GAP RULE ..
I believe every body is clear about applying GAP RULE when GAP is AGAINST our TRADE. There is no confusion over there .. in such situation we just see whether GAP has taken our area of Pivot or not ...
If taken SAR is shifted to Ist 5 min high +f ... if not taken SAR remains at previous PIVIOT +/- Filter ... this is clear ..
Confusion arises when GAP is in Our favour ....
but this is what saint has reiterated
We are in down trend .. LH-LL formation(vertical downmove) and then we have a gap down next day Allow the first bar 5min bar to form and go long if 5min bar + f trigger ... (remember trade day 1 2 3 4 concept is no longer in use as far as I remember)
but the problem is we dont get this simple LH-LL formation and hence the confusion arises ... even if we look at fridays chart first half was Lh-LL .. but then in second half market bounced back ... and today we had a big gap down ...
beside this there was a hint somewhere on the mother thread that inorder to apply GAP rule we should also consider whether first 5min bar is bullish or bearish ...
like if we are in downtrend(short) and we get a GAP down 5min bar should be bullish and viceversa when we are in uptrend(long) .. I am not sure if it is applicable in new rules or not ...
this is all I know ..
Thanks
KomaL
you didnt say anything which would hurt .. why are you feeling so ..
I just didnt have time to reply then .. wait will share with you soon ..
I just didnt have time to reply then .. wait will share with you soon ..
I believe every body is clear about applying GAP RULE when GAP is AGAINST our TRADE. There is no confusion over there .. in such situation we just see whether GAP has taken our area of Pivot or not ...
If taken SAR is shifted to Ist 5 min high +f ... if not taken SAR remains at previous PIVIOT +/- Filter ... this is clear ..
Confusion arises when GAP is in Our favour ....
but this is what saint has reiterated
We are in down trend .. LH-LL formation(vertical downmove) and then we have a gap down next day Allow the first bar 5min bar to form and go long if 5min bar + f trigger ... (remember trade day 1 2 3 4 concept is no longer in use as far as I remember)
but the problem is we dont get this simple LH-LL formation and hence the confusion arises ... even if we look at fridays chart first half was Lh-LL .. but then in second half market bounced back ... and today we had a big gap down ...
beside this there was a hint somewhere on the mother thread that inorder to apply GAP rule we should also consider whether first 5min bar is bullish or bearish ...
like if we are in downtrend(short) and we get a GAP down 5min bar should be bullish and viceversa when we are in uptrend(long) .. I am not sure if it is applicable in new rules or not ...
this is all I know ..
Thanks
KomaL