Going With The 60min Flow!!!

[milkyblack]

Re: Going With The 60min Flow!!

Hi MB
yes i think if we close above pivot then its more confirmed .....

we may have differnet situation at the time of break out

1- We may have GaP Up/Down from the pivots
2-we may have a toping tail Pivot break out
3- we may have a break out closes above the pivot
4-we may have a break out like we open above the pivot then closes below the pivots

Most importanty if we consider that close above pivots are confirmed then some time next bar kills like it negate all the move by the break out bar

Again if you want to confirm the break out by the closing basis then you may miss the WRB at the point of break out if it happens

what if we have a topping tail break out we are out considering as a false break out and wait for next bar closing basis ( coz we afraid this may not repeat gain) and it turns out to be WRB

again right now i m doing buy just above pivots ...
if it a GAP then wait for 5 min if it breaks out to upside then go long if it a 60 min higher pivot break out but in this case risk is higher as SL is bit far away

So waiting for saints veiws on break outs

A charts attached and waiting your comment

regards
Satya

Hi Satya,

Thanks a lot for sharing your knowledge with the help of diagram... it was really good to know the different types of pivot brk outs...

Basically what is my view on these types of pivot brkouts is that

A> If there is a gap brk out.. one can still enter the trade as far as the SL is at comfort... as why to loose the opportunity when my loss is already is calculated and fits for the trade (ofcourse not on the opening bell itself, after sometime, as all know abt it)

B> We never know when the pivot is taken over, if it is going to be a close above that or not... say it is not... but before we have decided to get in the trade, we already know our SL, so even after the pivot is broken, which turns out to be a false breakout, our SL is there to safegaurd us...

C> Missing the WRB... if we blindly follow the brk out, without giving the subjective analysis as Saint says "taking the I out of the trade/now"... we will never miss a WRB...

D> What if the bar closes above the pivot????? Does it surely tells that it is a real brk out? Can't it happen that it also becomes a false brk out? It surely can ... for that again we have our SL at place... But ofcourse most of the time it has been seen a closing above the pivot turns out to be a sucessful trade (I mean the probability) as its said closing is for the professionals

E> And as it is said and even I have expereinced that "When in doubt just get out"... I have expereinced that a doubtful trade if not exited at the that moment... turns out to be a bad trade... In my case it has... So it is better to book loss/profit(whatever is the situation) and exit....

Well all the above are just my thoughts... ofcourse there are much more learned and expereinced ones over here in this forum... who would definately correct and give their opnions and correct me.

Saint your views would be highly beneficial for all of us over here

Regards

 

[milkyblack]

Re: Going With The 60min Flow!!

Still holding the longs......JPA stops triggerred and reverted at 222.7

That is -10.8 pts...

Saint

So far:SESA Short = +115,ABAN Short=+10,JP long=-10.8

I learnt one thing from your posts... never take into consideration BOOK profit/loss but only take into a/c the BOOKED profit/loss
As in SESAGOA long... is running in profit... but you did not mention that, as the trade is still open

Regards

 

[Saint]

Re: Going With The 60min Flow!!

Still holding the longs......JPA stops triggerred and reverted at 222.7

That is -10.8 pts...

Saint

So far:SESA Short = +115,ABAN Short=+10,JP long=-10.8

Still holding JP Assoc shorts.....Stops at 223

SESA GOA:Longs stopped at 4130 and reverted to short ......+60pts on the longs.Shorts from 4130 still 2 lots only initial position.If gap down,reverting to longs over 5 min high.

ABAN:Longs stopped at 3980 and reverted to short.........-135 pts on the long trade.Shorts from 3980 2 lots initial posn,added 2 lot at 3945,another 2at 3906.Holding 6 lots at avg of 3943,stop loss at 3970......If gap down tomorrow,looking to exit all and long on first 5 min high.

Saint

Thus far:SESA Short=+115,ABAN short=+10,JP long=-10.8,SESA Long=+60ABAN Long=-135

 

[Satyen]

Dear All Pivotians i will be posting Nifty future pivots and trade from june seriese
so that we can correct each other and learn

sent a PM to saint but did not get any reply hope he will not mind and Guide us where ever we go wrong

Long at 4900 june stopped at 4796

Current trade Short at 4796

Current Pivot high at 4900


Realized Profit/Loss = -104

Chart attached


All pivotians requested to give their comments

Regards
Satya

 

[Saint]

Dear All Pivotians i will be posting Nifty future pivots and trade from june seriese
so that we can correct each other and learn

sent a PM to saint but did not get any reply hope he will not mind and Guide us where ever we go wrong

Long at 4900 june stopped at 4796

Current trade Short at 4796

Current Pivot high at 4900


Realized Profit/Loss = -104

Chart attached


All pivotians requested to give their comments

Regards
Satya

Great going,Satya........will track NIFTY with you as well from now,along with ABAN,SESA and JPA.

Saint

 

[Satyen]

Great going,Satya........will track NIFTY with you as well from now,along with ABAN,SESA and JPA.

Saint

Thank you very much

Regards
Satya

 

[Saint]

Downtrends in all continue.......All 60 min shorts in "Hold" mode.

Saint

 

[Saint]

Re: Going With The 60min Flow!!

Still holding JP Assoc shorts.....Stops at 223

SESA GOA:Longs stopped at 4130 and reverted to short ......+60pts on the longs.Shorts from 4130 still 2 lots only initial position.If gap down,reverting to longs over 5 min high.

ABAN:Longs stopped at 3980 and reverted to short.........-135 pts on the long trade.Shorts from 3980 2 lots initial posn,added 2 lot at 3945,another 2at 3906.Holding 6 lots at avg of 3943,stop loss at 3970......If gap down tomorrow,looking to exit all and long on first 5 min high.

Saint

Thus far:SESA Short=+115,ABAN short=+10,JP long=-10.8,SESA Long=+60ABAN Long=-135

ABAN all 6 shorts avg 3943,stop loss now at 3900

Saint

 

[Satyen]

Re: Going With The 60min Flow!!

ABAN all 6 shorts avg 3943,stop loss now at 3900

Saint

3900 Sl is it 2 Bars low method ??

regards
Satya

 

[gkpc]

Dear All Pivotians i will be posting Nifty future pivots and trade from june seriese
so that we can correct each other and learn

sent a PM to saint but did not get any reply hope he will not mind and Guide us where ever we go wrong

Long at 4900 june stopped at 4796

Current trade Short at 4796

Current Pivot high at 4900


Realized Profit/Loss = -104

Chart attached


All pivotians requested to give their comments

Regards
Satya

Hello Satya,May be my observations may be impertinent,please excuse, but with my limited knowledge,i request u to clarify : (and be prepared that my views may be totally wrong and I might have failed to fully understand the Pivot concept)
01. Is it correct that the HHP (higher high pivot) on 29th May, the derivative closing day was 4958.80 the high of the opening bar(My reason to call it HHP : A lower high pivot was formed on 27th May with the high of 1 oclock and 2 o clock bars as the high of the pivot.)
02. When and On which bar we went long in the June futures ???
03. The lower pivot low formed on 27th by the closing bar with low at 4828, and the level of pivot low formed on 30th May, the first trading day of june futures, was 4825, very near the level of pivot formed on 27th may. Now my query :why did we exit and reverse our position at 4796 and not below 4825?

In case the queries are irrelevent due to lack of my understanding the subject, please be frank and reply accordingly. I'll try to understand the subject again.
Here I might be interuppting the flow of things!!!
Regards
-Gautam