Neeraj,
On 17th, didn't do EOD reversal so took a whipsaw on initial position. Did you take clue from RSI to avoid it or your filter was large enough to avoid going short on that day?
Neeraj,
On 17th, didn't do EOD reversal so took a whipsaw on initial position. Did you take clue from RSI to avoid it or your filter was large enough to avoid going short on that day?
the filters and the RSI both.........i didn even go short.....to reverse eod
i was nt so happy with the pivot...it didn luk like a major pivot....wasnt a valid retracement...thou was visual.....also RSI was way above 55 in the pivot 11 a.m. bar.......u might hav seen i didn mark the same on RIL....
i had kept SAR at the previous pivot.....to giv it more room......longs r always gng to b carefull......and dey r full of whipsaws....so better b carefull......i hav seen in longs such pivots happen and gv whips....so the gud enuf filter....and the RSI helper.....check out the longs in previous situations on NIFTY....u will get the clear picture.......:thumb:
Re: 60min Flow Trades for the Week: Saint's Method
I keep 3EMA and 13 EMA on 60 min chart. On 17th March, 3 EMA did not cross down on 13 EMA to really signal a short trade.
I use this to filter out whipsaws in trending moves as an additional signal. In sideways moves ignore EMA crossovers as NF is now doing. We have to set our SARs for breakout trades now.