Going With The 60min Flow!!!

[Smart_trade]

Re: Another chart.

ST Sir,

A question regarding a chart you posted.

The entry is on break of PL,Amit.

When we were beginners and learning this method,the pivot H defination was lower highs on either side,etc ....but as the group became more skilled is using this method,the defination of pivot is no longer open palm,middle finger and all that...Pivot to us is a point from where matket changes its swing.And train your eyes to see this kind of pivots.

In the circle marked by you on the chart,the market was coming down,then changed the swing (not the trend) to up and printed a bullish candle,went up till top of this candle,changed the swing to down and broke the low of the bullish bar to resume the downtrend....Thus the low of the bullish bar becomes a PL and high becomes a PH. So after the low of the bullish bar inside the circle is cracked,SAR to be shifted to high of that bullish bar.

Hope you are able to see what I am visualising....

Best wishes,

Smart_trade

 

[Smart_trade]

Re: 60min Flow Trades for the Week: Saint's Method

Hello Senior and ST Sir,

Have one chart in the attachment. I understood the explaination regarding pivots and have used this knowledge in further study of charts.

In the attachment is an Aban hourly chart. Pls let me know if I have made any wrong entries or have wrongly placed SAR or if any concept is amiss.

Tks

PS: Another clear chart is also attached, would assist the examiner is drawing lines and clearly pointing out any correction.

This is a good puzzle....waiting for others to come in on this and share their views.....

ST

 

[Smart_trade]

Re: Live discussion Saint's - 60 minute flow

ST Sir,

A question. Regarding this above concept of Gaps.

If the situation is reverse. We were short instead of long and there was a gap down... and the first bar of day is green... do we go long over this green bar? Or does this concept apply only for uptrends?

No Amit....the our actions are different in case of up gap and down gap above/below our stops....this is because that is the was market behaves in up/down gaps. In your example,we will add to shorts below the first bar low....not reverse above high of first bar irrespective of the colour of first bar...following extract from TS will make it more clear...here we are on pivots and 2 bar rule.....

Scenario 1:You are holding Short positions in NF,and market gaps down visually and below the existing pivots. You would add at the opening bar low less filter (say 7 in case of nifty). The stops then are moved as per the 2 bar method or pivotswhichever gives a closer stop. Wait ideally for a lower pivot to form to get a better Reversal point.

Smart_trade

 

[TFL]

Re: Live discussion Saint's - 60 minute flow

No Amit....the our actions are different in case of up gap and down gap above/below our stops....this is because that is the was market behaves in up/down gaps. In your example,we will add to shorts below the first bar low....not reverse above high of first bar irrespective of the colour of first bar...following extract from TS will make it more clear...here we are on pivots and 2 bar rule.....

Scenario 1:You are holding Short positions in NF,and market gaps down visually and below the existing pivots. You would add at the opening bar low less filter (say 7 in case of nifty). The stops then are moved as per the 2 bar method or pivotswhichever gives a closer stop. Wait ideally for a lower pivot to form to get a better Reversal point.

Smart_trade

So far I was applying the below for SHORTs too.

Scenario 2:Scenario 2:You are holding Long positions and market gaps up visually on your 60min charts. Wait for the first bar to close. If this bar is Red….meaning thereby it has a closing lesser than the opening……reverse to Shorts at this opening bar low-filter (20points say for Nifty). If the subsequent bars keep going higher, nothing to be done except Adding at the opening bar high plus filter and then moving the stops to the opening bar low.

i.e., We are holding Short positions and market gaps down visually on your 60min charts. Wait for the first bar to close. If this bar is GREEN….meaning thereby it has a closing HIGHER than the opening……reverse to LONGs at this opening bar HIGH-filter (20points say for Nifty). If the subsequent bars keep going lower, nothing to be done except Adding at the opening bar high minus filter and then moving the stops to the opening bar HIGH.

Do you meant it stands cancelled??

 

[Smart_trade]

Re: Live discussion Saint's - 60 minute flow

So far I was applying the below for SHORTs too.

Scenario 2:Scenario 2:You are holding Long positions and market gaps up visually on your 60min charts. Wait for the first bar to close. If this bar is Red.meaning thereby it has a closing lesser than the openingreverse to Shorts at this opening bar low-filter (20points say for Nifty). If the subsequent bars keep going higher, nothing to be done except Adding at the opening bar high plus filter and then moving the stops to the opening bar low.

i.e., We are holding Short positions and market gaps down visually on your 60min charts. Wait for the first bar to close. If this bar is GREEN.meaning thereby it has a closing HIGHER than the openingreverse to LONGs at this opening bar HIGH-filter (20points say for Nifty). If the subsequent bars keep going lower, nothing to be done except Adding at the opening bar high minus filter and then moving the stops to the opening bar HIGH.

Do you meant it stands cancelled??

Scenario 2 is ok...still holds...no conflict with scenario 1 but treatment when you are long and market gaps above your stops is different from if you are short and mkt gaps down below your stops....no mirror image....this has been there for long Hari,....why this wrong understanding ?

ST

 

[jamit_05]

Re: Another chart.

The entry is on break of PL,Amit.

When we were beginners and learning this method,the pivot H defination was lower highs on either side,etc ....but as the group became more skilled is using this method,the defination of pivot is no longer open palm,middle finger and all that...Pivot to us is a point from where matket changes its swing.And train your eyes to see this kind of pivots.

In the circle marked by you on the chart,the market was coming down,then changed the swing (not the trend) to up and printed a bullish candle,went up till top of this candle,changed the swing to down and broke the low of the bullish bar to resume the downtrend....Thus the low of the bullish bar becomes a PL and high becomes a PH. So after the low of the bullish bar inside the circle is cracked,SAR to be shifted to high of that bullish bar.

Hope you are able to see what I am visualising....

Best wishes,

Smart_trade

Okay so each time the swing changes, depicted by an anti-trend bar with a largish body, we consider that as an add oppurtunity. But the problem is the SAR.

If we were to move SAR to this white bar high, then SAR seems very vulnerable compared to other more solid pivots of classic formation involving several bars. I mean, if I was all loaded with adds and were to move SAR to such a feeble place then it may be risky..... what is your opinion on that?

I remember seeing one of Neeraj's chart where he refused to add over a multiple bar pivot high because that wasnt convincing enough. He thought that was just feeble consolidition as opposed to a solid pivot where he would like to move his SAR. Let me see if I can find it again to post it.

Pls provide your views. This subject of pivot has always been subjective/illusive.

 

[TFL]

Re: Live discussion Saint's - 60 minute flow

Scenario 2 is ok...still holds...no conflict with scenario 1 but treatment when you are long and market gaps above your stops is different from if you are short and mkt gaps down below your stops....no mirror image....this has been there for long Hari,....why this wrong understanding ?

ST

Terribly mis-interpreted... I didn't noticed that change with you all position from me as I'm not regular full-timer till now...not synced with your positions. But not really got any big issues due to my misinterpretation. Now thanks ST for correcting this.

 

[jamit_05]

Re: Live discussion Saint's - 60 minute flow

Scenario 2 is ok...still holds...no conflict with scenario 1 but treatment when you are long and market gaps above your stops is different from if you are short and mkt gaps down below your stops....no mirror image....this has been there for long Hari,....why this wrong understanding ?

ST

I thought something was fishy. Because Saint has always treated bull and bear markets differently. Even in WRBs he wouldnt use the 50% rule for downtrends. Therefore, I asked whether the mirror image also holds.

Tks ST sir... what we do without you!!

 

[TFL]

Re: Live discussion Saint's - 60 minute flow

I thought something was fishy. Because Saint has always treated bull and bear markets differently. Even in WRBs he wouldnt use the 50% rule for downtrends. Therefore, I asked whether the mirror image also holds.

Tks ST sir... what we do without you!!

Good Amit...keep posting your key doubts.

 

[jamit_05]

Re: Live discussion Saint's - 60 minute flow

Another quick question.

In miniflow, we move our filters. In the sense that if our long entry level is not hit by a white bar i.e. if it falls short... we raise our entry level over this new white bar high+filter. Right. So we move our filter in miniflow to save ourselves from limp moves.

Do we do the same in 60 min. Or do we just punch in our orders and doze off? <I'd love to doze off >