Going With The 60min Flow!!!

[Saint]

Re: Going with the 60min Flow!!

I have read somewhere in this forum that Saint lives in Singapore so local time there should be 12:55 (while 3:27 in India).

Used to, Mahesh.......now in India.

And time difference is 2.5 hrs to the front......maening 3:27 in India is 5:57am in Singapore.

Saint

 

[Saint]

Re: Going With The 60min Flow!!

Saint,

I again can't find 3730(minor pivot), and why 3678??? Stop at 3780, why?
My chart shows... 3692 minor pivot today 11am bar...
Stop at todays 10 am bar high... 3792
And nowhere 3678 on the 60min chart

Regards

Wow,MB,full of questions,my friend....

3780 is stop loss using 2 bar method.

3750 was that particular hourly bar low,added more shorts at 3730.

3692 was the next hourly bar low,added more shorts at 3678.


Saint

 

[Saint]

Hi Milky, In this scenario, personally I would not have gone long above 4925.... Why!!! It was a high on 10- AM bar that broke the Previous pivot high , I would wait for this high to be broekn to go Long...
About todays going long, my view is that that the 10 AM high or 11 AM high today do not qualify as Pivot!!??
Let us wait for Saint to clarify this , I would further request Saint to kindly also post the reason for his view, irrespective of the fact whether it is a pivot or it is not a pivot!!!
Look forward to a detailed reply.
I am happy that i was reasonably correct...
Thanks.

Right,Gautam.........not a pivot,therefore would have been holding shorts in NIFTY(not in Nifty actually,in JP,SESA,ABAN though).

REASON:We are trying to catch the Flow of the Trade using Pivots,we are not interested in every minor pivot formed.Major Pivots are what we are looking at......Previous Major Pivot high stands at 4896......till then,no confirmed uptrend.

On the other hand,if tomorrow starts weak,and makes a higher pivot low,and then takes out today's high of 4716,revert to longs.....A previous major pivot high has just been crossed.

Saint

 

[Saint]

Hi MB it was as normal day how was yours ?? you were saying about long trade but do we have any pivot today ??? If no then short trade is on ?? waiting others veiws

Regards
Satya

Excellent,Satya.......excellent!

Saint

 

[Saint]

Well it was not a bad day... I am not sure abt it.. waiting for Saint's views on 4689 to be a pivot or not...
And also his 2 different type of pivot teachings!

Regards

ps:- Backtesting done for NF for the month of May is +403 pts(courtsey gkpc...Gautam)

It will take some time in coming.....but shall share when I can find some breathing space....a bit is sort of explained in the answer to Gautam.....Soon!

Saint

 

[gkpc]

Right,Gautam.........not a pivot,therefore would have been holding shorts in NIFTY(not in Nifty actually,in JP,SESA,ABAN though).

REASON:We are trying to catch the Flow of the Trade using Pivots,we are not interested in every minor pivot formed.Major Pivots are what we are looking at......Previous Major Pivot high stands at 4896......till then,no confirmed uptrend.

On the other hand,if tomorrow starts weak,and makes a higher pivot low,and then takes out today's high of 4716,revert to longs.....A previous major pivot high has just been crossed.

Saint

Saint Sir, Thanks for clarifying and confirmimg.
One more query, If i had gone long yesterday above the morning high, should the 3 PM bar low be my SL!!???

 

[prabhu53]

I have a feeling the stop loss should be the low of 1 p.m,please correct me if i am wrong.
thanks

Saint Sir, Thanks for clarifying and confirmimg.
One more query, If i had gone long yesterday above the morning high, should the 3 PM bar low be my SL!!???

 

[uasish]

Hi milky, Thanks for your concern. The fire was in the same building where i hv a shop.... By gods grace no damage at all to my shop. Fire was on first floor, i am on ground. Worried about the person whose godown was gutted!!!
Just shudder to think of his plight!!!
- R K Karnani

When did it happen ? i came only in Sunday morn. was not knowing this.

 

[gkpc]

When did it happen ? i came only in Sunday morn. was not knowing this.

Ashish da, it was only yesterday afternoon (3 June)!!!

 

[gkpc]

I have a feeling the stop loss should be the low of 1 p.m,please correct me if i am wrong.
thanks

I am still too novice to correct you, but feel that if at all i take 1 PM low as SL then I wud rather take the days low as SL....just see hardly a difference in levels!!
Regard
Gautam