Going With The 60min Flow!!!

[Ank!t007]

prabhjeet sir thanks for keeping us informed all the day. I'm having some problem with rt data so was not able to spot the pivots today.

Ankit

 

[Ank!t007]

Today ABAN was almost 5% down so now we move our stop to 2461+20 = 2481 following the 2 bar method.

Hey milkyblack if you are around here please confirm the stop for ABAN.

Ankit

 

[rkkarnani]

Today ABAN was almost 5% down so now we move our stop to 2461+20 = 2481 following the 2 bar method.

Hey milkyblack if you are around here please confirm the stop for ABAN.

Ankit

Ank!t, My view :
I dont know how you got the figure of 2461!!! (ANy chance you are following Cash charts)

In my ABAN futures charts all the bars starting from the 10 AM bar yesterday made lower highs and lower lows , till the last bar which made a slightly higher low!!! SO there was no chance of a Pivot getting formed, so we look at 2 bar funda for our SL!!
As per my understanding of the 2 bar funda, our SL is now at high of 1 PM bar + room!!!!
High i my chart is 2480 at 1 PM bar!!!
Prabhjeet, Milky, Satya or any one please comment!!!

 

[rkkarnani]

A beautiful post by Ashish da in Nifty Thread : The Post is copied below!!!!

and the link to the post : http://www.traderji.com/derivatives/18953-nifty-futures-trading-1083.html#post204589

uasish;204589]

Plz dont equate me with a Head Master of this Thread.

This is a vibrant thread becoz of ALL of your participation,at Mkt time LIVE with our respective views & Trades.
Trading is stress full some times few lighter vein posts are but natural.

Few humble opinion ,things which happened with me ,may distract us & the Thread :=

1) Any "Intraday" Trader needs greater self motivation to doggedly pursue the initial treacherous path,where he/she is absolutely alone.
The self esteem;subconciously etched in the psyche due to our past life's achievements in academic & proffessional life,gets mauled by Mkt ,(consistently time & again,with few BIG losses inbetween few Wins).
At those moments a trader looks for direction (dumbs who did'nt quit till then)
he/she seeks in the internet,in the book,for any meaning full direction or path to success.
After some time ;like in a Breather phase of a runner,the Trader seeks some type of Recognition amongst his/her fellow traders,as some type of invigorating tonic,for his/her next lap to be runned.
He/She then becomes some what confident to inform the Trades LIVE on Mkt time.
2) In this phase (still vulnerable mentally) the new variety of sophisticated Tipsters jumps in & the Trader really gets some money trading those Calls,the Quest gets Lazy & the Trader becomes a PAST tense.
3) Few Real Gr8 traders ,who are actually success full upto this point in their Trading life,they gets lots of Follower & for this psychophancy,the Gr8 Trader slowly starts beliveing what he/she has acvd. is super human hence he/she has to protect the 'Copy Right' of that ATM machine,he/she feels uncomfortable when outside the inner circle.BAH that machine will stop anytime,Mkt never is static todays concepts/ theory/approach will change over a period of time.

Hence sometimes with my subjective mind's eye ,some times i tend to become rude but my only Humble submission except the point no 1 plz refute & rebuke the point no 2 & 3.

Let us Plz keep this etched in our Mind,YES we can do & we will do it in our own suitable method no prescribed method but our own Individual method.

Another very Imp. point all Grandoise & Pompous associated with a Gr8 Trader is ONLY can be Tested when he/she puts LIVE Trade on Mkt each & everyday & can show Money everyday upto a minimum of 60 to 90 days,then only then he/she is Gr8.

 

[pakatil]

Dear prabhjeetrana, ccmb420,

Honestly no hard feelings friends. I admire your knowledge. It is a pleasure to read your posts.

ccmb, please don't apologise. No need. After all every one of us is expressing his views as he understands the subject.

OK friends, let us get on with the 60 Mins Flow

Cheers

 

[milkyblack]

Today ABAN was almost 5% down so now we move our stop to 2461+20 = 2481 following the 2 bar method.

Hey milkyblack if you are around here please confirm the stop for ABAN.

Ankit

Hi Ankit,

I cannot locate 2461 on my chart... It is 2480+20 =2500 according to the 2 bar... as of now!
If move continues... SL will change accordingly!

Regards

 

[musicjunkie]

PH of 4591 made? where are your SL now

 

[Prabhjeet]

prabhjeet sir thanks for keeping us informed all the day. I'm having some problem with rt data so was not able to spot the pivots today.

Ankit

Ankit drop the sir part, all of us are colleagues here.

Gap down opening today, so now the downtrend is more or less confirmed, our job is to take the meat out of this trend.

Saint would have loved to add on this gap down but I am not sure how do we add on these gaps so lets for the moment forget adds. We would be looking for new pivot hi & lo today.. Our stoploss remains same as yesterday 4669

Regards

 

[rkkarnani]

Ankit drop the sir part, all of us are colleagues here.

Gap down opening today, so now the downtrend is more or less confirmed, our job is to take the meat out of this trend.

Saint would have loved to add on this gap down but I am not sure how do we add on these gaps so lets for the moment forget adds. We would be looking for new pivot hi & lo today.. Our stoploss remains same as yesterday 4669

Regards

U are correct, its more or less confirmed... strong confirmation would have been breaking the opening low!!!!

 

[lalpar]

MARKET BEHAVES IN THE MOST UNEXPECTED WAY!!!The downtrend is not yet confirmed!!