Going With The 60min Flow!!!

[vpsarathy]

In my opinion the lower end of the bar should be at a higher level than its immediate neighbours. For pivot lows, look at the higher end being above the neighbours. This is what Saint said. Am I right Satya??

 

[musicjunkie]

SL still @ 4458+15 = 4473, no modification yet as per my understanding.

 

[vinst]

Once again add to short level has been pushed down on NF by tricky opening. just like yesterday.

vin

 

[musicjunkie]

Yes Vinst,
IF NF contines to rise will short first break of low of previous bar.

 

[vinst]

An attempt to understand the entire position and the new "tweak", which I might add is Brilliant! If the chart does not make sense and am completely of course please tell me,

do not want to be the cause of any confusion.

MJ,
Perhaps this can be examined for some time for repeat behaviour and then , if Saint agrees, can be made a valid part of 'add'.
In my view it is a very good way to adding to position with reduced risk which, still, is contrary to the spirit being followed in this thread. As I see it, spirit is to add on CONFIRMATION of weakness (for short, opposite for longs).

regards,
vin

 

[Prabhjeet]

Yes,Prabhjeet,RK.......Best place for an add on 13th since NF owes us an add at around 4528,would have been at 4551,the break below that 2pm hourly bar.

But did not want to introduce the tweaks and cause confusions.......do not now short every break of a previous low and not wait for pivots to crack coz that's what Saint said.......that's not what is said.Simply that,there is an add at 4528.Price gapped down and went back to the 4528 levels,and kept going up.Not comfortable to add there.The first breakdown would have been the place to add to shorts.viz 4558-7=4551.

If none of the above is understood,.......simply ignore and not add.

Saint

Vin we are in the same condition & the above quoted post by Saint how we should go about it

 

[rakeshluthra430]

Vin,

August has been a great month so far just running along with the Flow....... following what this thread has tried to communicate,........but if the above are the results you are getting,there is a problem somewhere.

Believe me when I tell you that this method has its losing months and weeks,it has its flaws,it has its problems.......but the moves of August so far are no threat to this method.


Will post a month that is a real nuisance to this method where you can take substantial losses.

That month will come soon .......but so far,this month is not yet that month .

After some backtesting...and some more backtesting, I could find only May 2007 to be a month giving us a loss with this method....(though that too shows a minor profit of 4 pts...without brokerage etc)...though August 07 still needs to be tested by me.

Here are the trades and results. Please do point out whereever i have gone wrong. The idea here...as all will appreciate...is to critically examine the method in its bad months...
Will follow this up with chart of August 07...which "visually" looks difficult.

Thanks,
Rakesh

 

[Saint]

This is an attempt to get the doubts cleared. It seems my doubts emanate from the definition of a pivot that i have formed in my mind!!!

Satya had very kindly tried his best to clear my doubts, even went to the length of drawing artificial bars to make things clearer for me, but seems there is some mental block hindering me!!!

I have tried to follow Saints advise : "Go with the eye"!!!

I am posting 18th August charts at various times :

This is the one at 1 PM, after 1 PM bar was complete :

Chart from 11 AM onwards : (after completion of 11 AM bar...)

This is the chart at close:

RK,

Thanks for the charts.......we got the move up on both example 1 and 2.The hourly bar on Example 1 closed strong.The hourly bar on Example 2 reversed and formed a tail.That is not the issue.We then got the down move on Eg 1 and forming a pivot.Not yet a down move as of yesterday on Eg 2.

Today we got that move with a gap down........Now that bar in Eg2 has become your new lower pivot high.

Saint

 

[Saint]

New lower pivot high now at 4439.

Stop and Reverse point at 4454.

Saint

 

[Saint]

After some backtesting...and some more backtesting, I could find only May 2007 to be a month giving us a loss with this method....(though that too shows a minor profit of 4 pts...without brokerage etc)...though August 07 still needs to be tested by me.

Here are the trades and results. Please do point out whereever i have gone wrong. The idea here...as all will appreciate...is to critically examine the method in its bad months...
Will follow this up with chart of August 07...which "visually" looks difficult.

Thanks,
Rakesh

Hmm.....was a good month actually.Will put it up later in the night,Rakesh.

Saint