Going With The 60min Flow!!!

[rakeshluthra430]

Hi rakesh if u want to trade according to daily chart then its fine to enter 60 min and then continue with daly stop loss after u go into profitable situation so i think its no harm to fine tune our entry in lower time frame while we trade on higher time frame

this is my veiws lets wait for others

Rgards
Satya

Hi Satya,
This is what I had said in my first post:
http://www.traderji.com/equities/21903-going-60min-flow-17.html#post183452

The difference between fine tuning eod entries with the help mof 60 min is in the Initial Stop losses set... and sometimes that is a big difference. As you said, lets wait for others to comment as this minor change can have a big difference in our trading results.
One more thing: Here I dont mean that we take a 60 min entry which is anti-trend the main EOD trend...this should remove the scepticism.

Waiting for comments
Rakesh

 

[gkpc]

Hi Gautam,
What you are saying is the logical solution to this problem...even I would feel tempted to do that.
But I had a doubt and thats why I asked... it is logical solution, but is it the BEST solution??? Thats my doubt. Because... if the trend is to continue..it may give several exits on a 15 minute chart...which would be avoided if we look only at eod charts. Even if 30% of shares were to have a trend on daily charts, that would cover up with the 70% times when we exit early...
2 more aspects here: Pyramiding...which would be difficult in the 5 or 15 min charts.. and Re-entry... ok you may re-enter once you exit on 15 min.. but how many times...apart from costs...there is psychological draining.

Nothing to suggest that my view is correct and your wrong...just my point of view. Hope you will not mind it.

Lets wait for Saint to comment.

Rakesh wud have to rethink, as it is, i am not very much versed with Pivots, trying to catch the basics!!! Will post my view when i 'form' it!!
Thanks!!!
Gautam

 

[moneygurukul]

Hi Satya,
This is what I had said in my first post:
http://www.traderji.com/equities/21903-going-60min-flow-17.html#post183452

The difference between fine tuning eod entries with the help mof 60 min is in the Initial Stop losses set... and sometimes that is a big difference. As you said, lets wait for others to comment as this minor change can have a big difference in our trading results.
One more thing: Here I dont mean that we take a 60 min entry which is anti-trend the main EOD trend...this should remove the scepticism.

Waiting for comments
Rakesh

If we are trying to buy on dips or selling rallies with the help of 60-min chart, the initial SL should be the pivotal low or high of 60-min chart only. If we are trying to anticpate the trend change on daily and taking an anti-trend position, then the Initial SL should be the recent low made on EOD chart.

 

[gkpc]

Satya,milky, Can the high of 12 noon bar be considered as Pivot high....wud the short be reversed to long above this with todays low as the SL!!

 

[moneygurukul]

Satya,milky, Can the high of 12 noon bar be considered as Pivot high....wud the short be reversed to long above this with todays low as the SL!!

As per the method described in this thread, yes! However, it's only a negation of down-trend and up-trend is yet to be resumed on 60-min NF chart.

 

[gkpc]

As per the method described in this thread, yes! However, it's only a negation of down-trend and up-trend is yet to be resumed on 60-min NF chart.

Thanks MG, Then can we say that Uptrend wud commence above the high of 1 PM bar yesterday!!! > 4725.80

 

[lvgandhi]

At 12:00 pivot high was 4636. Once it is broken, I feel uptrend is started. Or should we wait for higher pivot low and then breaking of previous higher pivot before higher pivot low?

 

[moneygurukul]

Thanks MG, Then can we say that Uptrend wud commence above the high of 1 PM bar yesterday!!! > 4725.80

For uptrend we will need one higher low, i.e., a low pivot which is higher than today's high. Yet to form on 60-min chart.

 

[moneygurukul]

At 12:00 pivot high was 4636. Once it is broken, I feel uptrend is started. Or should we wait for higher pivot low and then breaking of previous higher pivot before higher pivot low?

Uptrend will be confirmed only after higher Pivotal High (Made above the 12 Noon Bar) and higher Pivotal Low (Awaited). Satisfaction of just the first condition do mean that the downtrend is invalidated but it does not establish an uptrend.

 

[rakeshluthra430]

Uptrend will be confirmed only after higher Pivotal High (Made above the 12 Noon Bar) and higher Pivotal Low (Awaited). Satisfaction of just the first condition do mean that the downtrend is invalidated but it does not establish an uptrend.

Isnt this rule applicable for EOD charts? I thought 60 min does not look for any references as per Saints method.