Going With The 60min Flow!!!

[vvvv]

Hi MB,

There is a clear pivot at 4333 formed on 19th. Should we consider this as pivot or no? IF no, will you kindly explain? I am a recent follower of this system and doing paper trade only. So asking for the sake of knowledge only.

Yash

thts a major pivot low at 4333.it has to be considered

 

[Saint]

Hi MB,

There is a clear pivot at 4333 formed on 19th. Should we consider this as pivot or no? IF no, will you kindly explain? I am a recent follower of this system and doing paper trade only. So asking for the sake of knowledge only.

Yash

Yash,read up Naresh's post above.....the one from Prabhjeet.

We are in a trade short.....we make lower pivot highs and lows......the reversal to long is when the first previous pivot high is taken out to the up.Now we are long......That previous trade is history.We no more look at the information from the previous trades......this current trade is all there is that we have with us.The NOW alone is,this ongoing trend is all we care about,all that we are really concerned is whether this ongoing trend makes higher pivot highs and lows.........and nothing else.A break of the previous pivot low,and this long trade is over.We are back in short positions........

If you were following the same method using the daily charts.......then yes,that is a pivot in an overall dntrend.Gap down today and falls through......add to shorts below that pivot low.

But we are trading the 60min Flow........that pivot is now 2 trades back and is ancient history.All that we care about are the formation of pivots in this particular move............so that we can add and bring stops down,and basically ride this move.

Some great posts from you,Yash........keep em coming.

All the best!
Saint

 

[Saint]

thts a major pivot low at 4333.it has to be considered

Welcome back,vvvv........been some time since I saw your posts.Could be mistaken though.

Saint

ps:Read my previous post to Yash.

 

[Ank!t007]

August Series so far

Total booked P/L = +140pts.

Ankit

 

[Saint]

Prabhjeet,

Just went through the charts of some of the months as posted here before.......compared the RT data,and the 60min EOD data.There are months where returns are nearly the same......some even better.

The values and in some cases,pivots might be slightly different as compared to what is discussed here,.....but enough for us to trade.Apply the same method and go with the Flow.

Saint

 

[Saint]

Thanks RK Sir,

Good to have a conversation with you after a long time... a bit busy nowdays so unable to be regular...
Thanks a lot for your reply! Yes I am aware of the NF stop loss that happened few days back!
Okay so have to follow it I think... that is the new SL ... no other way out!

About the consolidation part! there are 4 bars with the highs almost at 2363/4 levels... So it should be one consolidation....

I would be reversing to longs at 2384..... as have followed this method earlier also.... while being with the flow!
I might be wrong in doing so... and if goes wrong.... then went wrong!

Regards

Where are you these days,MB........looking fwd to more good stuff from you.

Saint

 

[Saint]

Just a question for my understanding only. I may be wrong but does it really matter if the bars are at 11, 12, 13 hrs or 1030, 1130, 1230 hrs. The principle remains the same and it will still show the same pivots. Only problem will be that your charts will not match with others.

Pl. correct me if I am wrong.

Will not show the same pivots all the time........but enough for us to apply this method and gain.

Saint

 

[Saint]

Well , What I have gathered from the posts, Saint selects the Stocks which have 'visually clean' charts!!!! No frequent hiccups like sudden big moves and petering out thereafter.

Yes,Thanx RK......That's what I was trying to indicate.

Have a look at the JPA's and the LANCO's and take a look at DR REDDY........will give you heartache.On a good move,you may make some profits......but not before some palpitations first.

Stay clear of anything that has big moves up that fail and fall flat,multiple tails,scratchy..........when you have the option to take a pleasant boatride on calm waters,no need to be heroic and choose to take the same boat into turbulent waters.The market gives us no extra points for being brave or macho.

Never do anything the hard way when there is an easier way around......

Saint

ps:This post was meant for someone who had asked the query(buried somewhere within) to which RK responded.

 

[Saint]

Hi Saint,

Got a query... regarding ABAN SL... yesterday we had a PH at 2393... and today we had a high of 2396... So now what is our SL in this case? Do we take 2393+room as SL or change it to 2396+room?

I ask this question not taking into a/c our latest SL (if considered) as the consolidation high of 2364+room! In case this is taken into a/c then the above question turns to be null and void so lets assume that this consolidation high is not formed !

I hope my question is clear enough !

Thanks

Regards

MB,

First stop was 2393+room......price took out 2393 but did not get past our filter.2396 was the recorded high.Push your stop back to 2396 +room.

Then ABAN made a consolidation high of 2364.......new stop is at 2364+room.

Today the price failed to take out 2364 +room yet again......push the stop back again to 2368+room.

I know what is being said is not traditional and classical.......but that's the way I do it.

Saint

 

[Saint]

i have same question but in different way where do you think i can enter aban

entered aban

1 @ 2535
1 @ 2353



Is there any way we can predict that there is more shorting (nill on fno)

I sincerely pray and hope that the entries above are on the short side......and not trying to average out longs.

Saint