Re: Questions from juniors on"Going with 60minute flow"
Sikandar, Sorry not able to post chart now, but assure you to do it at the earliest!!
Just take a look at 21st July 2008 Nifty Futures chart!!! 60 min.chart ofcourse.
The 10 AM bar (just a 5 min. bar ofcourse)
has a high of 4142
The 11 AM bar has a high of 4141
The 12 Noon bar has a high of 4135
The 1 PM bar has a high of 4138
Though the highest level is taken as the Pivot, but when the price moves beyond this range it normally gives a big up move, hence may be considered a strong Pivot to crack, a strong resistance zone to overcome, etc. etc.
May be my calling it a strong pivot might have been confusing!!
All the best
Sikandar, Sorry not able to post chart now, but assure you to do it at the earliest!!
Just take a look at 21st July 2008 Nifty Futures chart!!! 60 min.chart ofcourse.
The 10 AM bar (just a 5 min. bar ofcourse)
has a high of 4142
The 11 AM bar has a high of 4141
The 12 Noon bar has a high of 4135
The 1 PM bar has a high of 4138
Though the highest level is taken as the Pivot, but when the price moves beyond this range it normally gives a big up move, hence may be considered a strong Pivot to crack, a strong resistance zone to overcome, etc. etc.
May be my calling it a strong pivot might have been confusing!!
All the best