Going With The 60min Flow!!!

[Czar]

But ankit its not hit 2231, read Above saint clarification...

 

[Ank!t007]

Pivot enough for us to do something about it......

Sir can you please post the chart at your convenient time ?
I cant even locate the pivot low for the stop

Ankit

 

[vinst]

Provided this hourly bar closes on the up........and then yes,a fall to new lows is your add.The high of the day then becomes your new lower pivot high.

Saint

11 am bar closed up, though not at its highs.

vin

 

[Saint]

Sir can you please post the chart at your convenient time ?
I cant even locate the pivot low for the stop

Ankit

Shall do later,Ankit.

Saint

 

[Saint]

11 am bar closed up, though not at its highs.

vin

Vin,

So we got ourselves a lower pivot high,unconfirmed thus far.......for now stops at 4410.Once price falls through,and the pivots are visually obvious,move stops to lower pivot high.

Basically,the shorts in NF are a Hold for now....

Saint

 

[Saint]

I see the opening in the chart of Satya 4355 my software says 4386, but even if we consider 4355, it'll be gap up, so then its 15+ to the high of the 1st 5 min bar, pls correct me if wrong...

Yes Czar,.......wherever price opens and you get yourself a visual gap up,add 15 to the high of the first bar.

Saint

 

[Saint]

ABAN nice moves to 2229.Our filter is Rs20 above pivot.Which is 2231.......meaning stops were not triggerred.

We are therefore still in ABAN shorts as of now.

Price in ABAN has put up a WRB on better than avg volumes,the high of the bar is 2229.We are now setting up a mini-pullback bar,most probably before a 1-2-3 continuation pattern to the up.

Our stops are now Rs 20 above the latest pivot high 2229+20=2249.....Price just has to take the pivots out and blast through the filter,it tells us strength,it gives us the conviction and confidence that we are right in reversing the position.This method is reactionary,not anticipatory.The filter has kept us in trades longer than expected,kept us from being faked out,etc.........And yet,sometimes when price takes out the filter and then falls....... well,part of trading.

Yes,the stops got pushed back.......and yes,it means our entry is later than the original 2231.All part of this method.........we sacrifice pennies to make pounds.

What if our stops are at 2231,price gets to 2229 and fails......now our new stop is at 2249,price gets to 2245 and fails,and then our new stops are 2265,and price gets to 2263 and fails............This can carry on ad infinitum!!

Actually not true........the fact that price does not have the strength to blast through is a sign of weakness.Most times than not,after a few such attempts,there is a big fall,and all's well.If it doesn't.......there is strength and if price blasts through,we are only too happy to oblige and shift directions.

So,coming to the point,our stops at 2231 were not taken out.High of 2229.New stops at 2249.

Saint

 

[alokdaga]

ABAN nice moves to 2229.Our filter is Rs20 above pivot.Which is 2231.......meaning stops were not triggerred.

We are therefore still in ABAN shorts as of now.

Price in ABAN has put up a WRB on better than avg volumes,the high of the bar is 2229.We are now setting up a mini-pullback bar,most probably before a 1-2-3 continuation pattern to the up.

Our stops are now Rs 20 above the latest pivot high 2229+20=2249.....Price just has to take the pivots out and blast through the filter,it tells us strength,it gives us the conviction and confidence that we are right in reversing the position.This method is reactionary,not anticipatory.The filter has kept us in trades longer than expected,kept us from being faked out,etc.........And yet,sometimes when price takes out the filter and then falls....... well,part of trading.

Yes,the stops got pushed back.......and yes,it means our entry is later than the original 2231.All part of this method.........we sacrifice pennies to make pounds.

What if our stops are at 2231,price gets to 2229 and fails......now our new stop is at 2249,price gets to 2245 and fails,and then our new stops are 2265,and price gets to 2263 and fails............This can carry on ad infinitum!!

Actually not true........the fact that price does not have the strength to blast through is a sign of weakness.Most times than not,after a few such attempts,there is a big fall,and all's well.If it doesn't.......there is strength and if price blasts through,we are only too happy to oblige and shift directions.

So,coming to the point,our stops at 2231 were not taken out.High of 2229.New stops at 2249.

Saint

Fantastic - So well explained Sir !

 

[milkyblack]

Ankit/MB,

Bring stops in ABAN down to 2231 and reverse long.

Saint

ps:If you get the reversal today,move into Sept Futs.

Thanks Saint for this suggestion of getting into Sep Contract... I otherwise would have got in the Aug and would have rolled over on 28th ! Thanks a lot for this!

Is it like next time onwards in this type of situation we will do this on the last week of expiry if we get a reversal call?

Thanks again as always

Regards

 

[vinst]

we have a higher PL of 4290 on NF. If it comes to that, now we can add shorts below 4283.

vin