Going With The 60min Flow!!!

[columbus]

SL on Aban and JP
Kindly correct me if I have faltered...

In case of JPassociates some more weakness is left and I remember writing somewhere ABAN may go down to sub-2000 levels. After 6-days fall in row, perhaps it is time to change my outlook.Accumulate ABAN on every dip now.(27/8/08).The Impact of 6-day fall in a row is severe ,provided the fall is heavy, but in this case ,the magnitude of the fall is rather LOW.Moreover some accumulation is taking place in this counter.

 

[kaarsen]

Re: Questions from juniors on"Going with 60minute flow"

thanks VPS

i have downloaded the book teach a man how to fish.

hope to hit your forum for clarifications on the subject soon.

thanks saint for the writeup.

 

[musicjunkie]

Correct on ABAN,correct on JPA stops,......incorrect on the JPA adds.

Will post ABAN and JPA tonight.

Saint

Looking forward to it Saint , IF anything needs to be mentioned for trading in Jpa and Aban apart from the usual 60 min flow trade kindly mention it please.

MJ-

 

[Saint]

Rakesh,

I haven't forgotten your query.Will get to it over the next couple of days.

Saint

 

[Saint]

Hi MJ,

Every time we are stopped out and we reverse to the opposite direction........leave the previous pivots alone.The only thing to you that assumes paramount importance is the previous pivot.

The question you are constantly asking yourself is,"I am in a downtrend.
Where are my previous pivot highs in this downtrend?" That's it.

The moment the downtrend is over and you are now in an uptrend,you are focussed only on the previous pivot lows in this uptrend.

As said in the first post...........This thread is all about looking at things in the NOW,with a glance at the previous moment but no further than that.

Saint

 

[Saint]

Saint Sir, Later on at 7.20 PM in reply to MusicJunkie, you have mentioned that his level of SL for ABAN is correct too!! He had mentioned it as 2249/-
Which one is valid sir!!! Kindly clarify!
Regards
Shravan

Ouch,Shravan,my mistake.......sorry about that.Thanx !!

Lower pivot highs stand now at 2192.Reversal at 2212.

Saint

 

[Saint]

Not a very good July.....frustrating month.August the last fortnight put up something decent on the table.

Saint

 

[vvvv]

hi saint,
there are so many times where u have double top failures.prices just seem to break above the previuos pivot high but not eunuff & then it starts going down after tht.sumtimes u have a 3 - 4 degree trendline angle between the 2 tops & the prices tumble down after a reversal candle pattern..wht strategy do u use for dealing with these failures.same goes for double bottom.can these pattern failures be caught by luking at the rsi & volume.
also u use a short term & long term moving avg.are these sum special avg's.why do u need to use them??

 

[musicjunkie]

Hi MJ,

Every time we are stopped out and we reverse to the opposite direction........leave the previous pivots alone.The only thing to you that assumes paramount importance is the previous pivot.

The question you are constantly asking yourself is,"I am in a downtrend.
Where are my previous pivot highs in this downtrend?" That's it.

The moment the downtrend is over and you are now in an uptrend,you are focussed only on the previous pivot lows in this uptrend.

As said in the first post...........This thread is all about looking at things in the NOW,with a glance at the previous moment but no further than that.

Saint

Thank you Saint for your Charts and advice. The time you have taken to post them, thank you.
Keep it simple is all that shouts from your charts, no eagerness , just plain and mechanical.....

Have yet to see Aban or Jp in free flowing months, but since you mention July was frustrating then I guess such congestion trades only happen occasionally, maybe ill be lucky to see a free flow in September.
You are Really a Saint!

MJ--

 

[Saint]

hi saint,
there are so many times where u have double top failures.prices just seem to break above the previuos pivot high but not eunuff & then it starts going down after tht.sumtimes u have a 3 - 4 degree trendline angle between the 2 tops & the prices tumble down after a reversal candle pattern..wht strategy do u use for dealing with these failures.same goes for double bottom.can these pattern failures be caught by luking at the rsi & volume.
also u use a short term & long term moving avg.are these sum special avg's.why do u need to use them??

No,those mov.avgs are never used........the eye has become so focussed on the pivots that it missed out the presence of those ma's till you pointed it out.Must remove it to prevent confusion for others.

To those,who are following the Flow using Pivots,no mov avg is required.Neither is Double Top/Bottom failures,pattern failures or RSI looked at.

And the failures first form a lower pivot high to break down after an up move,............enough for us to be all over it and take advantage of that fall.

All the Best.Shall catch up with you later.Market opens in a minute.

Saint