Going With The 60min Flow!!!

[samthomas]

hi!
the last couple of pivots on the nifty do not stand out as clear pivots on the hourly charts...are we using the 2 bar method since it is a vertical fall..


Regards
Sam

 

[pulimath]

Hi All

Regards
Satya

Dear friend Sathya

Thank u for the chart.
I am following this thread and find the same most informatives especially the charts . i am doing the same from my office and so i have not access to real time charts or data feeds. other than the chart given by the NSE site.
In this situation the information getting through this thread is very helpful.
So I request the members of this thread who have access real time charts to notify the community whenever any material changes happen, or new pivots are formed etc... Of course such information are exchanged even now.
my request is to continue the same without break

Thank u

Pulimath

 

[segul]

hi saint,(finally leaving the sir part since u did not like)

was going through some old trades.got these doubts.how should i act upon in those regions.

regards.

 

[Ank!t007]

Ankit

 

[Ank!t007]

September so far

ABAN Stop at 2167+20 = 2197 OR
As per 2bar method Stop at 2109+20 = 2129


Ankit

 

[Saint]

hi saint,(finally leaving the sir part since u did not like)

was going through some old trades.got these doubts.how should i act upon in those regions.



regards.

a.Thanks for pointing that one out......but a few changes had been made as a result of the various questions that have come up.

-----Scenario 1:We have an uptrend and a gap up after that.......we really do not care if this is an exhaustive or continuation gap and all that.All that we care about is:Let it make the first bar.If the first bar crosses the filter zone,we go long again,ie adds.

------Scenario 2:We have an uptrend,price gaps down but not below our previous pivot lows.Meaning we do nothing.We wait and see either the previous pivot high get taken out,and add....or the previous pivot low taken out,and we stop and reverse.

.........Scenario 3:We have an uptrend,price gaps down below the pivot low,sending warning bells through our system.2 things happen from here.Either the first bar's low is taken out.We stop and reverse there.Or the first bar's low is not taken out,it sets up a rally.Follow the rally and stop and short the first previous low that gets taken out.Of course,there is always the possibility of the first bar's low taken out,filter et al,and we are short the trade,and then rallies,.....all part of trading.

For Downtrends Scenarios,reverse the above.

Your first question is Scenario 2........an uptrend followed by a gap down not below previous pivot lows.Meaning it's a Hold till either the high or the Low is taken out.

Your second question is Scenario 3......shorting at 5897 after a gap down below previous pivot lows and a rally means we observe bar by bar on the 60min charts and the moment a previous bar's low is taken out,we stop and reverse to shorts.

Saint

ps:If wondering how the gains went from 1828 pts to +2736 pts,that was in making a minor adjustment to the adds.Of adding only x3 to the initial positions.

 

[Saint]

October 2007 same as before.......no changes.

November 2007:Chart as given in the previous post ........originally 1828 pts,but with limiting the no.of adds,gains of +2766 pts.

December 2007,........limiting the no.of adds to only x3 in addition to the intial positions brought the overall profit from +1676 pts to +1244 pts

January 2007:Limiing the adds again made gains of +6213 pts as opposed to +5535 pts.

Feb 2007:+1533 points

March 2007:Not a good month......originally was +725 pts in gains,but with limited adds,+789 pts.

The next 6months charts will post later!

Basically,gap rules as mentioned in the last post.Filter same.Adds on initial positions only x3 unless there is a consolidation phase of days in between,only then are we allowed to add more than 4......Other than that,limit all trades to max 4.

So to reiterate,all adds are above pivot highs in longs,and below pivot lows in shorts as always..........but limit it to 4 positions altogether,after which just adjust stop and reversal levels.

Saint

 

[Saint]

September so far

ABAN Stop at 2167+20 = 2197 OR
As per 2bar method Stop at 2109+20 = 2129


Ankit

2 bar now in ABAN......2099+20=2119

Saint

 

[Saint]

hi!
the last couple of pivots on the nifty do not stand out as clear pivots on the hourly charts...are we using the 2 bar method since it is a vertical fall..


Regards
Sam

not clear cut,Sam.......so had to go down to the 30 to have a better look.

Saint

 

[Saint]

MJ,

Shall answer your queries on JPA tomorrow.

Saint