Going With The 60min Flow!!!

[Saint]

Satya,Saint or others following this thread please help me to clear a confusion in my mind.

5 min bar rule is to be used in case of a visual gap against our position.We were long in Nifty F and it gapped against us . When we say visual gap I thought the gap against us which is a gap away from the yesterday"s range. We had a gap from yesterdays closing but not a visual gap when you consider yesterdays(Friday) full range. So in this case do we use 5 min rule or normal PH/PL rule ?

If we are using 5 min rule the first 5 min bars low is broken.Are we short with todays high + space as stoploss ?

I am short on 30 min pivot with yesterdays high + space as stoploss on normal PH/PL with 30 min look up.

Trade well !!!

Smart_trade

As always,great question........The answer to your query would be: Depends on your strategy.

TRADING THE 60MIN FLOW BUT LOOKING AT THE 30MIN CHARTS IN A VERTICAL MOVE:Here,we have a gap down......visual and below the pivots on the 30min charts,it staged a mini rally,hardly covered the gap,could not get past the pivots,you are short from 4317-15=4302.If you are not comfortable doing this,then your short is 4302(lod)-15=4287.And thanx to that mini rally in the morning and then a fall,we have a lower pivot high to latch our stops on to.Stop and reversal is at 4339=15=4354

But keep track of the 30 yet again for a lower pivot high to revert and get back in long if we get another vertical move down.

A visual gap is exactly what it sounds like....something that you can see with your eyes zooming out your charts.It can be above the pivot which means you don't have anything to do till pivots break.And it can be below your pivots in the opposite direction to your present flow,then the 5min rule comes in.


In summary:You are either short at 4302(taking the first break of the higher highs and lows),or short at 4287,below the lod.........either way,your stop and reverse is the hod+15=4354

Saint

 

[Satyen]

We have now confirmed Pivot at HOD

Regards
Satya

 

[man4urheart]

Satya Chart?

 

[Satyen]

Satya Chart?

Hi man4urheart

Regards
Satya

 

[Satyen]

Hi All are we forming new pivot low if current bar dont break Blue line then we get our next ADD point ???

Regards
Satya

 

[man4urheart]

Add will be 4275-7 = 4268 ?

 

[man4urheart]

Summarizing Current Position Of NIFTY

SHORT Since : 4287
Stop Loss: 4339+ 15 = 4354
Profit/Loss in Current Trade = 4354-4287 = -67 Points

First Add will be 4275-7 = 4268

We change our Position to LONG if NIFTY Trades above :4354

 

[Saint]

NIFTY in the process of making a lower pivot high?Not confirmed as yet till we see the next 1-2 bars.

JP Assoc,GMR,ABAN:No changes to the long positions.

Saint

 

[rkkarnani]

If todays low not broken till 3 PM, we shall have the 1 PM low as new PL, below which we can add giving 7 point room.

 

[Saint]

If todays low not broken till 3 PM, we shall have the 1 PM low as new PL, below which we can add giving 7 point room.

Yep.....with the current bar's high +15 as your new stop and reverse point.

Saint