Going With The 60min Flow!!!

[Satyen]

Thanx Satya, u r view now that the 2 PM bar has closed!!! Do we still wait for the high to be broken!!!

Hi RK Drawn Some artificial line .....for diff. situations

From above All charts it clear that with time our stop gaining importance


Regards
Satya

 

[Saint]

Saint,

Then we do not consider the 5 bar pivot that is formed... such a nice pivot

Regards

Not saying that we consider it or not.......saying that now is still premature to make that call.We need more information,these small moves of the day don't give us that something to reverse with confidence as yet.

Maybe a couple of bars would change that perception........for now,let's wait and watch.

Saint

 

[SamFisher]

....
c.NF goes sideways and much,much longer than this......and then breaks down.
....

Saint

Thanks Saint for the beautiful explanation.

Could you please elaborate the item quoted above (I did not understand that one), under that condition why do we have to move the stops UP?

 

[Satyen]

Not yet,LVG........stops as Satya and MJ's charts indicate.

Move stops up only on 3 conditions:

a.NF moves to new highs.

b.That first move down after that first bar up of today if it had shown a more marked fall than this miniscule,practically sideways move......followed by a move up back to these levels and then that hypothetical LOD gets counted as a valid stop.

c.NF goes sideways and much,much longer than this......and then breaks down.

So far,neither of the above has happened..........we keep our stops where they are and wait for one of the above possibilities to pan out.

Saint

Thank you Saint

Regards
Satya

 

[Satyen]

Not saying that we consider it or not.......saying that now is still premature to make that call.We need more information,these small moves of the day don't give us that something to reverse with confidence as yet.
Maybe a couple of bars would change that perception........for now,let's wait and watch.

Saint

Yes Dear Saint we need a important price level to reverse our position .... as we dont use our STOP only for profit booking


Regards
Satya

 

[milkyblack]

Not saying that we consider it or not.......saying that now is still premature to make that call.We need more information,these small moves of the day don't give us that something to reverse with confidence as yet.

Maybe a couple of bars would change that perception........for now,let's wait and watch.

Saint

Okay Saint, Understood... with you then... changed the SL

Thanks as always....

Regards

 

[Saint]

Thanks Saint for the beautiful explanation.

Could you please elaborate the item quoted above (I did not understand that one), under that condition why do we have to move the stops UP?

Imagine this range lasting the whole of today and tomorrow.........getting tight,means getting to that point of breakout/breakdown.Raise stops to the low of that range-room and if triggerred,reverse.

Conversely,on a b/out,Add over the high of that range + room,with the SL at the low of the range.

Saint

 

[KomaL2099]

Hi Guys
I am trying to follow this thread for a few days now .. and very frankly its a complete bouncer to me .. I tried reading with the first post .. but that too doesnt help .. .. I am not very technical ..indeed not at all .. just know the basics ..
What I understood So far is that the system follows the 60 min chart pattern which is evident from the thread name itself .. the system follows certain rule(based on previous candle close) while changing the SL .. reversing the trade .. adding up positions .. Am I right ???
Can somebody summarise the current position in ABAN and NIFTY so that I can follow the levels from now on and try to understand from here on ..

Thanks
komaL

 

[man4urheart]

Summarizing Current Position Of NIFTY

Long Since : 4354
Stop Loss: 4346 - 15 = 4331
Profit/Loss in Current Trade = 4354-4331 = -23 Points

We change our Position to SHORT if NIFTY Trades below :4331

 

[Saint]

Summarizing Current Position Of NIFTY

Long Since : 4354
Stop Loss: 4346 - 15 = 4331
Profit/Loss in Current Trade = 4354-4346 = -8 Points

We change our Position to SHORT if NIFTY Trades below :4346

Nope,m4uh.........Long since 4354(presuming no adds taken).Stop loss at 4331.Change your position to short if it trades below 4331.

Saint