Going With The 60min Flow!!!

[milkyblack]

Dear Saint,

No hurries... when you are back to India after the vacation... please tell how 3747- to be taken as reversal point in ABAN? Coz, I cannot find it on the chart
I can see low of the last candle of 17th as 3756 and before that a pivot low of 3730

I again say... No hurries... please enjoy your vacation now... and then answer after you are back...
I just keep the question in the queue

Regards

 

[Saint]

How to distinguish minor or major pivots. Is it necessary for recognising a low as pivot low that pivot high needs to be taken out? I have read Saint's thread. But may be I am missing some thing. If you can kindly point out any post, I will be thankful.

Yes and no,LVG........If a high is taken out,then clear cut pivot formed....no probs there.

But presuming we get a high on NF,then we had 3-4 bars down and then it went on to put in 3 or 4 bars up,and formed a lower pivot high.......then again that is a Pivot.

But when we have 6-7 bars down,and then 2 bars up,and then a bar down,and then goes on to yake out that measely "pivot".......nope,that not a pivot,none of those tiny little pivots is that Pivot we mean.

Saint

 

[Saint]

Dear Saint,

No hurries... when you are back to India after the vacation... please tell how 3747- to be taken as reversal point in ABAN? Coz, I cannot find it on the chart
I can see low of the last candle of 17th as 3756 and before that a pivot low of 3730

I again say... No hurries... please enjoy your vacation now... and then answer after you are back...
I just keep the question in the queue

Regards

MB,

2 bar back stop........most ,if not all trades in ABAN are using the 2 bar back stop and reverse method.

Saint

 

[milkyblack]

Yes and no,LVG........If a high is taken out,then clear cut pivot formed....no probs there.

But presuming we get a high on NF,then we had 3-4 bars down and then it went on to put in 3 or 4 bars up,and formed a lower pivot high.......then again that is a Pivot.

But when we have 6-7 bars down,and then 2 bars up,and then a bar down,and then goes on to yake out that measely "pivot".......nope,that not a pivot,none of those tiny little pivots is that Pivot we mean.

Saint

Thanks Saint, very clear with the chart
You are really wonderful.
Regards

 

[milkyblack]

MB,

2 bar back stop........most ,if not all trades in ABAN are using the 2 bar back stop and reverse method.

Saint

Saint Thanks a lottttt for replying while on the move...
2bar method system basis is yesterdays i.e. 17th last hour candle low was 3756(in my chart) and prior to that 3743(in my chart)
It looks like I have some problem with the data
I assume you are reffering to the pen ultimate 60min candle of yesterday i.e. 3pm bar...

Thanks again

Regards

 

[Saint]

Saint Thanks a lottttt for replying while on the move...
2bar method system basis is yesterdays i.e. 17th last hour candle low was 3756(in my chart) and prior to that 3743(in my chart)
It looks like I have some problem with the data
I assume you are reffering to the pen ultimate 60min candle of yesterday i.e. 3pm bar...

Thanks again

Regards

ah,3743 in yours.....3747 in mine.Yep,3pm bar low.

Saint

 

[milkyblack]

ah,3743 in yours.....3747 in mine.Yep,3pm bar low.

Saint

Got it Saint

Your data also looks like to determine the trend reversal earlier than others ..... just like you

Thanks as always !

Regards

 

[arjunbhishm]

Hi Saint,
I am also a Technical Analyst in one of the top 8 leading firm in India. For the first time I have read your article very deeply. You really have sound knowledge and further you have good trading plan. Our main focus should by " How to day trade and how to select stocks for the day trade" because nearly 75% of the volume is generated by day traders. So the art of Day trading and finding important stocks is very necessary so every trader can get profit from it. I hope you may do some new in this regard.
Thanks,
Arjun

 

[lvgandhi]

Yes and no,LVG........If a high is taken out,then clear cut pivot formed....no probs there.

But presuming we get a high on NF,then we had 3-4 bars down and then it went on to put in 3 or 4 bars up,and formed a lower pivot high.......then again that is a Pivot.

But when we have 6-7 bars down,and then 2 bars up,and then a bar down,and then goes on to yake out that measely "pivot".......nope,that not a pivot,none of those tiny little pivots is that Pivot we mean.

Saint

Thanks for your clarification. Enjoy your vacation.

 

[milkyblack]

Hello everyone,

Short initiated NF based on 60min, due to gap down... entry below 4505.... SL 4657+
CMP 4500

Regards