Going With The 60min Flow!!!

[rakeshluthra430]

Sorry..disagree with you on the Aggressive traders bit...

So called 'aggressive' and 'purists'...both hold to their longs, even if the low of 1st 5 min bar is crossed. We will wait for a pivot low to form and then decide accordingly....but otherwise...we keep holding to our longs with a stop of 3978.
On a gap up...its clear....add at +7.

Rakesh

Adds at 4230+7.....stops remain where they were..

 

[milkyblack]

Sorry..disagree with you on the Aggressive traders bit...

So called 'aggressive' and 'purists'...both hold to their longs, even if the low of 1st 5 min bar is crossed. We will wait for a pivot low to form and then decide accordingly....but otherwise...we keep holding to our longs with a stop of 3978.
On a gap up...its clear....add at +7.

Rakesh

Hi Rakesh Thanks a lot for this ... discussion really helps!

But why not? When yesterday there was a plan that the aggressive traders were supposed to get into longs after high of first bar +20.. its different that Saint later changed the stance... as other factors were also to be taken care of... so why is that aggressive do not short the LOD?

Regards

 

[rakeshluthra430]

Hi Rakesh Thanks a lot for this ... discussion really helps!

But why not? When yesterday there was a plan that the aggressive traders were supposed to get into longs after high of first bar +20.. its different that Saint later changed the stance... as other factors were also to be taken care of... so why is that aggressive do not short the LOD?

Regards

Will discuss more after mkt hours...still juggling a few posns.

but in short....30 min rules...aggressive trades are in a long-winded move. Yesterdays gap down was after a loooooong down move in Nifty....so was apt to repel.
Today is the first day of move up (actually 2nd if u consider y'days move also)...so we stick to our guns.. If on Monday or Tuesday we get more gap ups then maybe we can do what u r saying.....but clearly not today.

More after markets. Just note---aggressive become aggressive when they are threatened or pushed.....otherwise they remain as 'pure' as they can.

Rakesh

 

[lvgandhi]

Adds at 4230+7.....stops remain where they were..

Though chart shows 4230 as high of bar, Nifty value is 4259

 

[AMITBE]

In its original form the rule is:


Gaps in the direction of the preexisting trend

1.We are long a trade, day 1,2,3,4.......big moves on the 60......trade gets vertical.....wrb's one after another....market shuts and opens with a big visual gap up. Allow the 1st bar to form, put your stop below that bar (with a bit extra) and reverse to short when triggered.


Each one do what you like.

 

[Saint]

Hi Rakesh Thanks a lot for this ... discussion really helps!

But why not? When yesterday there was a plan that the aggressive traders were supposed to get into longs after high of first bar +20.. its different that Saint later changed the stance... as other factors were also to be taken care of... so why is that aggressive do not short the LOD?

Regards

Sorry for coming out out of Silent Mode.......what was told yesterday was on a Huge Gap down after a protracted dntrend,as in days and days......so far,all as per the 60min Flow Plan,both variations......a Hold now and an ADD as indicated above.

Saint

 

[pdurai]

NF Reversal @ 4163 triggered? Am i correct?
-dURAI

 

[rakeshluthra430]

Though chart shows 4230 as high of bar, Nifty value is 4259

Personally...I trade the charts so take the figures shown in the charts...all my backtesting was done on this basis only. Yes, you can adjust to a higher figure if the difference is not more. But in this case...theres a huge difference.

I'll go with 4230+7.

 

[milkyblack]

Sorry for coming out out of Silent Mode.......what was told yesterday was on a Huge Gap down after a protracted dntrend,as in days and days......so far,all as per the 60min Flow Plan,both variations......a Hold now and an ADD as indicated above.

Saint

Thanks for coming out of silent mode...
Got your point... this is a huge gap though! Yesterday gap was about 180 points... today gap is about 180 points on the charts...

So the point is huge gap down/up AFTER a prolong DT/UT respectively!

Thought I would be wrong on this part... which is why mentioned better if corrected and open to discussion ...

Thanks as always!

Regards

 

[SamFisher]

NF Reversal @ 4163 triggered? Am i correct?
-dURAI

Not yet according to 60 mins
NF SAR at 3978