Going With The 60min Flow!!!

[KomaL2099]

Satya .. rakesh .. or anyone can please post RCAP chart.
thanks

 

[vvvv]

Dear Amit Sir after reading this post some days back .... just wanted to see how GAPs occures it is amazing to see if market GAP up/Down to near about previous important pivot area then how first 5 min bar decides the move........
may be we can conclude some trading rule for this

waiting your valuable comments on this......

Regards
Satya

nice observation satya,,,wht is tht daily pivot on the chart,,pivot point or daily pivot as per floor pivot calculations..pls be a little more specific

 

[Reji]

Satya .. rakesh .. or anyone can please post RCAP chart.
thanks

Hi Komal,

Regards

Reji

 

[rkkarnani]

Hi KomaL, It seems to me that the 1st 5 minutes bar , from 9.55 to 10 AM is missing!!! I do not use Amibroker but feel so seeing the charts posted by you!!!

 

[KomaL2099]

Hi KomaL, It seems to me that the 1st 5 minutes bar , from 9.55 to 10 AM is missing!!! I do not use Amibroker but feel so seeing the charts posted by you!!!

HI Rk .. u mean to say that in hourly chart I shall see first bar from 9:55 to 10(5 min) .. and then 10 to 11(60 min) .. 11 to 12(60 min) .and so on ..

 

[Satyen]

nice observation satya,,,wht is tht daily pivot on the chart,,pivot point or daily pivot as per floor pivot calculations..pls be a little more specific

Hi vvv it only pivot point .......


Regards
Satya

 

[rkkarnani]

HI Rk .. u mean to say that in hourly chart I shall see first bar from 9:55 to 10(5 min) .. and then 10 to 11(60 min) .. 11 to 12(60 min) .and so on ..

Yes, as u might have noticed that the first 5 min bar becomes very important on gap days etc.

 

[rkkarnani]

Hi vvv it only pivot point .......


Regards
Satya

Satya, u mean it is a Pivot level, calculatation based on previous days OHLC!!!??

 

[AMITBE]

Hi MJ, old time traders will see much significance in such a move where a jittery open gap doesn't cut the previous low by a hair's breadth. Seems to suggest strong hands guarding certain positions.
So, this maneuver may be seen to have bullish overtones.
On the other hand, a later break of this bottom, meaning a bull faiure of sorts, would normally signal a bear success....bit of a trap. ( )

This is early in the day yet, so would be interesting to observe.

Amit.

Dear Amit Sir after reading this post some days back .... just wanted to see how GAPs occures it is amazing to see if market GAP up/Down to near about previous important pivot area then how first 5 min bar decides the move........
may be we can conclude some trading rule for this

waiting your valuable comments on this......

Regards
Satya

Hi Satya, thanks for bringing up this post from a few days ago.

And no thanks for that "Amit Sir" please. Amit is good.

Yes, if we go back to September 10 morning and see the charts in say, 5 min periodicity, we see the price test that 4440 pivot thrice, then a little later there are three bullish bars with volume spike, and this is followed by distribution on subdued volume. Once that pivot is cracked, the price moves sharply down on much volume activity. That bear success comes to pass.

One deduction that can be drawn, as posted by me then, is that that pivot was being protected, and whoever did it had between 11 Am to 1.45 PM in which to who knows what Calls to write and Puts to buy. I believe 4500 strike was very active then.

As far as trading rules go, the flow is a great system and has that 5 min bar rule built into it. However a few thoughts:

At times the flow has a significant lag, and when the SAR occures, sends us short in oversold conditions and long in over bought.
Suppose we turn short and wake up to find a sharp gap down (that gets arrested at a pivot area?). Now the price break above the first 5 min bar and rallies back to where we were the previous night.
Now, if we think in terms of a hybrid system in this instance, which incorporates both of Saint's flow systems, let's say we now reverse to long above that 5 min bar? What have we achieved? We've brought home points from the short, yes, and we go back to long with the 60. Should the price, after the rally reverse again, we go back to the original short below that 5 min bar again. What have we achieved here? We have given up on those points we were making in the long after the 5 min break above yes, but we are back to main flow again and this time with the advantage that we already got to book those points which the sharp gap down gave us in the short trade we entered the previous night.

I guess Satya, there are many ways to play that 5 min bar at sharp gaps.
As far as I can see it, in the hands of a seasoned trader all that is possible. But at this time a lot of the team members are still coming to terms with this system which is easy enough in some ways, but can be very demanding when the lag intially catches us in that phase of the new trade where it may appear as if we are against the flow....before pivots begin to form and SARs are raised or lowered to safety.

And all that is written above is an exchage of thoughts with everyone here...to widen our understanding...and is in no way suggesting that we need to tinker with this system that Saint has thought through so deeply.

I'm sure ther will be thoughts and I look forward to your thoughts.

Amit.

 

[KomaL2099]

Yes, as u might have noticed that the first 5 min bar becomes very important on gap days etc.

hmm .. means i need to revisit my intraday settings.