Going With The 60min Flow!!!

[Czar]

I think after a good downside, 30 mins should come into picture ?

 

[AMITBE]

Yes...there is no use of the 30 min charts as of now. Maybe if we open with a huge gap down on Monday, we would use them.

Now I dont know how to explain it...but the high of 1 pm bar stands out as a pivot to me....maybe some would call it a 'minor' pivot..but it surely stands out as a reversal point in the charts.
Maybe I am not able to convincingly explain it now...but will try again after market hours....

Rakesh

Rakesh, well said. That's what this system is about.

Another thing, yes that pivot at 4083 sticks out a mile on the 60. It's also as clear on the 30 and has been so even before that 2 PM bar.

And in the same way, there's another pivot at 4064, very clear on the 30 at this point, and a tad less on the 60. If we open down gap next, that would be the one for me...as of now that is.

Amit.

 

[rakeshluthra430]

I think after a good downside, 30 mins should come into picture ?

yes.....as I said earlier, if we get a big gap down on Monday.

 

[lvgandhi]

Thats a crystal clear pivot on the 30 min....but hardly noticeable on the 60. So, going with the existing stops.

Even in 60 min chart, 14:00 bar and 16:00 bars have lower high and lower low compared to 15:00 bar. Hence even in 60min chart it is valid pivot. 4065+15=4080 is SAR.

 

[AMITBE]

Rakesh, well said. That's what this system is about.

Another thing, yes that pivot at 4083 sticks out a mile on the 60. It's also as clear on the 30 and has been so even before that 2 PM bar.

And in the same way, there's another pivot at 4064, very clear on the 30 at this point, and a tad less on the 60. If we open down gap next, that would be the one for me...as of now that is.

Amit.

Yes, Rakesh. You had pointed to it already...didn't see your earlier post.
Good stuff.

 

[rakeshluthra430]

And in the same way, there's another pivot at 4064, very clear on the 30 at this point, and a tad less on the 60. If we open down gap next, that would be the one for me...as of now that is.

Amit.

Oh..I didnt want to say that now....as a gap up to that level, and people would have 'mis-interpreted' the relevance of it.

Another thing....that lowering down to 30 min charts would also depend on the extent of a gap down..only a 'moderately' bigger gap would push me to go down...not 'any' gap down.

Sure you understand all this very well...I am saying it for the benifit of the rather new comers on this thread.

Rakesh

 

[rakeshluthra430]

Even in 60 min chart, 14:00 bar and 16:00 bars have lower high and lower low compared to 15:00 bar. Hence even in 60min chart it is valid pivot. 4065+15=4080 is SAR.

But does it stand out from far???....No, so hold on to your earlier stops

 

[man4urheart]

Finishing the day with

Current Position Of NIFTY in thread

Position Start Date: 24 -Sept-2008
SHORT Since : 4168
Stop Loss:4083+15=4098
Profit/Loss in Current Trade = 4168-4098 = 70 Points

We change our Position to LONG if NIFTY Trades above :4098

Have a nice weekend! See you Team on Monday!

 

[SamFisher]

NF Summary End of Day

Have a nice weekend!

 

[Satyen]

Finishing the day with

Current Position Of NIFTY in thread

Position Start Date: 24 -Sept-2008
SHORT Since : 4168
Stop Loss:4083+15=4098
Profit/Loss in Current Trade = 4168-4098 = 70 Points

We change our Position to LONG if NIFTY Trades above :4098

Have a nice weekend! See you Team on Monday!

Hi ALL i m going with the red one as one can say blue liine is also a pivot with same logic but as we are getting two little pivots at around same level i will go by the red one again red one looks good for reversal ...... let the price show its strength and cross this one by traversing from todays low then i will reverse ....

My veiw

Regards
Satya



EDIT : If on monday we get further lower level on price the blue line can be considered reversal point .... everything depends on mondays price action