Going With The 60min Flow!!!

[rkkarnani]

A Gap rule posted by Saint.....we expect one today...so do revise your lessons!!!!

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 triggerred.

2.Same as 1 for shorts.

3.All other gaps in the direction of the trend......nothing to be done.Once the day progresses and pivots form,the latest pivot low can become the new recent stop and reverse point.

So long as gaps are in the direction of the trend.........nothing except in case 1 to be done about it.Treat it as if it were a strong move up if that makes you feel better.But when the NIFTY gaps up 150pts,we ache to put that 50-60k in the pocket.And then we mess it up trying to get in lower and give back half or more.Stick to the plan........We want as much of the meat as possible out of that trend move.And in that,we are willing to leave a lot on the table.

The question you have to ask is:Can you do it?Do you have the stomach and capital and mental fortitude to pull it off?If the answer is yes,.....great.If the answer is no,.....are you sure that the method is faulty.Or is the fault in the organ between the two ears?

All the best!!!!

 

[musicjunkie]

Will close my shorts if 5min high taken out......but honestly people who go long,
that's what separates the kids from the big boys.

MJ-

 

[man4urheart]

Will close my shorts if 5min high taken out......but honestly people who go long,
that's what separates the kids from the big boys.

MJ-

Not sure about Kids or boys....

MAN Will follow the same strategy! Will use First bar high +15 to keep stoploss

 

[Satyen]

Do we Apply 5 min high + 20 to go long today if it happens ???

Regards
Satya

 

[rakeshluthra430]

So...how to trade today is obvious to all. Just to sum up:

Scenario 1: Gap down, but First 5 min low>3776......add at break of 3776-7 or low of 1st 5 min bar-7, whichever value is lower. Stops then remain at 3891+15.

Scenario 2: Gap down, First 5 min high< 3776.....(i) Cover and go long above first 5 min bar+20. or (2) add below 1st 5 min low-7. Stops remain at HOD+15 This is for aggressive traders. Pure traders maintain their stops at 3891+15.

Scenario 3: Gap Up above 3891:...just joking


Rakesh

ps: Just hope Saint looks at this post and corrects, if required....just to add conviction for all trading here.

 

[vinst]

if NF opens with down gap, we can add to shorts at 5min low-7.

regards,
vin

 

[niftychance]

scenario 3: Gap up above 3891:...just joking

.........

 

[rakeshluthra430]

if NF opens with down gap, we can add to shorts at 5min low-7.

regards,
vin

Yes we do....as of now we have had 3 adds to this trade. So todays add would be the last one.

Rakesh

 

[Satyen]

So...how to trade today is obvious to all. Just to sum up:



Scenario 3: Gap Up above 3891:...just joking


Rakesh

.

Regards
Satya

 

[ARMHM]

A Gap rule posted by Saint.....we expect one today...so do revise your lessons!!!!



All the best!!!!

RKK, You are just great.