Going With The 60min Flow!!!

[vinst]

Visiting visual gap down with NF example. short initiated at break of first 5 min candle. then reversed to long after day's high taken out. Now long (12.50pm). what wud be SL for this long position? day's low or a 5min PL or ...?

regards,
vin

 

[Saint]

Visiting visual gap down with NF example. short initiated at break of first 5 min candle. then reversed to long after day's high taken out. Now long (12.50). what wud be SL for this long position? day's low or a 5min PL or ...?

regards,
vin

Vin,

Shorts from yesterday,cover and long over first candle high.

Stops at low of day.

Don't forget......If you miss a move,get on to the next move.What you've done so far,you've inadvertently traded the 5min charts and not the 60.....which is what this thread is all about.

Saint

 

[vinst]

Vin,

Shorts from yesterday,cover and long over first candle high.

Stops at low of day.

Don't forget......If you miss a move,get on to the next move.What you've done so far,you've inadvertently traded the 5min charts and not the 60.....which is what this thread is all about.

Saint

Saint,
thanks for clarification. However, on the NF chart u posted, yesterday's short is initiated below a candle which is not PL, it is a minor pivot. This must be OK since u have shown it. I was under the impression that trades to be iniitated only with PH/PL, 2 bar stop after extended run and a big visual gap. Minor pivot was (I thought) not in the list. Should it be?

regards,
vin

 

[rkkarnani]

Saint

Saint, its really really helpful : The chart.
A query :
What do we do on a derivative closing day: Do we roll over. ???
The Tracks record maintained by Milky considers exiting position on close and entering fresh position with fresh trigger on the next day, i.e. commencement of new Derivative month.
If the latter be the case, please do mark the chart with fresh trades on 27th June, the Start of July Series!!! As it is a gap down opening, some clarity shall be gained on this aspect also!!!
Please do it per your convenience. As it is we are too demanding on your time.
Regards
R K Karnani

Saint: One more important thing : Why have we not considered the 11 AM bar on 26th as a Pivot!!!
If its a valid Pivot wouldnt it be prudent to exit our shorts above the high of this bar and DO NOT GO LONG above it as its a derivative closing day!!!!
If we are totally mechanical than the 1 PM bar on 25th is also a Minor Pivit.... we would go long above that and exit on close on 26th!!!!!

 

[alokdaga]

Saint

What is the filter amount? Is it a fixed amount or a percentage? Any mechanical way of identifying a pivot?

Regards

 

[Satyen]

Hi all pivot we formed today if short SL is still at 4050

Regards
Satya

 

[ARMHM]

Hi all pivot we formed today if short SL is still at 4050

Regards
Satya

That is a bear flag. Anybody has other interpretation?

 

[Satyen]

Hi
i am also thinking as a flag

Regards
Satya

 

[Satyen]

Vin,

Shorts from yesterday,cover and long over first candle high.

Stops at low of day.

Don't forget......If you miss a move,get on to the next move.What you've done so far,you've inadvertently traded the 5min charts and not the 60.....which is what this thread is all about.

Saint

Hi Saint i have one doubt yesterday i think we have not formed major pivot again today is interesting day if we dont have covered our long yesterday and not gone short ,,then as today we did not break first 5 min low + space so our long position remains if so then our trailing stop is now updated to todays low ??


Regards
Satya

 

[debdeeps]

Hi Saint i have one doubt yesterday i think we have not formed major pivot again today is interesting day if we dont have covered our long yesterday and not gone short ,,then as today we did not break first 5 min low + space so our long position remains if so then our trailing stop is now updated to todays low ??


Regards
Satya

Hi Satya, Although you have asked your question to Saint but I really can't stop myself to try give you an answer before he does. You are absolutely right my friend, your stop should be yesterday's low (Low of 8th July).