Going With The 60min Flow!!!

[Saint]

Thanks, Saint. Also apologies for the confusion coming up.

Regarding the 2 Bar method, is it 2 bars from the current bar or 2 bars from the bar that we broke the high/low of?

The reason I ask is that, in a situation like now, we could have 3+ hourly bars shooting upward activating the 2bar method, then some sideways stuff like now, and then finally a breakout above yesterday's HOD.

In such a case, if we followed the former method, we'd end up moving the the stops to current levels rather than leaving some genuine room for nifty to whipsaw around.

Or do we use the third option and start the 2 bar method afresh after stagnation, ie waiting for another 3 bar upward move from this point on?

Basically,the 2 bar method kicks in when we get a vertical move on the 60 and we don't have a pivot nearby to latch on to........Let us presume that after 3 bars,we have a sideways move,we have ourselves a pivot......Pivots always take importance over the 2 bar method.

So,once you get new highs,your new stop would be the latest pivot low.If there are no pivots,then it is 2 bar method,raising stops to the low of 2 bars back every time the next bar makes a new high.......

Hope it clarifies....

Saint

 

[Saint]

Saint in aban SAR is as per 2 bar rule can we consider todays 5 min bar too as it has opened with a gap

Yes...but although gap opening,not really a visual gap.....your latest stop loss is at 923 below that WRB.

Now waiting for pivots to form and an opportunity for us to raise stops.

Saint

 

[Sec 5 (Pyr)]

Let us presume that after 3 bars,we have a sideways move,we have ourselves a pivot......Pivots always take importance over the 2 bar method.

Gotcha on the pivot importance.

But what if we don't have a pivot during the sideways stuff? I mean, does a sideways move reset the 2 bar method, having for us to require another 3 bars of upmove? Or do we just pretend the sideways move never happened and just keep raising the stops after the breakout?

 

[KomaL2099]

Can someone tell me what is the current position of RCAP pls ????

I have not yet mastered .. please stop testing my patience ..

 

[gaurav_v]

hello saint,
i want to ask one question.in the two bar method our SAR is below the low of second bar minus filter(20) in case of nifty.but is it a moving filter as is the case in 5 min candle after gap?

 

[rakeshluthra430]

I have not yet mastered .. please stop testing my patience ..

LOL..on not having mastered. You know the answers KomaL.you are just waiting for confirmation.

Though I am not tracking Futures...but in cash charts...you would have gone long above the 11 am bar y'day..with stops at y'days low-space.

Revise the stops to y'days 4pm low OR todays low(whichever is lower) once you take out the highs of y'days 3 pm bar.

Assuming here that cash and futs charts are identical or thereabouts.

Rakesh

 

[Saint]

Gotcha on the pivot importance.

But what if we don't have a pivot during the sideways stuff? I mean, does a sideways move reset the 2 bar method, having for us to require another 3 bars of upmove? Or do we just pretend the sideways move never happened and just keep raising the stops after the breakout?

The low of that sideways move is your latest stop,but needs multiple bars sideways for that,.....once you get a breakout to new highs.

Saint

 

[Sec 5 (Pyr)]

The low of that sideways move is your latest stop,but needs multiple bars sideways for that,.....once you get a breakout to new highs.

Saint

Thanks for the clear cut answer.

Certainly not the answer I was expecting, but it does make sense still.

 

[Saint]

LOL..on not having mastered. You know the answers KomaL.you are just waiting for confirmation.

Though I am not tracking Futures...but in cash charts...you would have gone long above the 11 am bar y'day..with stops at y'days low-space.

Revise the stops to y'days 4pm low OR todays low(whichever is lower) once you take out the highs of y'days 3 pm bar.

Assuming here that cash and futs charts are identical or thereabouts.

Rakesh

Thanx Rakesh!

Saint

 

[Saint]

I have not yet mastered .. please stop testing my patience ..

KomaL ...... you are seeing things clear for someone new.........what you need to do to get that confidence and rid yourself of the anxiety and the need for confirmation is to pour over charts and get that confidence.

I mean 1000's of charts.......start with going over 10 per day and making notes.......soon,the pivots and other concepts jump out from the charts and force you into that trade.

For now,the charts.........


Saint