Going With The 60min Flow!!!

[Saint]

This sounds convincing to me now! This was the rule which I learned just now!

That's why I didn't saw it on Friday!

Ah,great going,m4uh...

Saint

 

[rkkarnani]

[ SHRIKRISHNA PUROHIT;238054]

Saint,

My congratulations to you for starting this wonderful thread.

I have been keenly watching this thread. I am a great fan of Bill Williams. We all know that this system is a variation of Bill Williams Alligator system, and a good variation too.

Welcome to the Forum SKP!!! I speak on behalf of the majority here, and even without their permission, that leave aside Bill Williams, Larry Williams and for that matter any Williams or the Alligators or Crocodiles or Turtles,( we do know a bit about How to Fish!!!, at times we get small ones and at other times big ones and at times even Net an Alligator) many here did not know what a bar or a candle is, what is OHLC what are Supports and Resistance....till Saint taught us many oh the things!!!

However I feel that there are some ambiguities, as I find them. Probably you all are very much familiar with this system and hence may be knowing answers to all these. At the risk of being repetitive, I am stiil raising the following queries. I hope you will be patient with these queries, even though you might have replied to them in the past.

Almost all are patient here and the man with Super Patience is Saint himself, (maybe myself an exception which proves the rule ), and you will get answers to all the ambiguities you percieve!!!
Would definetly request you to go through the Thread entirely more than once and even then if there is some ambiguity left , some query left do, bring forth the same and I am sure you will get your replies!! The positive aspect of repetitiveness is that others get an opportunity for revision of their lesson!!
But do first try to find the answer yourself!!!

1) Definition of a Pivot- Let us say there are 3 bars and no.2 is a potential pivot bar. Then are there any conditions for bar no.1 and bar no.3, regarding their range in relation to bar no.2 ? If bar no.3 is an inside bar of bar no.2, will it still be a valid pivot?

Inspite of all the technical jargon about inside bar , range etc. do ask yourself ," Is the Pivot visually obvious!!!!" Answer to this question is your answer!!!
Let me assure you that if you go through the N number of Charts posted here by Saint and others with all sorts of Pivots marked, do have a look, almost, yes I say almost, all types are situations are covered whcih are very commonly coming in our trades!!! You will get to see all types of Pivots High and Pivots Low!!!
The best and most relevant definition lies in the meaning of the word PIVOT itself, a turning point, all we look is for a turning point an obvious turning point, a visually obvious turning point in the charts and that is a PH or a PL!!!!
To quote Saint about locating and identifying the Pivots : Its more of an Art than Science!!!

2) Visual gap- I assume that this visual gap of next day is from closing level of previous day, and that, it has got nothing to do with high and low of the previous day, because sometimes gap is defined as a gap only if it is beyond the range of previous day. ( i.e. open above previous days high or open below previous days low)

Yes you have got it right. Gap has nothing to do with the previous days range!!! Its more about previous days Close and next days Open!!! And should be visually obvious GAP!!!

3) WRB- In daily discussions among participants, I am finding good debates on pivot point entries and reversals. However I have found very few references on WRB entries, their stop losses or reversals. I am curious to know, whether WRB entries are regular feature of this system? If we add on a short position on WRB basis, then I presume that its stop loss is the high of the same WRB. If this stop loss is hit, are we supposed to close all our shorts and go long(SAR). Is there any definition of the WRB? What should be the range of the bar to qualify as WRB?

The reason you do not see much about WRB's here is becoz the thread was primarily tracking Nifty Fututres and in Nifty futures we were not considering to use 2 bar rules for reversal in case of WRBs.... we were looking at lower time frame etc,.... Now the rules have been amended a bit and we do consider 2 bar rule in Nifty too. There cannot be a rule to judge a WRB, on a given day even a 15 point bar mmay be considered a WRB because the nearby bars were of just 5/6 points, and on any other day a 15 point bar mmay not be considered a WRB as other bars are bigger!!! WRB is a comparative term and is used in comparison with the recent market movement!!!

I am afraid that I might have raised some points which are aleady well debated and well known to many of you. But still one more clarification on these may go a long way in generating confidence.

Your assessment is correct that your queries are well debated here and answered a number of times and am sure you will still get people to respond to your queries, wont be a surprise even if Saint decides to respond!!!

Saint, I am sure that sometimes you may be getting frustrated in answering all these repetitive queries. However great work started by you will have more and more followers. You will have to be a little patient.

Trust and am sure you do not mean to say that if Saint answers repetitively he will have more followers!!!! Yes he may have but he is not after name and fame!!!!! He is not toiling at getting more followers, he is striving to make all the followers leave him!!!! Yes leave him , leave his continued assistance and " be independent"!!!

Once again thanks for starting something which has generated this much widespread interest.

Yes, he deserves all the praise and more for his untiring efforts!!!!

All the best and do share the Alligator etc. with us in a New Thread!!!!

 

[ARMHM]

Trust and am sure you do not mean to say that if Saint answers repetitively he will have more followers!!!! Yes he may have but he is not after name and fame!!!!! He is not toiling at getting more followers, he is striving to make all the followers leave him!!!! Yes leave him , leave his continued assistance and " be independent"!!!

The best reply RKK. I have said in someplace in this forum that Saint is a true leader and a true leader does not creat just followers but MORE LEADERS.

 

[SamFisher]

This sounds convincing to me now! This was the rule which I learned just now!

That's why I didn't saw it on Friday!

Me too man4urheart, I think this situation has come before us couple of times back too, but there was no proper explanation(@ newbie level) and also lack of understanding from my part made me wondering always.

Hope we have some 'Name' for this type of reversal. So far everyone has been saying 'There was a pivot so we reverse'.

But thank you saint for clearing this up.

 

[rakeshluthra430]

Rakesh,there is no new method.....same old method.....The pivots you see are the same pivots that we are trading......trading all pivots and adding a few rules on visual gaps,that's all.



And indeed they are tradeable and we are trading them all.......all same + gap rules.



Nothing different,Rakesh.....all same stuff + gap rules.......Actually,what was once termed as Aggressive is nothing but Modifying the Pure to the next level......and this is fine tuning even further.......only difference: Did away with unnecessary names and variations.....Same stuff + gap rules...

Saint

Saint,
Extremely relieved after reading your reply. Really...a big Thank You Sir. I am getting it now.

Thanks a lot,
Rakesh

 

[alokdaga]

Is there a visual Gap in NF today ?

 

[Saint]

Saint,
Extremely relieved after reading your reply. Really...a big Thank You Sir. I am getting it now.

Thanks a lot,
Rakesh

Most welcome,Rakesh

Saint

 

[inspire]

Is there a visual Gap in NF today ?

No this is not a Visual Gap.

Regards
Inspire.

 

[vinst]

30 minutes over, no post. mkt opening didn't excite anyone? It is a good sign, perhaps.

vin

 

[yashodhan]

anyone current position

Long at 3168. Gap up , 5 min high 3148 + 20