Going With The 60min Flow!!!

[musicjunkie]

MJ,

Will you pl clear one doubt? For gap up or down, do we consider last days actual close or adjusted close? e.g. Friday NF actual close was at 3052 and adjusted close was 3071.

Dont bother about the adjusted close or the close, Trust your chart, if you see a gap opening which doesn't fill first 5min then you have your new reversal points, wait for SL hit.

A gap can be 200 points or just 50points.....visually visually visually !

Just follow the chart.

MJ-

 

[moneygurukul]

Dont bother about the adjusted close or the close, Trust your chart, if you see a gap opening which doesn't fill first 5min then you have your new reversal points, wait for SL hit.

A gap can be 200 points or just 50points.....visually visually visually !

Just follow the chart.

MJ-

There is no Gap-Up here. A Gap-Up day must open above the high of the previous day while a gap-down day's low should be below the low of previous day.

Today's every tick, so far, is inside previous day's range.

 

[moneygurukul]

MJ,

Will you pl clear one doubt? For gap up or down, do we consider last days actual close or adjusted close? e.g. Friday NF actual close was at 3052 and adjusted close was 3071.

It's high and low and not the close which determine GAP.

 

[senty]

Nifty LOD : 3098 [icharts data]
SAR : 3098 - 20 = 3078

 

[lvgandhi]

It's high and low and not the close which determine GAP.

See Saint's post at 6901

 

[moneygurukul]

Dont bother about the adjusted close or the close, Trust your chart, if you see a gap opening which doesn't fill first 5min then you have your new reversal points, wait for SL hit.

A gap can be 200 points or just 50points.....visually visually visually !

Just follow the chart.

MJ-

One can not stop bothering about close or adjusted close if that is a definition point. Both appear on chart and a trader must know which level is more respected later on. One must know what is the yardstick before measuring relative action.

 

[senty]

deleted...

 

[moneygurukul]

See Saint's post at 6901

I have already read but I have differed with teachers' views on occassions. This is one of them.

 

[lvgandhi]

One can not stop bothering about close or adjusted close if that is a definition point. Both appear on chart and a trader must know which level is more respected later on. One must know what is the yardstick before measuring relative action.

You may be correct as per your definition of gap. Here Saint's method talks about Visual gap. He has already confirmed today we have visual gap. This method's rules are based visual gap.

 

[moneygurukul]

You may be correct as per your definition of gap. Here Saint's method talks about Visual gap. He has already confirmed today we have visual gap. This method's rules are based visual gap.

Agreed but visual gap on which time frame? If a Close Vs. Open Definition is accepted, every day we will have a visual gap, Up or Down.

Technical Analysis works best only when it's combined with the order flow of the market. Order flow create the chart and not otherwise. Gap Day Traders' (Which incl. funds) order flow will support our trade only if we stick to what is regarded by a GAP by them as well else we will be prone to whipsaws which is just happening today.