Going With The 60min Flow!!!

[uasish]

Okay Satya, got your point, though i would prefer to wait for the next bar to be created to consider it as a Pivot!!! The less subjective we are better it is for our trades. Frankly when u are trading just a few lots it doesnt matter but the moment you graduate yourself to BIGGER quantitis, these things would MATTER!!!
As usual my view, put in to learn from people like you who are so involved in this Pivots in 60 min. flow!!

While on the subject : is it correct to say that the high of todays opening bar PLUS some jiggling space would be the level to exit shorts and go long!!!!

Yes Mr. Karnani,that is what Saint says about WRB.

 

[Saint]

Milky is Aban a LONG above todays opening bar high + space... as its a GAP down opening!!!???

Nope,RK!!!!!

Keep your stop at 2868+20=2888



Saint

 

[Satyen]

Okay Satya, got your point, though i would prefer to wait for the next bar to be created to consider it as a Pivot!!! The less subjective we are better it is for our trades.[B] Frankly when u are trading just a few lots it doesnt matter but the moment you graduate yourself to BIGGER quantitis, these things would MATTER!!!As usual my view, put in to learn from people like you who are so involved in this Pivots in 60 min. flow!![/B]
While on the subject : is it correct to say that the high of todays opening bar PLUS some jiggling space would be the level to exit shorts and go long!!!!

Yes Dear Rk You are 1000% correct about bigger acount Again Sir we are also learning from you

But one thing sure price most of time moves in certain pattern may be it is HH LL

Again as you are system trader one request can we use any EMA with pivot to make it more Objective its just a request hope you will come up with good ideas to educate us

Regards
Satya

 

[Saint]

These other stocks that are being followed here.....if you notice,I am not tracking NIFTY FUTS,I trade NIFTY on an intraday basis........these other stocks,just run with the flow.....In most,just the 2 bar method,and pivots keep you in the trade.

Don't bother major/minor pivots.......don't bother about gap openings,except in a protracted,extended,vertical fall that is evident on the 60min and then a huge visual gap down.

Other than that.....it is entry,move stops down as per pivots,get out.In ABAN,2 BAR method plus.

All these complications come in with NIFTY FUTS........but let us take the NF,we have a start of a fall yesterday,may be 1- 2 bars.And then a visual gap down...........the expectation when this happens is a continuation of the preexisting trend,not a likely reversal.For that,we would need a fall of 5-6 bars,preferably even a few wrb's,then today's visual gap down gives us a whiff of a reversal.

Saint

 

[Saint]

Saint, a small doubt!!! As usual its about major and minor Pivot!! I remember that u are using only Major Pivots...but in the chart the Blue arrow is at a pivot that is a Minor Pivot.
I do not have the Lanco chart, but from your chart it seems that a up bar on 3rd or the Long up bar on 4th are valid Major pivots, would it be more accurate to go long above the high of one of these bars on 3rd or 4th!!???

RK,my friend,take my advice ....... chuck out the Major and Minor Pivots out for all thes stocks.That was mentioned only as per NIFTY.

For these,very simple.......no cracking the brain.......Simply,Lower PVT HIGH,Lower pvt high,lower pvt high,.......first break is your entry long.

No harm in entering though where you pointed out.

Saint

 

[Satyen]

All these complications come in with NIFTY FUTS........but let us take the NF,we have a start of a fall yesterday,may be 1- 2 bars.And then a visual gap down...........the expectation when this happens is a continuation of the preexisting trend,not a likely reversal.For that,we would need a fall of 5-6 bars,preferably even a few wrb's,then today's visual gap down gives us a whiff of a reversal.

Saint

Thank you About Extended Move


Regards
Satya

 

[pasha]

Hi Saint,
Been following some of your threads with keen interest. Just saw your Lanco entry at 268.5 with a 233.5 stop. Thats almost 13%.
what sort of %profit do you want to exit at?

 

[milkyblack]

Nope,RK!!!!!

Keep your stop at 2868+20=2888



Saint

Because of not visual gap

Regards

 

[milkyblack]

NF SL to revert to longs 3940+ (trade got in profit)

Regards

 

[milkyblack]

Milky, I think it is a visual gap !!!! I could visually see the gap!!!! If not then why not, please clarify!!! Saint has mentioned that he is using pivots only in other than nifty stocks!!!
Please do take out time to reply, i know gap and visual gap is subjective, let us try to reduce the subjectivity to minimum!!!
Thanks

Sir thanks for asking it... will clear my concepts too
What is visual gap according to Saint is that it should open below some supports in case of gap down and open above some resistances in case of gap up!

Tats why a few trades back we did not consider NF gap as visual gap... though it was clearly visible on the charts!
I hope I am able to help you with this!

Regards