Going With The 60min Flow!!!

[rkkarnani]

Sam,

I am taking that the the above bars you have mentioned are of Sep 20 and Sep 21.
Sep 21 , 1pm bar is your point number 3.
At the end of this bar, we have a valid pivot in our hands (even if it is lower than Sep 20 2pm bar, your point number 2). IMHO, this is a valid pivot as per SAint's rules, as per my understanding.

The 1 PM bar on Sep 21st 2008 is not a PH!!!
If at all we can consider a PH is bar at 2 PM on 21st Sep. too....visually the bars at 2, 3 and 4 PM look like a multiple bar PH and 2 PM bar level on 21st being the highest, its level is to be considered as PH for SAR!! My view is that our SAR remains at 20th Sep PH, also after this PH is made at 2 PM on 21st Sep....to me it looks like a PH only after the 10 AM bar is completed on 22nd Sep. Till then my SAR remains at 21st Sep 2 PM bar's high and on 22nd Sep, at 10 AM I change it to the high of 22nd Sep , 2 PM bar!!!

A valid pivot at 2 PM on 21st cannot be influenced by a valid Pivots level of 2 PM on 20th!!! It is irrelevant whether the level is higher or lower than the previous Pivot in considereing it as a Pivot!!

We are happy to have got a pivot. Assuming we are short, our SAR immediately moves to the high of this bar + filter. We are indeed waiting for this to be taken out and happy to go long also at that point (Because our SAR after going long would be the very same bar and so less risk). We do this at the completion of the Sep 21 1pm bar and beginning of the next bar.

We need not wait for the next bar to complete. By waiting for the next bar to complete (assuming the wait is for confirmation of the pivot) we bring in subjectivity into play. The next bar could have been a WRB etc etc......

A bar can be judged as a Pivot only after a bar after it is completed, and not before that!!! For 2 PM bar to be a valid PH, the bar at 3 PM must close and must not breach the high of 2 PM bar!!

Hopefully I am correct!!!!

 

[Smart_trade]

A bar can be judged as a Pivot only after a bar after it is completed, and not before that!!! For 2 PM bar to be a valid PH, the bar at 3 PM must close and must not breach the high of 2 PM bar!!

Beg to differ here RKK,

As per the new rules,our pivot definations of 3 bars,5 bars etc are no more valid,only test is has the market flipped its direction from this bar ? So if you take Sam's example, bar 3 high becomes a pivot high on completion of bar 3 and the high or close of bar 4 has no bearing on deciding whether bar 3 high is a pivot high or not.

The above is as per my understanding !!!

Best wishes for Happy Diwali and festive season to all !!!

Smart_trade

 

[beethoven]

Is there any guarantee that if the market recovers all who have suffered will recover their losses and smile again? The answer is NO. There are people who lost heavily during the bull run. And there are many (true followers of "60min flow") who do not care wether market goes up or down. Hoping and praying is the last thing one should do in the market. Dance with the flow and you will have everyday Holi and every night Diwali.

I think all who trade here are investors (long term holders of shares) also. At least I am. Virtually everyone connected with the market has a portfolio. For me trading is just a small part of my earnings scenario from the stock market. So this downturn has effected all of us very badly. Anyway the prices now are very good for another round of investments and holding for ever (as Warren Buffet says buy shares which you may never need to sell). Choose now and secure the future for your coming generations.

Happy investing and trading, my friends

Bee

 

[rkkarnani]

A bar can be judged as a Pivot only after a bar after it is completed, and not before that!!! For 2 PM bar to be a valid PH, the bar at 3 PM must close and must not breach the high of 2 PM bar!!

Beg to differ here RKK,

As per the new rules,our pivot definations of 3 bars,5 bars etc are no more valid,only test is has the market flipped its direction from this bar ? So if you take Sam's example, bar 3 high becomes a pivot high on completion of bar 3 and the high or close of bar 4 has no bearing on deciding whether bar 3 high is a pivot high or not.

The above is as per my understanding !!!

Best wishes for Happy Diwali and festive season to all !!!

Smart_trade

Would love to be corrected!!! Though tried to locate the NEW definition of Pivot devoid of 3 or 5 bar rules, but could not!!! Though I agree to the definition given by you :"Only test for Pivot is that the Market flipped its direction from this bar!!!"
How do we know where the market has gone without looking at the complete next bar!!!
After getting a PH at 2 PM bar on 20th , the next four bars sort of make an uptrend, we are waiting with our SAR in place at high of 2 PM bar on Sep 20th.
The 1 PM bar is a bearish bar and a WRB too!!!
Would we now say," This bar alone tells us that the market 'flipped' its direction!! from up it is going down!!! Yes on close of this bar that is what it looks like, but very much in the direction of our short trade...no worries!!
Now look at 2 PM bar on 21st Sep. 2008, it opens at the same level as the low of 1 PM bar , becomes a Bullish WRB, breaches the high of 1 PM bar and even closes above the high of 1 PM bar!!! Now do we again say on close of this bar : " The market has flipped its direction... yes it really looks so... but the flipping was not big enough to reverse the trade as our SAR is still a bit away!!!

Now the question comes which of these bars is a PH, (we are looking for a PH as we are already short, we have a PH in place and looking for a fresh lower PH to bring down our SAR)
Do we consider the bar at 1 PM, marked 3 by Sam, as PH (as opined by you)
or
2 PM bar as PH (as suggested by me)?

If we accept your view as correct would it be correct to say that we would have gone long had the 3 PM bar's high would have been 3270!!! I dont think so!!!
I would tend to agree to the 2 PM bar on 21st Sep. as a much clearer point of the market flipping its direction and much easily accept it as a PH....I strongly feel that to consider 1 PM bar as a PH and SAR is an error in understanding of Pivots!!!

My view:
Now this bar marked as3 by Sam may be called by any name, a resting bar, a Wide Range Bearish Bar!!! But it cannot be called either a PH or a PL!! According to me I reiterate that the bar after the bar marked 3 becomes PH and that too preferably only on close of the next days opening bar!!!

Well, our views are so different, one of us needs to go back to the rules and definition and other posts in this regard by Saint to rectify ourself!!!

 

[Smart_trade]

My Diwali wishes for all my friends :

Let your happiness have no resistances,but only strong supports,Let your luck be in 3rd of 3rd extended wave,Let your health be as robust as a strong bullish WRB,you be in the flow of prosperity and the steep gradient of your trendline of happiness be intact all throughout the coming new Samvat.

Saint ,let ma Saraswati and ma Laxmi both togather come down at our homes through your Saintly teachings They will certainly come to your home and bless you for the work you are doing !!!

Smart_trade

 

[rkkarnani]

My Diwali wishes for all my friends :

Let your happiness have no resistances,but only strong supports,Let your luck be in 3rd of 3rd extended wave,Let your health be as robust as a strong bullish WRB,you be in the flow of prosperity and the steep gradient of your trendline of happiness be intact all throughout the coming new Samvat.

Saint ,let ma Saraswati and ma Laxmi both togather come down at our homes through your Saintly teachings They will certainly come to your home and bless you for the work you are doing !!!

Smart_trade

And let there be no SAR , no PH, all WRB,s only in your Continued Uptrend in all spheres of life........

All the best for this Deepawali and the ensuing New Year and beyond!!!!!!!!

 

[rkkarnani]

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I have artificially changed the levels of 2 PM bar on 21st Sep.

Do we still consider the 1PM bar as a PH and go long at 2 PM!!???

The high of 1 PM bar remains same at 3254 , the high of 2 PM bar enhanced to 3270.10!!, i.e. triggering the 1 PM bar by 15 points room!!!!

Dont think so!!! So where are we differing, erring????

 

[Smart_trade]

I have artificially changed the levels of 2 PM bar on 21st Sep.

Do we still consider the 1PM bar as a PH and go long at 2 PM!!???

Dont think so!!! So where are we differing, erring????

Unable to open the chart posted by you with changed levels,just tell me the changed O,H,L,C of this 2 pm bar. Would like to view from this angle and you are my senior RKK, so will he happy to learn from you and correct myself.

ST

 

[rkkarnani]

Unable to open the chart posted by you with changed levels,just tell me the changed O,H,L,C of this 2 pm bar. Would like to view from this angle and you are my senior RKK, so will he happy to learn from you and correct myself.

ST

ST, Seniority has no role friend!!! We have to see who has understood the matter, the system the rules more clearly!!! No issues if I have to learn something from you!!!
Have tried to rectify my link, have a look!!!
All the best!!

 

[SamFisher]

Good morning guys!

Our SAR NF is at 2735+15, If we are stopped today are we going to rollover to Nov Future?
Also we have a day off tomorrow(Laxmi Pooja).

I know there is a very small chance of us holding 'Long' till the expiry
Life expentancy of 'Long Trade' now a days is less than a day