Going With The 60min Flow!!!

[dnjadeja]

now short at 3022

 

[KomaL2099]

There has been an amalgamation of 2 variations and an addition that was meant to fine tune things further..........well,when things were going fine,no need to fine tune.So dropping the last bit.

But careful on the 1st line......most were practising the Old way,think only Rakesh,MJ,MB,Smart Trade and a few others were seeing things the other way.

So careful when you say that everything is back to before.......am going to make things clearer:

a.We are trading the 60min Flow.....so we are NOT turning to 30min charts,to reiterate NO 30min charts.

b.We are trading PIVOTS-----not just visually obvious ones,not those big pivots that are evident even when you look at daily charts ......ALL Pivots,to reiterate,ALL PIVOTS.....Trading ALL pivots is what Rakesh describes as aggressive pivots.

-----Again,careful,before you take that line for granted......It is not as easy as it looks.Visually obvious pivots are obvious.....These pivots are obvious to me and afew others,but most are going to miss out,and will remain short,long after I have reversed to longs.........So,a bit of training the EYE is required.

Careful,my friends,when you say that all is back to Square One........these pivots are spotted by Rakesh especially very effortlessly,but noticed that others were struggling........but this is a learning process and everyone will soon see it.

But I have to reiterate this point.......ALL PIVOTS,and don't get into 5 bar,3 bars,major/minor......so careful.

c.We are still reversing at 15 and adding at 7.........the moving filter still stands in gap plays.

d.We are still trading the gaps the same way.......we have our SAR at previous pivot lows in an uptrend.Gap down next day below the pivot lows.Allow the 5min bar to form,Reverse Short below it.Instead we had a Gap down but above our pivot lows.Hold as always.We have had an uptrend and then a monster gap up ........ allow that first bar to form and short the 5min bar -Rs20.

Nothing new to the Gaps Play.......there is a lot that one can squeeze out of the Gap Plays,but no reason to add turbulence to the quiet 60min Flow......especially because we are already capitalising on the Gaps using the Intraday MiniFlow.



So,basically back to the Previous Ways with a warning:-Be careful on what you understand as the Previous Way

Saint

Unable to change the way I trade ...... although find the visual gap way juicy.........as I had said these are times when we are still adjusting to changing ways....

As you may well know,we already trade and exploit the Intraday NF using a slightly different strategy......and in staying intraday,we exploit the gaps and its directions.

In trying to bring together many things,I probably may have overreached myself........Therefore a few changes with sincere apologies.

a.Reversals at Pivot points only......Pivots as Rakesh would call it are the aggressive pivots,now don't get into 30min and 60min debates......these pivots are obvious on the 60 as a narrow range bar sideways,etc

b.Reversals using 2 bar methods only in few stocks.....ABAN,HDIL,etc

c.No reversals with Visual Gaps till an aggressive pivot is formed.....and these pivots form most of the times before prices march along.Have to find some way around a short trade that goes in our favour and gaps down big and blasts upwards with no pivots.As MJ would say it,back to the drawing boards........


Sorry for coming across as confused or insane........but the Flow Method was devised not just to pull out great profits,but also to do so with a peace of mind.And simultaneously attack the intradays.......The method in its present form gives too many heart stops,too many turns,it adds turbulence to an otherwise peaceful Flow........Accepting the mistake and returning to what was previously called as Aggressive,with no real answer other than the Gap strategy that we had previously,......but can sense we are nearly there in figuring out how to trade it.

In a nutshell,.......Aggressive Pivots,2 bar method on a vertical move,15/7,and the only thing we bring from the visual gaps method is:On a day when price goes down LH-LL on the 60,and gaps down big the next day,we will add the Rs20MovFilter to the first bar and go long if triggerred.
Once again,apologies.....

Saint
__________________
"You cannot change the direction of the wind,but you CAN adjust your sail..."

here is it for all .

 

[rakeshluthra430]

here is it for all .

Thats the problem Komal......size of monster gap is different for everyone. At least I didnt consider this 2-3% gap up to be a moster gap..neither did i consider the upmove of last 2 days as a smooth upmove. But yes, if we consider 3200 odd level to be an area of preivous resistance, as NC puts out, then yes..the logic holds.

Maybe erring somewhere..so will be back to testing the data to fix the size of gaps for myself.

A likely solution (just contemplating..havent analysed yet) would be to book profits with the Gap rules and take the fresh position only when pivots confirm later....we may have best of both worlds that ways (or should I say chickening out in uncertain situation.)

Maybe Saint throws a light on this issue during the weekend....

Thanks a lot,
Rakesh

 

[rishig38]

I am trying to use the 60 min flow for Commodities...attached is the chart for GOLD...can some one verify my assumption listed in the chart; i.e, should I go long above the line drawn in the chart??

Thanks and as always your help is appreciated.

 

[Saint]

I am trying to use the 60 min flow for Commodities...attached is the chart for GOLD...can some one verify my assumption listed in the chart; i.e, should I go long above the line drawn in the chart??

Thanks and as always your help is appreciated.

Already long from 11686 area above those 3 sideways bars.

Saint

 

[Saint]

Thats the problem Komal......size of monster gap is different for everyone. At least I didnt consider this 2-3% gap up to be a moster gap..neither did i consider the upmove of last 2 days as a smooth upmove. But yes, if we consider 3200 odd level to be an area of preivous resistance, as NC puts out, then yes..the logic holds.

Maybe erring somewhere..so will be back to testing the data to fix the size of gaps for myself.

A likely solution (just contemplating..havent analysed yet) would be to book profits with the Gap rules and take the fresh position only when pivots confirm later....we may have best of both worlds that ways (or should I say chickening out in uncertain situation.)

Maybe Saint throws a light on this issue during the weekend....

Thanks a lot,
Rakesh

Will answer a bit later,Rakesh.

Saint

 

[Saint]

Thanx Komal!

Saint

 

[rishig38]

Already long from 11686 area above those 3 sideways bars.

Saint

Thank you so much Saint ji....I sometimes use a filter of 20, sometimes 25 and sometimes 30 in GOLD...dont know the exact filter...but I am sure one of these days I will figure it out and will successfully apply the 60min logic to commodities...so far, if I do not consider the filters, I've been successful trading in commodities using this method....thank you once again...

 

[Saint]

Taking the charts from October 2005 to now,looking for an uptrend that rallied and then gapped up and formed a first bar bearish candle or a downtrend that continued in its decline and gapped down and put up the first bar bullish candle...........Note the various criteria above.

DEC 12th 2005:Short below the first bar's low-20......did not trigger.

JAN 4th,2006 :Fulfilled everything except that first opening bar.....does not qualify.

6th Feb 2006:An example

JAN 11TH 2007:A Gap down after a downtrend and clear cut decline the previous day and setting up that big WRB covering that gap.Long over that bar.

APR 26th,2007: Does not qualify as the above pattern.....we would have still shorted below that 5min bar because the next bar was another sideways narrow range bar.

Same as Apr 30th......does not qualify because of that first opening bar.Pivots would have got us our reversals.

11th May 2007:Another example.

25th MAY 2007:Another one.

13th July 2007:Once again does not qualify because of the first bar.

9th Aug 2007:Once again does not qualify but the next 2 sideways bars give you a pivot to short the breakdown.

10th Aug 2007:Once again does not qualify....next few bars give a pivot to reverse again.

2nd Nov 2007:Another example.

8th Nov 2007:Again does not qualify,downtrend fine,opening bar bullish,but not a decline the previous day(by decline,I mean LH-LL 5 bars on a trot or maybe 1-2 huge bars before prev day's close,etc)

9th Nov 2007:Another example.....but we have a pivot confirmation as well.

19th Feb 2008:Again does not qualify.Uptrend yes.Prev day not HL-HH rally.And a doji type opening bar.

12th March 2008

23rd July 2008:Qualifies.Gets stopped out...........and by the way,it really should not be such a big deal when a stop is hit.No reason to rave and rant that we have had to reverse twice etc etc......

6th Aug 2008

16th Sept 2008oesn't qualify.Pivots get us in to the reversal.

19th Sept 2008:Qualifies.SAR hit on the same day.........

16th Oct 2008:Qualifies.Reversal happens.Topping tail and breakdown.SAR again.And then one more time over the topping tail................ actually the people who make the pounds won't mind the pennies lost,but what to say about those whose attentions are to the pennies.

TODAY:Shorts below the first bar low



All the best!
Saint

 

[beethoven]

Niftychance, my friend, I request you to save me and post a few of these charts so that we all can see and archive it for future reference.

Many thanks

Bee