Going With The 60min Flow!!!

[Satyen]

Not yet reverted to longs! Due to 10pts room!

Regards

hi MB and RK this is new type of situation we have,,,, shareing my veiws

we wait for 5 min low break anticipating the GAP wil be filled up and it happend partly today but it showed some strength in later part of the day and moves up and closed above our previus pivot at 3902 and creating a new pivot low at days low

Again i think we wait for 5 min because we dont want to fall into trap of exhustion GAP .... but this one showed some strength and tending to create a new trend

As we have taken 3902 as reversal point and after GAP it showed some strength to close above this reversal point then what should we do
should we go long with stop at days low ????

or as you guys say still short with days high as Stop ??

only my veiws waiting your comments

Saint plz help us for this type of situation never faced

Regards
Satya

 

[Satyen]

Today realise we may have different type of GAP breakouts

Regards
Satya

 

[Prabhjeet]

Saint I reverted to longs in JP Assoc. as the last pivot high of 148 which was also 5 min. high on 1st bar was taken today, does it qualify as correct entry ? Keeping stoploss at 140.5 with 0.5 as jiggling space.

 

[milkyblack]

hi MB and RK this is new type of situation we have,,,, shareing my veiws

we wait for 5 min low break anticipating the GAP wil be filled up and it happend partly today but it showed some strength in later part of the day and moves up and closed above our previus pivot at 3902 and creating a new pivot low at days low

Again i think we wait for 5 min because we dont want to fall into trap of exhustion GAP .... but this one showed some strength and tending to create a new trend

As we have taken 3902 as reversal point and after GAP it showed some strength to close above this reversal point then what should we do
should we go long with stop at days low ????

or as you guys say still short with days high as Stop ??

only my veiws waiting your comments

Saint plz help us for this type of situation never faced

Regards
Satya

Hi Satya,

Yes it is a typical situation! The SL of 3927+10pts also did not get hit! And looking at the global markets now it looks like we gonna open higher again! So what would be the SL? 3901 is now out that much is for sure... I guess! Latest SL is it at the day's high or the high of the resistance region i.e 3927... That I request Saint to throw some light of logic in this type of situation!

Typical confusion

Regards

 

[milkyblack]

is it again goin 2 b a gap opening or wat!

 

[milkyblack]

Hello all,

If Saint is unable to respond till market opens then the Plan (It is my plan... I am not that experienced so plz do not follow if even a single doubt... If Saint comes and suggests something... obviously I will follow that)

A. VISUAL Gap- 5 min rule! As usual (Will again take out some of our profits )

B. Gap up and open outside the SL - Will wait for a pullback place a double qty buy order at 3937(maybe the price will go below that in the pullback, but that is where I will place) to square off and a fresh long with SL at yesterdays low! If price does not fall and keep rising! I will wait for a downside pullback on the 5 min and buy on the 1st upside pullback on the 5 min!

C. Opening within the SL.... simple rule as usual...

Saint is my Option B advisable? Plz put your thoughts and help me to rectify my mistakes.

Regards

 

[milkyblack]

Dear Satya and MB,
I request both of you to make a summary of rules of entry, exit, trailing stop losses taking into account various contingencies like gap opening, various types of gap opening as sticky in the beginning of thread at the week end. This will be helpful as reference for persons like me to follow in case of doubt and newcomers it will be good learning tool.
Saint may like to correct. This will avoid lot of recurring posts for clarification.

Hi lv,

Although the rules are almost similar to that of 60 min by Saint... We just consider major pivots in NF and no 2 bar method... these are only the differences I guess...
Gap rules applies to stock as well as NF...
Though if it is possible to attach it to the beginning of the thread it is a good idea...

As the situations keep on developing it can be updated time to time... like this current situation that we have!

I will try to post the rules for NF and will try to cover all the situations faced until now (but will take time)
I do not know how to post in the beginning ... so would post here ... plz who ever knows to post in the beginning do it

If Satya gets time I am sure he would do it before I post... and will be of grt help!

Regards

 

[rkkarnani]

Hello all,

If Saint is unable to respond till market opens then the Plan (It is my plan... I am not that experienced so plz do not follow if even a single doubt... If Saint comes and suggests something... obviously I will follow that)

A. VISUAL Gap- 5 min rule! As usual (Will again take out some of our profits )

B. Gap up and open outside the SL - Will wait for a pullback place a double qty buy order at 3937(maybe the price will go below that in the pullback, but that is where I will place) to square off and a fresh long with SL at yesterdays low! If price does not fall and keep rising! I will wait for a downside pullback on the 5 min and buy on the 1st upside pullback on the 5 min!
C. Opening within the SL.... simple rule as usual...

Saint is my Option B advisable? Plz put your thoughts and help me to rectify my mistakes.

Regards

Milky, My view on plan B : If the price opens outside the SL, u plan to buy at 3937 level our original SL... no harm in that at all except that you will be going LONG in a DECLINING market... my opinion : Allow thw bar that tiuches the 3937 level to close, if it closes below the 3937 level , place a buy order at 3937... BUT if the bar touches the 3937 level and closed higher, go LONG above the high of the BAR!!!
Had we followed this rule yesterday.... the opening was beyond the high of previous Pivot (3902) our reversal would be SL 3912 and it pulled back to as low as 3856....by the 11 AM bar... then Should we have gone long above : 3912 when the same was breached by 1 PM bar!!!????
I feel its worth giving a thought!!!!

 

[milkyblack]

Milky, My view on plan B : If the price opens outside the SL, u plan to buy at 3937 level our original SL... no harm in that at all except that you will be going LONG in a DECLINING market... my opinion : Allow thw bar that tiuches the 3937 level to close, if it closes below the 3937 level , place a buy order at 3937... BUT if the bar touches the 3937 level and closed higher, go LONG above the high of the BAR!!!
Had we followed this rule yesterday.... the opening was beyond the high of previous Pivot (3902) our reversal would be SL 3912 and it pulled back to as low as 3856....by the 11 AM bar... then Should we have gone long above : 3912 when the same was breached by 1 PM bar!!!????
I feel its worth giving a thought!!!!

Grt Would do that then... this is what is manipulating 60min with 5 min... not on the rules though! Thats why Saint come rescue us

Thanks RK sir, for your valuable input! Not I would just gave it a thought but modified the plan B according to your input!

Regards

 

[Satyen]

Hi lv,

Although the rules are almost similar to that of 60 min by Saint... We just consider major pivots in NF and no 2 bar method... these are only the differences I guess...
Gap rules applies to stock as well as NF...
Though if it is possible to attach it to the beginning of the thread it is a good idea...

As the situations keep on developing it can be updated time to time... like this current situation that we have!

I will try to post the rules for NF and will try to cover all the situations faced until now (but will take time)
I do not know how to post in the beginning ... so would post here ... plz who ever knows to post in the beginning do it

If Satya gets time I am sure he would do it before I post... and will be of grt help!

Regards

Please post the rule in this week end and we will discus on that

hi IV sorry for not replying your post


regards
Satya