Going With The 60min Flow!!!
- Thread starter Saint
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RK
Agree 100% on this.
Trading holiday was mentioned so as not to confuse people reading the post as to why a date is missing. Yes it does not change the definition of the Pivot.
As mentioned at the begining of my post, my reply is as per my understanding, and the same may be erroneous.
I do not know about the chaos here. I reversed on the basis of gap less room hence posted the same. As there is no Pivot being considered here the question of waiting for a bar to 'complete' does not arise in this case. The next bar did not breach the level of 'gap minus room' and the bar there after also did not breach the reversing level.
Agree 100% on this.
Trading holiday was mentioned so as not to confuse people reading the post as to why a date is missing. Yes it does not change the definition of the Pivot.
As mentioned at the begining of my post, my reply is as per my understanding, and the same may be erroneous.
I do not know about the chaos here. I reversed on the basis of gap less room hence posted the same. As there is no Pivot being considered here the question of waiting for a bar to 'complete' does not arise in this case. The next bar did not breach the level of 'gap minus room' and the bar there after also did not breach the reversing level.
Charts 1 is of Old rule era .. we were trading old rules then and the filter of 20 wasnt introduced then. At that time gap rule was applied only if it met following two conditions
1) against your trade 2)Surpasses your SAR.
Well lets go back to 17th Oct Chart ...
question related to pivot was asked that day
Originally Posted by man4urheart
This is not a pivot... Next bar didn't cross the high! It went straight down!
and here is saints reply
Price Stops three time at the same area.
The chart of 17th October is being discussed above.
And 12pm and 1pm bar are being considered as pivot.
Now look at todays chart ..leave 10am and 11 am bar.. look at 2pm and 3pm bar.. isnt it that price hit the same level again and reversed from there on each ocassion ... doesnt that call for pivot ... if yes then why shall we wait for 3:30pm bar to close to confirm it???????
Price being arrested at certain level multiple times definitely qualifies a pivot ...
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Satya, U have given tremendous effort to clear things about a Pivot. But Komal seems to be asking about our action today (14th Nov) !
What would be our action if 4 PM bar went upto 2893, or any level breaching the high of 3 PM bar + room.... would we go long! Your answer is no as seems from your posts. But for a sideways move if we need 3 bars or more concecutively than you are correct , otherwise we would be going long above 3 PM high. Just trying to see the chart from a distance : After 11 AM the price has tried to cross 2868 but failed in all the bars there after...12 Noon bar high 2868(retraces to 2805), 1 PM bar high 2846(retraces to 2788), 2 PM bar high 2867(retraces to 2771), 3 PM bar high 2868(retraces to 2770) we have lower lows in all these bars where as all bars fail to cross the high...now if the 4 PM bar crossed this hurdle with a room (filter) why should we wait for tomorrow?
I may be erring by differentiating between the situation at 10 and 11 AM bars and the above mentioned bars but thats the way I see things. At 10 and 11 only two bars are involved and one of them is just 5 minutes bar.
Please post your views on the scenario once again, does not matter if you still feel that we wait till Monday. We are all in learning process still.
What would be our action if 4 PM bar went upto 2893, or any level breaching the high of 3 PM bar + room.... would we go long! Your answer is no as seems from your posts. But for a sideways move if we need 3 bars or more concecutively than you are correct , otherwise we would be going long above 3 PM high. Just trying to see the chart from a distance : After 11 AM the price has tried to cross 2868 but failed in all the bars there after...12 Noon bar high 2868(retraces to 2805), 1 PM bar high 2846(retraces to 2788), 2 PM bar high 2867(retraces to 2771), 3 PM bar high 2868(retraces to 2770) we have lower lows in all these bars where as all bars fail to cross the high...now if the 4 PM bar crossed this hurdle with a room (filter) why should we wait for tomorrow?
I may be erring by differentiating between the situation at 10 and 11 AM bars and the above mentioned bars but thats the way I see things. At 10 and 11 only two bars are involved and one of them is just 5 minutes bar.
Please post your views on the scenario once again, does not matter if you still feel that we wait till Monday. We are all in learning process still.
Satya, U have given tremendous effort to clear things about a Pivot. But Komal seems to be asking about our action today (14th Nov) !
What would be our action if 4 PM bar went upto 2893, or any level breaching the high of 3 PM bar + room.... would we go long! Your answer is no as seems from your posts. But for a sideways move if we need 3 bars or more concecutively than you are correct , otherwise we would be going long above 3 PM high. Just trying to see the chart from a distance : After 11 AM the price has tried to cross 2868 but failed in all the bars there after...12 Noon bar high 2868(retraces to 2805), 1 PM bar high 2846(retraces to 2788), 2 PM bar high 2867(retraces to 2771), 3 PM bar high 2868(retraces to 2770) we have lower lows in all these bars where as all bars fail to cross the high...now if the 4 PM bar crossed this hurdle with a room (filter) why should we wait for tomorrow?
I may be erring by differentiating between the situation at 10 and 11 AM bars and the above mentioned bars but thats the way I see things. At 10 and 11 only two bars are involved and one of them is just 5 minutes bar.
Please post your views on the scenario once again, does not matter if you still feel that we wait till Monday. We are all in learning process still.
What would be our action if 4 PM bar went upto 2893, or any level breaching the high of 3 PM bar + room.... would we go long! Your answer is no as seems from your posts. But for a sideways move if we need 3 bars or more concecutively than you are correct , otherwise we would be going long above 3 PM high. Just trying to see the chart from a distance : After 11 AM the price has tried to cross 2868 but failed in all the bars there after...12 Noon bar high 2868(retraces to 2805), 1 PM bar high 2846(retraces to 2788), 2 PM bar high 2867(retraces to 2771), 3 PM bar high 2868(retraces to 2770) we have lower lows in all these bars where as all bars fail to cross the high...now if the 4 PM bar crossed this hurdle with a room (filter) why should we wait for tomorrow?
I may be erring by differentiating between the situation at 10 and 11 AM bars and the above mentioned bars but thats the way I see things. At 10 and 11 only two bars are involved and one of them is just 5 minutes bar.
Please post your views on the scenario once again, does not matter if you still feel that we wait till Monday. We are all in learning process still.
Thanks Dear RK Give me some time will update with my views .... yes these scenarios are after last bar formed looking at last bar waiting for monday
Regards
Satya
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