Going With The 60min Flow!!!
- Thread starter Saint
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18th Nov,Komal...
....Absolute No!......Multiple bars down on the hourly chart,not the daily chart,and as you correctly mentioned,a strong bullish candle,none of that was there.That day was a hold short and relieved that a gap down negated the end of day rally and went on to new lows.
Nothing to be done on 18th.....Sit tight and enjoy.....Something that I notice that many find extremely difficult.Doing nothing is doing a lot in this strategy,......Adopt the lazyman approach in this strategy......
Coming over to today......Multiple big bars down on the 60min charts.Big gap down.Bullish candle opening.....Yep,we would have employed it......Before I go to what should have been done,or was done today,I want everyone to understand the reason behind the rule......We are worried that we are going to get a gap down after a protracted bearish move on the 60,and then have a V shaped reversal to the highs .We therefore take the high of that first bar,add our filter,and go long.
Now today's case,we have Bar2 closing at abt the same levels,Bar 3 bearish.......yep,what comes into play is no more the Gap Rule.Stops remain at 2 bars back which is still miles off.Still short.
Saint
....Absolute No!......Multiple bars down on the hourly chart,not the daily chart,and as you correctly mentioned,a strong bullish candle,none of that was there.That day was a hold short and relieved that a gap down negated the end of day rally and went on to new lows.Nothing to be done on 18th.....Sit tight and enjoy.....Something that I notice that many find extremely difficult.Doing nothing is doing a lot in this strategy,......Adopt the lazyman approach in this strategy......
Coming over to today......Multiple big bars down on the 60min charts.Big gap down.Bullish candle opening.....Yep,we would have employed it......Before I go to what should have been done,or was done today,I want everyone to understand the reason behind the rule......We are worried that we are going to get a gap down after a protracted bearish move on the 60,and then have a V shaped reversal to the highs .We therefore take the high of that first bar,add our filter,and go long.
Now today's case,we have Bar2 closing at abt the same levels,Bar 3 bearish.......yep,what comes into play is no more the Gap Rule.Stops remain at 2 bars back which is still miles off.Still short.
Saint
we are short on nifty then we have a big gap down . we prepare ourself for reversing on 5 min bar . a 5 min bar made but the 2nd bar broke low of 5 min bar ..
then now if the 3rd bar cross the high of 5 min bar we will not reverse to long .we will wait for pivot to form or 2 bar rule ..
plz tell me is my understanding is correct?
regards
vineet
N
Dear Friends,
I am doing options trading since a long time and am a succesful options intraday and positional trader. I am also a member of the NSE and my company predominantly is a trading house for proprietary trades.
I have decided to spend some time in correlating this superb Saint 60 min flow system with my options experience to see what results I can offer.
In case any of the collegues here can provide a tabulated (or textual) data and timewise/ system generated signals on NF and (or) selected stocks , I will be happy to do the study and share my study results with all of you.
regards,
alok
I am doing options trading since a long time and am a succesful options intraday and positional trader. I am also a member of the NSE and my company predominantly is a trading house for proprietary trades.
I have decided to spend some time in correlating this superb Saint 60 min flow system with my options experience to see what results I can offer.
In case any of the collegues here can provide a tabulated (or textual) data and timewise/ system generated signals on NF and (or) selected stocks , I will be happy to do the study and share my study results with all of you.
regards,
alok
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