Going With The 60min Flow!!!

[rakeshluthra430]

Re: 60min Flow Trades for the Week: Saint's Method

Last trade Short could be trigerred little early at 69.8. Aggressive pivot same as you applied for Nifty.
Why a different rule over here.??

Completely agree on HDIL, NIFTY and ABAN.

Agree with you on that....

However if you keep stops at the WRB low at 68.6, thats also ok.

Rakesh

 

[rakeshluthra430]

Re: 60min Flow Trades for the Week: Saint's Method

My other trades with suzlon and relcap still long. can post charts if anyone interested.

Good work Rakesh on posting charts! sorry to jump the gun, we were half way through the weekend, right

Pattel,
Most welcome to post charts here....remember, aim for everyone here is to learn.

..come on, I was just joking. Yes, I was late in posting. Will try to be more responsive in future.

Thanks,
Rakesh

 

[beethoven]

Re: 60min Flow Trades for the Week: Saint's Method

I think many of us have doubts regarding the shorts taken at 2769- instead of 2726-.

First....lets ask ourselves, where were our stops going into trade on Friday? Were they at that clear pivots at 2688, or the low of WRB formed by 3 pm bar on Thursday (2726)? I had them at the WRB low......will discuss more about WRBs later as we go ahead in this thread.

Now coming to the trade. Friday, we had a lower opening bar, with the lows lower than the 3.30 bar of 4 Dec. The 11am bar proceeded lower...forming a low at 2769. Thereafter, the same bar moved up...taking out the pivot high at 2804. The moment it does it, we have a fresh breakout towards the long direction...now we are expecting the prices to move up....and so raise our stops up to 2769.

I dont know if I have been able to make this clearly understandable.....but see, fresh breakout....failure of that breakout immediately...leads us to have double conviction of going short at that pivot point of 2769. I know this doesnt satisfy the 3 finger rule etc etc...

Ok....lets take another scenario. Suppose the 11am bar were not to go just marginally higher and not challenge 2804. What would we do then? The response would have been different...we would have waited for a higher pivot to raise our stops and keep maintaining our stops at 2726- in that case. And one more thing..we are not looking at 30min charts in the flow now.

Hope its clear to all now.
Rakesh

Excellent post Rakesh!!!!

Very clearly explained. Look forward to reading many such posts in future also. Request you to take up one or two of such trades every week to explain the nuances of price movement.

Great work. Thanks.

Bee

 

[beethoven]

Re: 60min Flow Trades for the Week: Saint's Method

Rakesh, ST and other stalwarts of 60 min flow.

I personally think one week is too long a period to wait and review because the questions pile up especially now as people are actively trading various stock futures too. I think mid week review on Wednesday should be a good idea if Rakesh, ST & others can take some time out for this midweek review.

I mean the reply need not be given on Wednesday night itself but can start on Wednesday night for all questions upto Wednesday evening which can be reviewed and replied till Friday when another set of questions/trades turn up for servicing throughout the week end.

Thanks for your support to continue teaching in the great tradition of Saint

Bee

 

[bandlab2]

Re: 60min Flow Trades for the Week: Saint's Method

I think many of us have doubts regarding the shorts taken at 2769- instead of 2726-.

First....lets ask ourselves, where were our stops going into trade on Friday? Were they at that clear pivots at 2688, or the low of WRB formed by 3 pm bar on Thursday (2726)? I had them at the WRB low......will discuss more about WRBs later as we go ahead in this thread.

Now coming to the trade. Friday, we had a lower opening bar, with the lows lower than the 3.30 bar of 4 Dec. The 11am bar proceeded lower...forming a low at 2769. Thereafter, the same bar moved up...taking out the pivot high at 2804. The moment it does it, we have a fresh breakout towards the long direction...now we are expecting the prices to move up....and so raise our stops up to 2769.

I dont know if I have been able to make this clearly understandable.....but see, fresh breakout....failure of that breakout immediately...leads us to have double conviction of going short at that pivot point of 2769. I know this doesnt satisfy the 3 finger rule etc etc...

Ok....lets take another scenario. Suppose the 11am bar were not to go just marginally higher and not challenge 2804. What would we do then? The response would have been different...we would have waited for a higher pivot to raise our stops and keep maintaining our stops at 2726- in that case. And one more thing..we are not looking at 30min charts in the flow now.

Hope its clear to all now.
Rakesh

Thanks rakesh, now it matches the explanation on post 218 by nifty_trader

 

[KomaL2099]

Re: 60min Flow Trades for the Week: Saint's Method

Komal,
Its Ok to disagree...

Just that I tend to infer more from the WRB formed at 3pm on Thursday. Now....compare this with a similar move taken in Nifty....you will realise the difference.
Had the 11am bar of Friday taken out the highs of Thursday....I would definitely have gone short at that pivot. As of now...I consider it a sideways move with stops still at that WRB low.

Rakesh

Its not sideways movement rakesh .. it formed a clear pivot.

 

[beethoven]

Re: 60min Flow Trades for the Week: Saint's Method

Its not sideways movement rakesh .. it formed a clear pivot.

Komal, sideways movement is yet to...pening. People who are long enjoy.:):D Bee

 

[beethoven]

Re: 60min Flow Trades for the Week: Saint's Method

Friends,

Any serious student of 60 min should go thru the mother thread post by post again because we have now gained some knowledge and are now in a position to better understand many innocuous looking statements of Saint and study his charts carefully. Many things will become clear, many new things will emerge.

I have undertaken this task and found a post where Saint had said something about adds on every 60 min on a big downturn like Rakesh did for NF in last week's trades. I wondered how and why he did that.

Page 104, post 1040:

"Adding is always is the key.....basically taking the old adages:Cut your losses,and let your profits run ....and.....Add only to winning positions.

Add RK as always above a previous pivot high,add when you get a gap up,and takes out the 5min high,add to strong fall,every 60min bar.........same stuff.

Saint "]

No wonder Saint gave the mantle of teaching us to Rakesh who is an ace fighter pilot as well as an Ace student of Saint.

Bee

 

[vinst]

Re: Live discussion Saint's - 60 minute flow

No gap rules to be applied to today's open of NF, I guess.

vin

 

[ANBE SHIVAM]

Re: Live discussion Saint's - 60 minute flow

So those who are short now what will be ur plans now.may be to wait for a pivot formation.