Going With The 60min Flow!!!

[beethoven]

Re: Live discussion Saint's - 60 minute flow

Komal/Prabh

This is not a big gap up. The prices in most probability will travel back into this gap as natural movement of the big upswing in last 4 and half hours, will take out your stop loss and move on up again.

The gap is in our favour (oops!!! my favour atleast, as I am long) so what's the hurry to reverse? Lets wait for a pivot to form!

My view

Bee

 

[vinst]

Re: Live discussion Saint's - 60 minute flow

Why not applying GAP rule.
I am at todays low-f

I would do that if we have had 2 days of relentless up bars.

regards,
vin

 

[Prabhjeet]

Re: Live discussion Saint's - 60 minute flow

Komal/Prabh

This is not a big gap up. The prices in most probability will travel back into this gap as natural movement of the big upswing in last 4 and half hours, will take out your stop loss and move on up again.

The gap is in our favour (oops!!! my favour atleast, as I am long) so what's the hurry to reverse? Lets wait for a pivot to form!

My view

Bee

Bee the gap is clearly visible on my charts, plus we had all green bars yesterday so this should count as a VISUAL GAP.

Also if you apply Rakesh's new gap rules, we gapped up above last 2-3 days range, so in my view big filter to 5 min. low can be applied today

 

[KomaL2099]

Re: Live discussion Saint's - 60 minute flow

Komal/Prabh

This is not a big gap up. The prices in most probability will travel back into this gap as natural movement of the big upswing in last 4 and half hours, will take out your stop loss and move on up again.

The gap is in our favour (oops!!! my favour atleast, as I am long) so what's the hurry to reverse? Lets wait for a pivot to form!

My view

Bee

hello bee
It has to be just visual gap .. there is no definition of big gap .. it is just visual

 

[KomaL2099]

Re: Live discussion Saint's - 60 minute flow

I would do that if we have had 2 days of relentless up bars.

regards,
vin

Previous day HH formation .. all up bars .. next day gap up .. Gap rule shud be applied .. this the rule ..
If you have some tweak over it . its OK. But as per original rule it is no more trade day 2 or 3 or 4 ..

 

[beethoven]

Re: Live discussion Saint's - 60 minute flow

Bee the gap is clearly visible on my charts, plus we had all green bars yesterday so this should count as a VISUAL GAP.

Also if you apply Rakesh's new gap rules, we gapped up above last 2-3 days range, so in my view big filter to 5 min. low can be applied today

All this is very true Prabh but why do you forget the natural movement of the prices which is basically in waves. Visual gap is there, Rakesh's rule is there, no doubt but application of rules cannot be blind. This upsurge will have a pullback - no doubt on that. But do you want to bet on a reversal here or a higher PL.

It would rather bet on a higher pivot low so I will give the prices some room to make it.

To extend my argument further, there is a very low probability that price will fall back to my SAR point which is now at 2 bar low in one sweep i.e., without making a pivot in between. I will take shelter of that pivot to protect some of my gains.

Am I influencing the thinking in a wrong way here, pl respond so that I may correct myself. Many people are watching this carefully especially newcomers.

Thanks

Bee

 

[beethoven]

Re: Live discussion Saint's - 60 minute flow

Now extending my thoughts further -- which is bordering on art rather than science - if the prices are stuck in congestion zone - like they are now for more than 4 or more hours then elongated pivot (or congestion zone low pivot) will come into picture but till then I will wait for a pivot form even if the low of the congestion is broken within 3 hours.

Again my way of seeing things -- art not science - only time will tell if this is correct or not.

Strange ways life throw up situations at you, being an engineer have always been logical though empirical laws I have practiced but never art.

Bee

 

[Prabhjeet]

Re: Live discussion Saint's - 60 minute flow

All this is very true Prabh but why do you forget the natural movement of the prices which is basically in waves. Visual gap is there, Rakesh's rule is there, no doubt but application of rules cannot be blind. This upsurge will have a pullback - no doubt on that. But do you want to bet on a reversal here or a higher PL.

It would rather bet on a higher pivot low so I will give the prices some room to make it.

To extend my argument further, there is a very low probability that price will fall back to my SAR point which is now at 2 bar low in one sweep i.e., without making a pivot in between. I will take shelter of that pivot to protect some of my gains.

Am I influencing the thinking in a wrong way here, pl respond so that I may correct myself. Many people are watching this carefully especially newcomers.

Thanks

Bee

Bee the important thing here is the Consistency in following the rules, even I am having a very Bullish view at this moment but I will like to trade what I SEE rather than what I THINK.

Look we have always used 5 min. low + larger filter in case of Visual Gaps and when our SAR was hit, it has more or less been a True Trend change. The outcome may be different this time but by following the rule which has more PROBABILITY of success I am trying to put ODDS in my favour and thats what trading is all about PUTTING MAXIMUM ODDS IN OUR FAVOUR.

Dont know how much my artistic mind will help thus having more belief in sytem rather than my hunches and putting SAR below 1st 5 min. Bar

 

[myvineet]

Re: Live discussion Saint's - 60 minute flow

as we have added to our position ..i will more then happy to keep SAR at 5 min bar's low because if that brake now it will be a brakeout failure acc to me

regards

 

[vinst]

Re: Live discussion Saint's - 60 minute flow

My NF long 2 bar SAR at 2906-f now

vin