Going With The 60min Flow!!!

[vinst]

Re: Live discussion Saint's - 60 minute flow

This week's my trade in nifty future.

Hello Srini,

Thanks for the chart. I am keeping NF short SL based on 2bar method, now above 2pm bar high+f.

regards,
vin

 

[Pattel]

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

Thanks for the clear chart,pattel,as always.

There is nothing right or wrong in trading. One trades his beliefs and what he sees in the market. Since you asked the question, I am giving below a little different way I would have traded this latest reversal.

Upto 11:00 bar on 26th ,market was going up .12:00 was was a "doing nothing" kind of a bar. Now see the 1:00 bar,this is important. It started at the top,came all the way down to its bottom and again pulled up by the bulls and finally closed near its open ,giving us a hammer with a long tail. Great,bulls are trying their best to take it up. The next bar ie 2:00 bar,the mkt went little above the 1:00 bar high and we thought bulls are regaining their ground,but then they loose control and the market crashes,cracking 1:00 low and for me it is a PL and I would have reversed below this low (around 59.6).

The first add would have been below the WRB at 2:00 bars low( around 58.5). The second add in 3:00 bar(around 57.4) when a clear PL was cracked and that is where you took a reversal trade. Third add below WRB at 3:00 low cracked in last bar ( if triggered depending on the space you give) . This add if your MM and stomach lining allows.

Just putting down the way I would have traded,absolutely no attempt to say that it is the only correct way to trade this reversal.

Best wishes,

Smart_trade

Thanks ST,
Nice explanation. Not trying to see if my trades are right or wrong but to learn if there was another way of looking things for reversal as i felt it was bit late where i reversed.

Suzlon was trying to break that 61.80 resistance last week and it failed thrice forming triple top(nothing to do with our method). So thought i would wait for 2pm bar(obviously my eyes didn't see a reversal point there) to complete which became a WRB, by this time pivot and WRB low were like 30 paise difference (posted chart and share khan chart are bit off on these values). I punched in a add1 @ your add2 and that didn't trigger so just holding initial position.

 

[Reji]

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

Dear Smart _Trade / others,

May I have your trading view of IOB on 24th and 26th? Chart attached. As the first 5 minute bar on 26th opened above the SAR, do we have to consider bar high + big filter, to modify the SAR or normal filter would have been fair enough? Later pivot formed at 11:00 AM. I'm not trading this. Just to reiterate my understanding.

Regards

Reji

 

[lvgandhi]

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

Nifty 60min Trades for the week 22 to 27 Dec 08

Dear Rakesh,
I need a clarification for 26th.
I think we close position in the current series and continue the trade in new series on series end.
On 24th, we change to new series in short.
After 3 days continuous down trend, on 26th, there was a visual gap up opening form 2939 to 2952/54 in Jan series, though not above previous pivot high. But subsequently, it would have crossed or not 26/12 10:00 bar high with filter depending upon filter. Is it because of filter long was averted?

 

[Smart_trade]

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

Dear Smart _Trade / others,

May I have your trading view of IOB on 24th and 26th? Chart attached. As the first 5 minute bar on 26th opened above the SAR, do we have to consider bar high + big filter, to modify the SAR or normal filter would have been fair enough? Later pivot formed at 11:00 AM. I'm not trading this. Just to reiterate my understanding.

Regards

Reji

Hello Reji,

This chart is a case where if you depend solely on pivots for reversal,your entry is very late. Pivots are our main tools in this method but we also require WRB,2 bars rule,breakout/breakdown failure etc as additional tools which help us to identify reversal early.We have to give sufficient leeway to the market to confirm reversal but at the same time not too much leeway so that our reversal becomes too late.The real skill is to strike a delicate balance between early but doubtful reversal and confirmed but too late reversal.
Let us see the trades now :

25-12-2008

In 3:00 bar PL is cracked ,we would be short from earlier on,we could have added to our short position below PL. We are expecting the breakdown to go through. 3:00 bar closes below the Pl ,a srtong bearish bar,so far so good.

The last bar negates the strong breakdown 3:00 bar. I would reverse above high of this bar + space on breakdown failure reason,so we are long when we go into trade on 26 th.

26-12-2008

Market opens with a gap. You could add above first 5 min high + larger space we use for gaps.

11:00 bar strong bullish bar.Our long position comfortable.

12:00 bar a bearish doji or small body bar.First sign of trouble,but doew not warrant any action.But we are on alert.

1:00 bar a bearish WRB reverse and go short below the low of this WRB less space.

Probably add below low of 2:00 bar and hold short with 1 add position.

Best Wishes,

Smart_trade

 

[Reji]

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

Hello Reji,

This chart is a case where if you depend solely on pivots for reversal,your entry is very late. Pivots are our main tools in this method but we also require WRB,2 bars rule,breakout/breakdown failure etc as additional tools which help us to identify reversal early.We have to give sufficient leeway to the market to confirm reversal but at the same time not too much leeway so that our reversal becomes too late.The real skill is to strike a delicate balance between early but doubtful reversal and confirmed but too late reversal.
Let us see the trades now :

25-12-2008

In 3:00 bar PL is cracked ,we would be short from earlier on,we could have added to our short position below PL. We are expecting the breakdown to go through. 3:00 bar closes below the Pl ,a srtong bearish bar,so far so good.

The last bar negates the strong breakdown 3:00 bar. I would reverse above high of this bar + space on breakdown failure reason,so we are long when we go into trade on 26 th.

26-12-2008

Market opens with a gap. You could add above first 5 min high + larger space we use for gaps.

11:00 bar strong bullish bar.Our long position comfortable.

12:00 bar a bearish doji or small body bar.First sign of trouble,but doew not warrant any action.But we are on alert.

1:00 bar a bearish WRB reverse and go short below the low of this WRB less space.

Probably add below low of 2:00 bar and hold short with 1 add position.

Best Wishes,

Smart_trade

Hi Smar_trade,

Thank you very much for your quick response with all details. The above post is really hepful, not only for me but also many others, who visit this thread. As Saint says, you have a great eye.

Wish you all the best.

Reji

 

[Smart_trade]

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

Hi Smar_trade,

Thank you very much for your quick response with all details. The above post is really hepful, not only for me but also many others, who visit this thread. As Saint says, you have a great eye.

Wish you all the best.

Reji

Thanks for the kind words,Reji.

Anyone with lot of practice of applying Saint sir's method on different charts can develop the "eye" for trades and reversals. I still remember that I used to struggle for locating simple pivots in my early days. So the good news is anyone who works hard on this method can be very proficient in trading this method. The credit entirely goes to Saint sir for replying our basic and many times repetative questions with so much patience so that we could learn this wonderful method of trading.

Best Wishes,

Smart_trade

 

[rakeshluthra430]

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

Dear Rakesh,
I need a clarification for 26th.
I think we close position in the current series and continue the trade in new series on series end.
On 24th, we change to new series in short.
After 3 days continuous down trend, on 26th, there was a visual gap up opening form 2939 to 2952/54 in Jan series, though not above previous pivot high. But subsequently, it would have crossed or not 26/12 10:00 bar high with filter depending upon filter. Is it because of filter long was averted?

LVG,
We entered the Shorts on 22 Dec..and not on 24 Dec.

Now, as you said, we opened Friday above the previous pivots on the 1month futures contract.....so we move stops above the first 5 min high plus filter.

I was saved from that Long because of a higher filter. Even if you had gone long because of smaller filters...you would get into shorts on crack of 4pm low of 24 Dec....eventually putting all of us into Short position at end of day.

Hope this answers your question.

 

[Satyen]

Re: Live discussion Saint's - 60 minute flow

Dear satya,

Here's the NF 60min S/R with arrows showing what you would have wanted to short confidently.

regards,
vin

Thanks dear vin ....... if the bounce was from exact level then it would be great any ways used that GAP to ADD
Regards
Satya

 

[niftyrider]

Re: Live discussion Saint's - 60 minute flow

NIFTY SAR two eight seven nine add filter?
is correct