Going With The 60min Flow!!!
- Thread starter Saint
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Re: 60min Flow Trades for the Week: Saint's Method
Hi Rakesh,
I took 2pm bar on Dec 1 of ABAN as WRB and added there. Why wudn't it be considered as WRB?
regards,
vin
Hi Rakesh,
I took 2pm bar on Dec 1 of ABAN as WRB and added there. Why wudn't it be considered as WRB?
regards,
vin
Re: 60min Flow Trades for the Week: Saint's Method
Rakesh,
My ABAN trades are slightly different. Long on pivot break and add on every hourly (including the reversal bar itself, of course MM permitted, and considering those 2 bars as WRB)bar except 2-3pm bar. 5th add came on 2nd morning above 5 min bar.
Curious to know your view on why you didn't consider those bars as WRB. Not trying to say right or wrong by comparing, just to learn
Rakesh,
My ABAN trades are slightly different. Long on pivot break and add on every hourly (including the reversal bar itself, of course MM permitted, and considering those 2 bars as WRB)bar except 2-3pm bar. 5th add came on 2nd morning above 5 min bar.
Curious to know your view on why you didn't consider those bars as WRB. Not trying to say right or wrong by comparing, just to learn
Re: 60min Flow Trades for the Week: Saint's Method
There is some discussion on WRB. I wish to add my 2 cents as under :
1) WRB means a strongly bullish or bearish bar from start to finish. The WRB should stand out and be clear to our eyes without any microanalysis. WRB in my mind means a bar which is atleast 1.6 times the average bar length ,ideally more than 2 times the average bar.
2) WRB should have very large body and small vicks of the candle. Length of top and bottom wicks taken togather should be less than 20% of the total length of the bar ,ideally it should be less than 10 % .In case of bullish WRB, the length of open - low plus High - close added togather should be less than 10 % of High - Low distance, mirror image for bearish WRB.
To illustrate see 2:00 bar of Nifty Fut on 31 Dec 2008. Is it a WRB ? No because the length of the wicks is more than 50 % of H-L length. If you take only total length it will pass as WRB but on condition No 2 above,is fails to be called and treated as WRB.
Best Wishes,
Smart_trade
EDIT : Sorry Bee, my post is not meant to be a reply to your querry. A bit of goof up by me. Clarified in the further post.
ST
Pattel
Nice work and good trades. One question: RELCAP - can you tell me the reason to go long over 12 noon bar hi on Jan 1?
Thanks
Bee
Nice work and good trades
. One question: RELCAP - can you tell me the reason to go long over 12 noon bar hi on Jan 1?Thanks
Bee
1) WRB means a strongly bullish or bearish bar from start to finish. The WRB should stand out and be clear to our eyes without any microanalysis. WRB in my mind means a bar which is atleast 1.6 times the average bar length ,ideally more than 2 times the average bar.
2) WRB should have very large body and small vicks of the candle. Length of top and bottom wicks taken togather should be less than 20% of the total length of the bar ,ideally it should be less than 10 % .In case of bullish WRB, the length of open - low plus High - close added togather should be less than 10 % of High - Low distance, mirror image for bearish WRB.
To illustrate see 2:00 bar of Nifty Fut on 31 Dec 2008. Is it a WRB ? No because the length of the wicks is more than 50 % of H-L length. If you take only total length it will pass as WRB but on condition No 2 above,is fails to be called and treated as WRB.
Best Wishes,
Smart_trade
EDIT : Sorry Bee, my post is not meant to be a reply to your querry. A bit of goof up by me. Clarified in the further post.
ST
Last edited:
Re: 60min Flow Trades for the Week: Saint's Method
Yes Alex...saved by a whisker by the filter. A smaller filter would have put us into a Short trade otherwise.
Another aspect/doubt here would/could have been considering the 2pm bar as a WRB and hence shorting its low....which I am going to answer in the following post.
Rakesh
Yes Alex...saved by a whisker by the filter. A smaller filter would have put us into a Short trade otherwise.
Another aspect/doubt here would/could have been considering the 2pm bar as a WRB and hence shorting its low....which I am going to answer in the following post.
Rakesh
Re: 60min Flow Trades for the Week: Saint's Method
Sorry,Bee the above post was not meant as a reply to your post. It is a general post.But instead of " Post Reply" pressed "Quote " button by mistake.
Not knowing how to edit it now. Pretty bad in these tech stuff. Hope you will excuse me my friend
ST
Sorry,Bee the above post was not meant as a reply to your post. It is a general post.But instead of " Post Reply" pressed "Quote " button by mistake.
Not knowing how to edit it now. Pretty bad in these tech stuff.
Hope you will excuse me my friendST
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