Going With The 60min Flow!!!

[rakeshluthra430]

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

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

Vinst, Pattel,
The difference here is of perspective. I knew this question would come up and so had stated that I didnt consider those bars as WRBs.Now...look at the same chart with a little more history. There rests my answer.

However, nothing wrong if you considered and traded them as WRBs.

Well done,
Rakesh

 

[beethoven]

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

ST/Rakesh,

Do you think some discussions can be had on major candlesticks and their pattern (combination of candlesticks) which we encounter on 60 min flow often or will that be extraneous to the rules already laid down by Saint?

Bee

 

[rahulyadav1982]

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

Dear all

can any one tell me about put & call?
how do we trade in these.?

Rahul

 

[shinchan]

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

ST/Rakesh,

Do you think some discussions can be had on major candlesticks and their pattern (combination of candlesticks) which we encounter on 60 min flow often or will that be extraneous to the rules already laid down by Saint?

Bee

Probably a better place will be

http://www.traderji.com/technical-analysis/16436-trading-under-candle-light-2.html

some nice attachments by Lucky Trader - post no. 14,15,16,27,31 & 36 -zipfiles(word)

by yasu222 - post no. 29 -pdf

by Devangan - post no. 44 - ppt

saint also promised to contribute to the discussions.

Probably as Lucky throws up the theory bit,could look to add some practical stuff......

Nice name for this thread,Lucky...all the best!

Saint

 

[Smart_trade]

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

Dear all

can any one tell me about put & call?
how do we trade in these.?

Rahul

Hello Rahul,

I am afraid this is a wrong thread for your question.This thread is for a specific method of trading index/stock futures we all trade.

You have to study some basics of options. I suggest you look up in derivatives section and in that option sub section. You will find plenty of information there.

Best Wishes,

Smart_trade

 

[Smart_trade]

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

ST/Rakesh,

Do you think some discussions can be had on major candlesticks and their pattern (combination of candlesticks) which we encounter on 60 min flow often or will that be extraneous to the rules already laid down by Saint?

Bee

Bee,

I have no objection in having any discussion on any candlestick pattern as long as it is incidental to and within the parameters of 60 min flow method template. But how do we ensure that ? The discussion may drift to a full fledge candlestick pattern discussion and the 60 min flow method will take a backseat. You and me know the system so no confusion,but this thread is for newcomers and they will surely get confused with so much new stuff thrown at them and it may give the impression that the candlestick patterns trading is part of 60 min flow template and our 60 min flow method will loose its unique method and identity , which I am sure we all don't want.

Let us see what Rakesh and others think on this point. But the solution suggested by Shinchan appears more apt as of now.


Best Wishes,

Smart_trade

 

[Smart_trade]

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

Probably a better place will be

http://www.traderji.com/technical-analysis/16436-trading-under-candle-light-2.html

some nice attachments by Lucky Trader - post no. 14,15,16,27,31 & 36 -zipfiles(word)

by yasu222 - post no. 29 -pdf

by Devangan - post no. 44 - ppt

saint also promised to contribute to the discussions.

Hey Shinchan,

I am always amused by people misquoting Saint out of context but you beat all of them hollow by quoting Saint's more than 1 year back post and announcing Saint has promised to post in that thread.

Guys are improving in their skills I must say !!!

Take it lightly, only fun is intended.

Best Wishes,

Smart_trade

 

[beethoven]

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

ST

I agree with what you say. My idea was to discuss candlesticks strictly within 60 min flow method as we do see these very closely for signs of reversals to put us on guard but actual action is only taken as per the rules of 60 min flow method.

This thread is anyway on a higher level - beginners are best advised to go to the mother thread and the one by Sam for concise rules. We have traveled together and have reached this level of proficiency after a grueling journey of three or more months of intensive teaching by Saint and stalwarts like you and Rakesh.

Net and other books have enough material on candlesticks and none of us here is a novice on candlesticks but I have always said bookish knowledge and the skill to put your money on a specific reading of price action are two very different things.

I think most of us who have been with this thread for last few months have grasped what ever has been discussed till now; and what ever now is happening are just minor variations in understanding the situation with their own risk taking ability and there is no major confusion on rules now.

So what do we do -- let this thread die its natural death (I think miniflow is in that situation now) or we look to hone our skills in some area which I think still has some scope of discussion left. Again I know what you mean - candles per se should not take precedence over rules of 60 min flow.

We can study candlesticks patterns of only charts presented in this thread or in mother thread so that should restrict our study to this method only.

Some thoughts to mull over

Thanks

Bee

 

[Pattel]

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

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

Bee,
Thanks. On Jan 1st RELCAP was making higher highs on hourly bar and hence i placed a trade after 3rd bar, my trade got triggered towards end of the day with filter. It's kind of V reversal similar to 29th except bar size difference. Also previous day last 2 candles confirms that bears are not strong enough. My views for this trade.

 

[Pattel]

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

Just sharing Saint's definition on WRB and trades around it. From "Teach a man..."

Wide Range Bar
When you get a Wide Range Bar ,especially out of a basing consolidating sideways move, get ready for a big move in that direction.
Don't expect it to pullback and give you an opportunity to climb aboard. Sometimes it does, but in many times, it keeps exploding
higher.

What is a WRB? Don't complicate things by adding more criteria than the simple fact, a bar that makes a wide move in that time
frame and closing at or near the high of that bar/candle.

The beauty of a WRB if you get one, buy the pullback, with a stop below the low of that very bar. Else, buy the high of that bar. If
we get a WRB and it reverses, a WRB failure is an ominous sign of a big move down.

Another thing to look at: A WRB with accompanying increase in volume out of a sideways base
And look out for a WRB that can happen after a big rally could signify a turnaround soon
So, look out for the WRB!