Going With The 60min Flow!!!

[Pattel]

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

You could have added on crack of previous PLs at 64 and 61.3 (or nearabouts) pattel, we dont look helplessly when the stock sells off so strongly . We have earlier pivots lows so use them to add .In this way you take aggressive action but at the same time stay within the system rules.

It is just a suggestion,not to say that waiting to add till the low of huge WRB is incorrect. But these adds would have made a big difference,I am sure.

Best Wishes,pattel

Smart_trade

Thats a good idea ST.

But if we are strictly following our method rules, add with reference to lower time frame like 30 min was not done in the past (we have taken Pivot from lower time frame before but not adds) or with reference to other pivots than the SAR pivot (we forget it as past as soon as we reverse our positions).

It would be interesting to take a look at the January huge fall situation in various stocks to get an idea. Definitely adding on a lower time frame lows and previous pivots are possible options, assuming we are ready to take that extra risk(since stops remains where it is). It's like someone falling from 5th floor straight down cannot get up and run that easily so assuming a greater risk makes sense.

Market gives another opportunity to learn.


-Pattel

 

[niftychance]

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

Hello

Excel Position size Calculator for the 60 Min flow Method.

Thanks

 

[beethoven]

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

ST/Rakesh,

On actual trading bar by bar of NF on Jan 9 - I took 12 noon bar as a WRB. This had a bottoming tail which made me decide to shift the SAR to 12 noon bar Hi + filter at 12:01 pm. This bar practically became PH and PL as I would have added on the break of this bar's low - filter. This SAR remained till the end of the day and was saved from breaking by a whisker by 3 pm bar.

Hope this approach was correct.

Now lets see this a bit more closely - 1 pm bar was bearish and closed very strong at the bottom but did not take out the low of 12 noon bar. The next bar, 2 pm bar was a bullish engulfing bar which also closed very strong or near the top. Now at this stage we know that the strong downturn of past 8 hours or so has been broken and market has a strong probability of a reversal.

2 pm bar is also a WRB of sorts, now had I shifted my SAR to Hi of this bar + filter then I would have been long by now.

Given the way you both see the price action, I think, Rakesh and you would be long in NF now.

Kindly comment on this.

Thanks

Bee

 

[Smart_trade]

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

ST/Rakesh,

On actual trading bar by bar of NF on Jan 9 - I took 12 noon bar as a WRB. This had a bottoming tail which made me decide to shift the SAR to 12 noon bar Hi + filter at 12:01 pm. This bar practically became PH and PL as I would have added on the break of this bar's low - filter. This SAR remained till the end of the day and was saved from breaking by a whisker by 3 pm bar.

Hope this approach was correct.

Now lets see this a bit more closely - 1 pm bar was bearish and closed very strong at the bottom but did not take out the low of 12 noon bar. The next bar, 2 pm bar was a bullish engulfing bar which also closed very strong or near the top. Now at this stage we know that the strong downturn of past 8 hours or so has been broken and market has a strong probability of a reversal.

2 pm bar is also a WRB of sorts, now had I shifted my SAR to Hi of this bar + filter then I would have been long by now.

Given the way you both see the price action, I think, Rakesh and you would be long in NF now.

Kindly comment on this.

Thanks

Bee

Hello Bee,

Your thought process is absolutely correct except I will not consider 12:00 bar as a WRB for the treatment we give to WRB in our trading. This is because this bar is a large bar but closed way too away from low to merit a WRB treatment.So I would not reverse at the high of this bar if 1:00 bar is not the way it is now.

With 1:00 bar,the flow seems to have reversed to up when high of this bar was taken out.So I consider this 1:00 bar high as a PH. In normal situation I would have gone long above the high of 1:00 bar with low of 2:00 bar as SAR but considering waterfall nature of this downmove would like to get some more confirmation about reversal of flow to up so keeping SAR at 3:00 bar high with SAR at 2814-f . But if someone has reversed to long above 1:00 bar high +f he is absolutely correct.

Best wishes,

Smart_trade

 

[Smart_trade]

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

Hello

Excel Position size Calculator for the 60 Min flow Method.

Thanks

Great position size calculator NC.It will be very handy and useful to us for backtesting with various risk % and also while trading..Thanks for sharing it with us.

Smart_trade

 

[alokdaga]

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

ST/Rakesh,

On actual trading bar by bar of NF on Jan 9 - I took 12 noon bar as a WRB. This had a bottoming tail which made me decide to shift the SAR to 12 noon bar Hi + filter at 12:01 pm. This bar practically became PH and PL as I would have added on the break of this bar's low - filter. This SAR remained till the end of the day and was saved from breaking by a whisker by 3 pm bar.

Hope this approach was correct.

Now lets see this a bit more closely - 1 pm bar was bearish and closed very strong at the bottom but did not take out the low of 12 noon bar. The next bar, 2 pm bar was a bullish engulfing bar which also closed very strong or near the top. Now at this stage we know that the strong downturn of past 8 hours or so has been broken and market has a strong probability of a reversal.

2 pm bar is also a WRB of sorts, now had I shifted my SAR to Hi of this bar + filter then I would have been long by now.

Given the way you both see the price action, I think, Rakesh and you would be long in NF now.

Kindly comment on this.

Thanks

Bee

If filter would have been 15 or more - would it be triggered? According to my charts - would not have been. Regards

 

[beethoven]

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

If filter would have been 15 or more - would it be triggered? According to my charts - would not have been. Regards

Alok

As per my charts, 2 pm bar hi is 2875.15 and 3 pm bar hi is 2896.90. So I guess I would have been long had I kept my SAR at 2 PM bar hi + filter.

Bee

 

[beethoven]

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

Hello Bee,

Your thought process is absolutely correct except I will not consider 12:00 bar as a WRB for the treatment we give to WRB in our trading. This is because this bar is a large bar but closed way too away from low to merit a WRB treatment.So I would not reverse at the high of this bar if 1:00 bar is not the way it is now.

With 1:00 bar,the flow seems to have reversed to up when high of this bar was taken out.So I consider this 1:00 bar high as a PH. In normal situation I would have gone long above the high of 1:00 bar with low of 2:00 bar as SAR but considering waterfall nature of this downmove would like to get some more confirmation about reversal of flow to up so keeping SAR at 3:00 bar high with SAR at 2814-f . But if someone has reversed to long above 1:00 bar high +f he is absolutely correct.

Best wishes,

Smart_trade

Thanks ST for this reply and I find your way of reading the situation very interesting and has given me another way to look at this situation. Another thing which made me consider 12 noon bar as I have explained was - the price has to reverse after this tremendous downturn - now the bar was not a WRB strictly as per the definition we have, as it closed way too high from the bottom -- but the very fact that the price has traveled so far down and reversed (nearly 40 points) upto slightly more than 50% of the bar itself is a very significant factor to put us on guard.

Good to see your point of view too.

3 PM bar hi is PH now anyway, no doubt on that but can you please tell me where was your SAR at 12.01 pm?

Bee

 

[Smart_trade]

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

Thanks ST for this reply and I find your way of reading the situation very interesting and has given me another way to look at this situation. Another thing which made me consider 12 noon bar as I have explained was - the price has to reverse after this tremendous downturn - now the bar was not a WRB strictly as per the definition we have, as it closed way too high from the bottom -- but the very fact that the price has traveled so far down and reversed (nearly 40 points) upto slightly more than 50% of the bar itself is a very significant factor to put us on guard.

Good to see your point of view too.

3 PM bar hi is PH now anyway, no doubt on that but can you please tell me where was your SAR at 12.01 pm?

Bee

Agree with your viewpoint , Bee

After 12:00 bar was formed,my SAR was at high 12:00 bar but not because of WRB high being taken out but the high of PL breakdown failure bar being 12:00 bar high at 2887 +f .After 2:00 bar the high of 1:00 bar becomes a PH and gets priority over a breakout failure bars high.

So 12:00 bar high was a reversal point from both view points at 12:01.We have cluster of reversal points at hand now.

Smart_trade

 

[beethoven]

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

Agree with your viewpoint , Bee

the high of PL breakdown failure bar being 12:00 bar high at 2887 +f .

Smart_trade

Excellent way to describe. Many thanks

Bee