Going With The 60min Flow!!!

[rkkarnani]

I agree with you,vineet,3:00 pm bar yesterday (10-11-08) on 30 min has given us a clear PL at 3100. But we are not looking at 30 min bar anymore due to the confusions we had and known to you. These days we trade pivots on 60 min only.

But if you are comfortable,then no harm trading the way we used to trade earlier.Atleast you could have booked the position at a better place,and reversed on 60 min pivot. Saint has asked us to be aggressive and not remain helpless observer if we can handle it without any confusion.

You could have booked profits on a trendline break and a subsequent crack of 3100,on 2 bars rule and also the fact that we had 8 hourly bars with HH,HL formation. Number of combinations were possible today.

Best Wishes,

Smart_trade

Saint does recommend use of 2 bar reversal in case of verticle moves as yesterday!!! We had a SAR at low of 2 PM bar of 10th Novmber!!

 

[rishig38]

I don't track it full time but if someone wants to take the initiative, then I will try to post my trades there...hope you understand...GOLD trades for almost 13 hours, just too much to track it all the time and post it here....but definitely a good money making opportunity if traded right with the 60min flow...

 

[columbus]

The days have gone when people used to get SHIVERS on inflation figures,
now people are more concerned about IIP figures rather.Tomorrow we are
getting new set of IIP figures.

Any post IIP figures ?????

 

[avinash]

Saint does recommend use of 2 bar reversal in case of verticle moves as yesterday!!! We had a SAR at low of 2 PM bar of 10th Novmber!!

Yes,RK,that's where Saint reversed-Using the 2 bar method.He had posted recently that there really is no choice if there is no pivot and therefore we have to go with the 2 bar method.It is no more just on wide range bars only.No pivot for multiple bars is enough to reverse.

Sincerely,
Avinash

 

[Tapaswi.S]

The days have gone when people used to get SHIVERS on inflation figures,
now people are more concerned about IIP figures rather.Tomorrow we are
getting new set of IIP figures.

Any post IIP figures ?????

Yes friend, In bear market fear/panic rules. People will be waiting for bad news, ignoring all the goodnews if any. Yesterday inflation figures, today IIP data..... Tomorrow ??? Something else.

Tapaswi.S

 

[saikatn]

Positions and SAR
NIFTY -----> SHORT @ 2951 SAR 3018 + 15

ABAN ------> LONG @ 1000/1020 .. SAR 958-20

RCAP -------> SHORT SAR at 659 + 11

JPASSOC -----> SHORT SAR at 90.2 + 1.5

Today added LT and RIL in my list.
LT SAR at 878 + room
RIL SAR at 1226 + room

I am unable to see any pivot today? Was the short based on 30 mins chart? Or was it due to the fact that 3 pm bar crossed 2 pm bar high before breaking low of that - as I can see SAR point was based on that 2 pm bar low. But was it a pivot?
Last pivot, as I can see was on 7th last candle at 2956 - so SAR was at 2956-15=2941.
It is matter of 10 points only, but I need to clear myself.

Saikat

 

[Smart_trade]

I am unable to see any pivot today? Was the short based on 30 mins chart? Or was it due to the fact that 3 pm bar crossed 2 pm bar high before breaking low of that - as I can see SAR point was based on that 2 pm bar low. But was it a pivot?
Last pivot, as I can see was on 7th last candle at 2956 - so SAR was at 2956-15=2941.
It is matter of 10 points only, but I need to clear myself.

Saikat

As we had no pivot nearby in early yesterday,the reversal was at the low of
2:00 bar (of 10/11/08) on 2 bars rule so the level was at 3078-20=3058 which cracked putting us in short position in 11:00 bar yesterday.2 bars rule was certainly a tool to use particularly after we had 8 bars of 60 min with HH,HL on 10/11/08. We have to strike a balance between reversing too early on a tiny pivot if any and strictly waiting for clear 60 min pivot and saying no to 2 bar rule unless you have a WRB,steep rise etc etc.

In a V shaped reversal,not using a 2 bar rule and waiting only for 60 min pivot is a financial "harakiri".

Best Wishes,trade well !!!

Smart_trade

 

[musicjunkie]

NF Stops stand at 3033

MJ-

 

[senty]

Get ready to short ABAN... SAR coming up at 938.

 

[KomaL2099]

ABAN SAR at 958-20 .. keep an eye . its close