Going with the Intraday Mini-Flow!!
- Thread starter Saint
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Re: Intraday Miniflow Trades for Today: Saint's Method
Thanks Kiran for your reply. I understood what you want to say. But still some confusion because in main thread I have read somewhere regarding second move which was reply by Saint Sir to querry raised by Smart_trade.
Quoting the querry and reply as it for reference.....
Question : Originally Posted by Smart_trade
MOVING FILTER:For the NF,put in a moving filter at Rs 14 on the 30min charts.
Not clear Saint, Does it mean that we call a bar a breakout bar(5 min) if the high (low) of that bar is greater(lower) than high (low) of the preceeding bar plus (minus)Rs 14.Once such bar is formed(considering it is a bullish breakout) we add another Rs 14 to the high of the breakout bar and that is our entry point with low of the bar -Rs 7 as SL ?
(Reverse for Bearish breakout bar )
Answer : (Saint Sir)
BAR 1--High of 4325,Low of 4275..........we want the next bar to break past 4325+14=4339.Or go down below 4275-14=4261
BAR 2---High of 4335,Low of 4295.........we are still not in.We want the next bar to break past 4335+14=4349.
BAR 3----High of 4346,Low of 4322....still not in.We want the next bar to break out of 4346+14=4360.Or the low of 4322-7=4315 to get taken out.
BAR 4----High of 4355,Low of 4312......we are now in short.
The Rs14 moving filter is to extract a "Either we are getting that big move,or we are not interested" out of that opening bar.
Also,if you noticed that the short is at Rs7 ..........because it is Move no 2 of the day.We got out of trading Move no 1,from Move no 2 onwards,it is Reversals at Rs7 and adds at Rs5.
Only that first move do we put in that Rs14 and move it bar by bar daring it to take that price out...........rest of the day,no moving around the values.
Please correct me if I am wrong.
Thanks in advance as my thanks button is not activated yet.
Regards
Manoj
Thanks Kiran for your reply. I understood what you want to say. But still some confusion because in main thread I have read somewhere regarding second move which was reply by Saint Sir to querry raised by Smart_trade.
Quoting the querry and reply as it for reference.....
Question : Originally Posted by Smart_trade
MOVING FILTER:For the NF,put in a moving filter at Rs 14 on the 30min charts.
Not clear Saint, Does it mean that we call a bar a breakout bar(5 min) if the high (low) of that bar is greater(lower) than high (low) of the preceeding bar plus (minus)Rs 14.Once such bar is formed(considering it is a bullish breakout) we add another Rs 14 to the high of the breakout bar and that is our entry point with low of the bar -Rs 7 as SL ?
(Reverse for Bearish breakout bar )
Answer : (Saint Sir)
BAR 1--High of 4325,Low of 4275..........we want the next bar to break past 4325+14=4339.Or go down below 4275-14=4261
BAR 2---High of 4335,Low of 4295.........we are still not in.We want the next bar to break past 4335+14=4349.
BAR 3----High of 4346,Low of 4322....still not in.We want the next bar to break out of 4346+14=4360.Or the low of 4322-7=4315 to get taken out.
BAR 4----High of 4355,Low of 4312......we are now in short.
The Rs14 moving filter is to extract a "Either we are getting that big move,or we are not interested" out of that opening bar.
Also,if you noticed that the short is at Rs7 ..........because it is Move no 2 of the day.We got out of trading Move no 1,from Move no 2 onwards,it is Reversals at Rs7 and adds at Rs5.
Only that first move do we put in that Rs14 and move it bar by bar daring it to take that price out...........rest of the day,no moving around the values.
Please correct me if I am wrong.
Thanks in advance as my thanks button is not activated yet.
Regards
Manoj
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