Going with the Intraday Mini-Flow!!

[vvvv]

Re: Saint's Intraday Miniflow - live discussion

pivot high at 1 pm bar on 30 min which shud be sar
pls confirm

 

[myvineet]

Re: Saint's Intraday Miniflow - live discussion

me too booked 1/3 around 2740

 

[myvineet]

Re: Saint's Intraday Miniflow - live discussion

bringing stop at pivot high of 1.00 bar...

pivot high at 1 pm bar on 30 min which shud be sar
pls confirm

confirm already vikram..

 

[rajesh pawar]

Re: Saint's Intraday Miniflow - live discussion

Booked remaining 1/2 at 2760... No long trade taken since it is too late for an intraday trade.

 

[Flock]

Re: Intraday Miniflow Trades for Today: Saint's Method

vvvv and vineet,

I will try to reply your questions and try to put my thoughts as below in this common post.

Lets see what we have on 6-1-09. We were in a good uptrend for 2-3 days and the market had triggered a buy in the morning and then a sudden deep correction and at the low of correction we had a 15 min PH supported by higher TF so we reversed. A perfect action in that environment.We expected a strong reversal and we got the same that day.

In contrast what do we have yesterday( on 4-2-09) ? We are in a down or sideways swing,then yesterday we had a limping upmove,not strong enough to trigger our buy in the morning,not able to take out our PH with any conviction and then we had a PL break followed by a large negative candle ( I am hesitant to give this candle a WRB treatment .I would like to see full weakness at the close of the bar and would like to see the bar close at near the low of the range preferably in less than10 % of the range and not the way that candle closed),then low of the large bar broken and now we have a PH on 15 min which was no doubt supported by higher TF converging.

Now see that in both the above identical situations our response to 15 min PH will be different. On 6-1-09 I reversed , but on 4-2-09 I would not reverse on 15 min PH .Why so ?? Reasons mentioned in para 2 above. We need some more evidence in the form of 30 min PH taken out or the high of that large negative bar taken out . Now here we were short.... Do we leave our shorts open ? No way,we must book the profits . Why ?? Can the market take 25-30 points reversal ? Yes it certainly can,and our profits will vanish in thin air. Can the market take a strong upmove which will generate profits for us after considering both sides filters ? hmmmm..... not sure yet need some more and stronger evidence. Hence we booked profits in our short positions but not reversed to long on 15 min PH.

hope I am able to convey clearly. Appreciate keen eye of you both vvvv and vineet, I enjoyed giving the reply to the best of my ability.

Best Wishes, You both already trade well , so trade better.

Smart_trade

ST,

Thanks for the detailed explanation. One more question:

Should not our entry for the short be the low of the second bar (10:30) - small filter as it is the only pivot low before that break down.

Rgds

 

[dhakkan]

Re: Intraday Miniflow Trades for Today: Saint's Method

Today was relatively straight forward day.

One Short, few adds and some profit taking.
reversal to Long, and close with some profit.

regards.

 

[niftychance]

Re: Intraday Miniflow Trades for Today: Saint's Method

Hello

Will post my chart in a while...

Inspired by the chart above, Want to adjust the look of it

Similar trades the long same with small profit, but for me Short with just one add.

We are seeing some ranged moves. Nifty seems to reverse after being in profits for about ~ 40 odd points,
so the tendency to take profits is becoming more pronounced ...

One of these days when we get the big moves back, we would be regretting booking more than 1/3 early on

Thanks

 

[VJAY]

Re: Intraday Miniflow Trades for Today: Saint's Method

hI Dhakkan/NF,
How is your short trade come?Please explain.Is you used 15 trf chart to short?

Regards
VJAY

 

[niftychance]

Re: Intraday Miniflow Trades for Today: Saint's Method

Hello

My charts for the day, not good enf but getting there ...

Thanks

 

[Smart_trade]

Re: Intraday Miniflow Trades for Today: Saint's Method

ST,

Thanks for the detailed explanation. One more question:

Should not our entry for the short be the low of the second bar (10:30) - small filter as it is the only pivot low before that break down.

Rgds

Sorry arm,I have not understood your question correctly. Which day are you referring to ? 6-1-09 or 4-2-09 ? Could you please ellaborate a little ?

If you are referring to 4-2-09, sure 2nd bar ( 10:30 bar ) was a PL but we got a short entry at higher level at low of 12 :00 bar -f and we took that trade. It is shown slightly at lower levels in the chart because of filter or space we allow .

Smart_trade