Re: Intraday Miniflow Trades for Today: Saint's Method
Dear ST,
Thanks for your analysis. "Intraday trading is not about just following a few rules. It is also a great deal about listening to what market is saying."These are golden words and we must listen to market.
Some of our friends did not have a great day in miniflow today. Todays miniflow was to be traded differently listening to what the market was telling us. I am posting the NF chart below :
Upto 11:30 bar,there was no trade but till 11:30 it was clear that the first move was up. At crack of 11:30 bars low - small pivot,short trade was triggered.
The market sold off and we were happy in our short position,in 12:30 bar it made a new low,lower than the morning low and yesterdays low.
Now friends here comes the decider. The Dow was down 300 points and we opened just 40 points down. Not a good market action. Then after opening we had a 2 hrs upmove,again mkt is telling us that it is not predisposed to go down.
At 12:30 bar when the lows were broken,we expected a follow through and market to tank. But market reversed this breakdown and again came above 2875-2885 range which it falsely broke. This was a final call from the market that it JUST DOES NOT WANT TO GO DOWN. We still decided to give some more rope to it,but when the high of 12:30 bar was taken out,market was begging to be bought and we reversed. This was the best move of the day.
We had one add and booked 1/3 profits. The last bar showed good traction so we remained long till the end and then at the end liquidated the balance position.
A great day if one listens to what market is saying . Intraday trading is not about just following a few rules. It is also a great deal about listening to what market is saying......
Best Wishes,
Smart_trade
Upto 11:30 bar,there was no trade but till 11:30 it was clear that the first move was up. At crack of 11:30 bars low - small pivot,short trade was triggered.
The market sold off and we were happy in our short position,in 12:30 bar it made a new low,lower than the morning low and yesterdays low.
Now friends here comes the decider. The Dow was down 300 points and we opened just 40 points down. Not a good market action. Then after opening we had a 2 hrs upmove,again mkt is telling us that it is not predisposed to go down.
At 12:30 bar when the lows were broken,we expected a follow through and market to tank. But market reversed this breakdown and again came above 2875-2885 range which it falsely broke. This was a final call from the market that it JUST DOES NOT WANT TO GO DOWN. We still decided to give some more rope to it,but when the high of 12:30 bar was taken out,market was begging to be bought and we reversed. This was the best move of the day.
We had one add and booked 1/3 profits. The last bar showed good traction so we remained long till the end and then at the end liquidated the balance position.
A great day if one listens to what market is saying . Intraday trading is not about just following a few rules. It is also a great deal about listening to what market is saying......
Best Wishes,
Smart_trade
Thanks for your analysis. "Intraday trading is not about just following a few rules. It is also a great deal about listening to what market is saying."These are golden words and we must listen to market.
