Going with the Intraday Mini-Flow!!

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Flock

Flock

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#11,601
#11,601
Re: Saint's Intraday Miniflow - live discussion

Saint Sir,

Thanks for clarifying. Looks like I sat out of a good trade today.

The reason why I didnot take that lower 10:30 bar as first move down is that the LH, LL which it made was by just 3 points to the first bar. Took it as a sideways congestion move, and so took that breakout from the 11 candle as the first move.

Is it ok to decide the first move by the direction of the second bar without taking magnitude into consideration? Or is there any other criteria.

Rgds
 
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myvineet

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#11,606
#11,606
Re: Intraday Miniflow Trades for Today: Saint's Method

jamit_05 said:
Hello Vineet,

A question.

The second trade you said was "at crossing of 2.00 bar high".
So the bar ending 2.30 had its high+7 filter broken. Why wouldnt one take that as an entry?

Besides you said there is no pivot in 15 and hourly doesnt confirm. Please explain how a 15 min pivot would override our decision to buy this high+7 pt break of the bar ending 2.30pm

Tks for bearing with me. Just a few questions to get me started :)

Tks Vineet.
Click to expand...
Hi Amit,

first of all welcome back...

yes, we can reverse at 2.30 bar high+ fil but i take it at 2.00 bar high as a brakedown failure ..may be i am bit late there but my reason can be found in your other query

secondly about pivot of 15 & hourly bar ..basically we trade 30 min charts but when we doesn't get pivot in 30 min & we feel that market may reverse there in "V" shape pattern we try to shift lower time frames ...not much but 15/20 min charts ..if we find any pivot there , we try to reverse there but many times these pivots gives false brekuts too so we want to confirm from hourly bars too ..if they also agreeing to the pivots of 15/20 then we are sure enough to reverse there

just quoting SAINT here ,"Many times,the 15 forms a pivot break and all the moves together give us a 60min reversal candle........other times,we get a candle that looks like a few candles down on the 15 and then a few candles up on the 15,giving us a bottoming tail on the 60.....as in today.That is,the 60 warns of a possible reversal,and then all the others might fall into place.

So,we got a reversal candle on the 60 first......30 and the 15 still bearish.....now we want the 15 and 30 to give us clear cut signs,like probably a higher pivot low,etc......If instead our dreaded V pattern comes along,and triggers off a blast move from that 60min Bottoming Tail,observe stops as always and reverse if hit.....But in this case,the 15 and 30 did pull back,.........looked like making a higher pivot low and then fell flat down......so,it's a Hold on shorts." unquote

hope i am able to answer your query correctly...

regards

vineet
 
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myvineet

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#11,607
#11,607
Re: Intraday Miniflow Trades for Today: Saint's Method

AMIT.. just found that post of SAINT's where he explain about timeframes..

QUOTE:Trading all time frames in one go can be confusing at first.......but rewarding once the cobwebs get cleared.As always,strategies are put in place for events that usually happen,and stops are put in place when something goes against that norm.

Broadly speaking......Trend follows the breakdown or breakout of the first bar.Stops are kept at a distance far enough to prevent us from muddling a good trade.Reversals are our worry.......and we notice that reversals don't happen most of the times,but we have to react when it does,and therefore strategy of trading all three timeframes.

Below are a few scenarios,There are many more.......still in the process of collecting various possibilities.

a)30min Chart is making LH-LL,60min is making LH-LL,and the 15min makes a non-visual pivot break.........will not show up on the 30,60,so no reversal.

b)30min Chart is making LH-LL,then forms a Hammer....15min charts no higher pivot low.....60min charts still bearish.....no reversal

c)30min chart is making LH-LL,......then a doji or a hammer with bottoming tails........15min shows up as a higher pivot low or sideways pattern.....60min shows a doji,etc......Reversal!

d)30min chart shows LL-LH,.......15min shows lower pivot highs and lows.....60min shows yet another bearish candle.........and then a swift move past the previous high on the bearish candle on the 60min chart......Reversal!

e)30min chart shows LL-LH.......all time frames down....and then a WRB on high volume that closes near its lows,followed by a bullish candle(no problem....resting candle....expect the next move to be a continuation move down......not getting it is reversal...Buy above the bullish candle. UNQUOTE

hope it helps..

Regards

vineet
 
jamit_05

jamit_05

Well-Known Member
#11,608
#11,608
Re: Saint's Intraday Miniflow - live discussion

A question.

Saint said

"JAN 31ST:Short at 5121,cover at 5160 +7=5167...Long at 5167,Out at 5191(Pivot on 15 and sideways on 30....cannot expect more on a day that had big move down and then a big move up and now looking to fall again)....Short at 5191,and cover at 5138 at close."

I understand short at 5121. But how does one cover at 5167?

First 5 min bar H = 5187,L = 5135. So, 5135-14 is our short entry. Stop is 5187+7.

Later on, 30 min does not give 4 LH LL bars so the stop should not move, unless a reversal was sensed (or a pivot happened, but in this case there was none)

So, upon spotting a reversal we cover and go long but why at 5160+7? (FYI: 5160 is just the high of the second 30 min bar, nothing special. No 15 min pivot.)

Moreover, after that again a reversal was rightly anticipated and new shorts were initiated at 5191.

Why 5191? I see a 15 min pivot low at 5204. So SAR point should be 5204-7=5197?

Pls guide.
 
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pleaseharsh

pleaseharsh

Well-Known Member
#11,609
#11,609
Re: Saint's Intraday Miniflow - live discussion

amit...
that's the reason i m telling u again and again to go through the archive posts..
no problem....the most answer to yr questions lie in yr post itself....read this excerpt from the saint sir again...:
""JAN 31ST:Short at 5121,cover at 5160 +7=5167...Long at 5167,Out at 5191(Pivot on 15 and sideways on 30....cannot expect more on a day that had big move down and then a big move up and now looking to fall again)....Short at 5191,and cover at 5138 at close."

first and foremost it is clearly stated the "big move down and then big move up"
look at the range of the bar's, pal....
here we get short trigger in 2nd bar(ll,lh) itself...
3rd bar ll,lh ...nifty has already travelled 100pts approx at the low of 3rd bar and it ends as bullish bar...
4th bar ,different move,bullish bar,hh,hl...reverse in progress !! also..
"If we get a situation where we get 5 multiple bars up to 11 am on the 15min charts,.......big monster move up,WRB et al,then and then only do we kick the 2 bar method into the 15min charts"
bring the 2 bar rule in and our stop will come at 5160+7 ..i.e 2nd bar high on 30 tf
so crack of 2nd bar high + filter to long
ok y short again at 5191 ? pivot at 5204 but need support from 30tf too...next bar on 30 tf forms congestion i.e sideways...long in question...go short at prev bar (i.e low of 5198- 7=5191) ..now u can see on 15 tf ..pivot low is also taken out completely with some room.....
hope u get it...
harsh

ps: the way confidently i have explained to u ...puts a doubt in me if i would had traded the same way as done by the sir...
 
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