Going with the Intraday Mini-Flow!!

[amitpethkar]

Going by the new rules , please change your chart to 20 minutes time frame, and lo and behold, you have a beautiful PL at the low of 11 AM bar ( in 20 minues TF)!! So that is our reversal point less 7/-.
The previous system to trail the SL to the previous bars low less filter is no longer apllied in new set of rules, we are using Pivots only as SAR!!!

Even by the previous rule, the 11 AM bar in 30 minutes chart did not break the high of 10.30 AM bar, hence the SL remained at the low of 10 AM bar less room!! The Sl would change as per old rules only after the 12.30 bar was completed!!! Though this is of no significance now !!!

Thanks for explaining that ccmb. I agree that this system does not use bar by bar triggers. So we keep looking at 15/20 minutes charts and if we are not in the trade and there is clear pivot on 15/20 min then we place entry orders based on pivots. Let me know if I understood it clearly.

But then short taken at 4354 on 5th sept does not fit in the pivot rule.

I just reread the rules again and this is what I found. I hope this first bar in below para is first 30 min.

And another thing:We get a breakout,add the 14 to it.....and then trade breaks down,we are back to Rs7 for reversal entry,etc.This Rs14 is only for the trade that comes along with the first bar even if the first trade comes many bars later.Other than that trade,it's all Rs7 all the way.

Thanks,
Amit

 

[amitpethkar]

Dear Saint,

One of your recent post mentions that you are looking at one reversal pattern on candlestick charts and thinking of incorporating this in mini flow.You have even asked us to contribute our ideas by post here or a PM.

I find that a hammer or hanging man with a long tail or a morning star /evening star pattern (includes Dojistar also) is a very reliable early indication of trend reversal .Is this is what you have in mind ? May be when we get this pattern,we go lo lower time frames pivots to book our unrealised profits and early reversal.

Will be interesting to learn how you incorporate the pattern in pivot based trading .

Best Wishes,


Smart_trade

Although I am not yet 100% clear on this system rules, but I second Smart_Trade.

Look at the SHORT trade on 5th Sept. The bar that broke the day's low converted into hammer which indicates that there is not much selling pressure. Main thing volume was much higher than the preceding -ve bar. I checked this chart because this was the day with highest loss - 78 points.

Thanks,
Amit

 

[Smart_trade]

Although I am not yet 100% clear on this system rules, but I second Smart_Trade.

Look at the SHORT trade on 5th Sept. The bar that broke the day's low converted into hammer which indicates that there is not much selling pressure. Main thing volume was much higher than the preceding -ve bar. I checked this chart because this was the day with highest loss - 78 points.

Thanks,
Amit

Great observation Amit !!!

Smart_trade

 

[uthuman]

I just reread the rules again and this is what I found. I hope this first bar in below para is first 30 min.

And another thing:We get a breakout,add the 14 to it.....and then trade breaks down,we are back to Rs7 for reversal entry,etc.This Rs14 is only for the trade that comes along with the first bar even if the first trade comes many bars later.Other than that trade,it's all Rs7 all the way.

Thanks,
Amit

Amit, the first bar is first 5mts. 2nd,3rd etc bars are 30min. So the Rs14 room is for the first trade which will trigger anytime after 10am. But if the 2nd bar ie 10.30bar's high is more than first bar high but less than 14room then the new SL order for the longl is 2nd bar's high +14 vice versa for shorts.

 

[amitpethkar]

Amit, the first bar is first 5mts. 2nd,3rd etc bars are 30min. So the Rs14 room is for the first trade which will trigger anytime after 10am. But if the 2nd bar ie 10.30bar's high is more than first bar high but less than 14room then the new SL order for the longl is 2nd bar's high +14 vice versa for shorts.

Hi Uthuman,

I agree that we keep on adding/subtracting 14 to high/low of each 30 min bar till we are in. But look at the charts posted by Saint, some of his entries are at +/- 7 points and not 14.

Thanks,
Amit

 

[rkkarnani]

Thanks for explaining that ccmb. I agree that this system does not use bar by bar triggers. So we keep looking at 15/20 minutes charts and if we are not in the trade and there is clear pivot on 15/20 min then we place entry orders based on pivots. Let me know if I understood it clearly.

But then short taken at 4354 on 5th sept does not fit in the pivot rule.

I just reread the rules again and this is what I found. I hope this first bar in below para is first 30 min.

And another thing:We get a breakout,add the 14 to it.....and then trade breaks down,we are back to Rs7 for reversal entry,etc.This Rs14 is only for the trade that comes along with the first bar even if the first trade comes many bars later.Other than that trade,it's all Rs7 all the way.

Thanks,
Amit

Hi Amit, seems u have a valid query there!! I also await a reply to your above post!!!
I have understood that first trade is taken with a filter of 14 points only irrespective of the bar on which it is taken!!! If first bar is breached by say only 7 points by 2nd bar, we wait for the 2nd bars level plus 14 to be breached to be in a trade!!!
I am not clear, where do we take a reverse trade if the first move say on the upside peters out without triggering a trade!!...say :

10 am high is 4110, Low 4090
10.30 AM hi = 4118 Low 4095
11.00 AM high 4127 Low 4104
11.30 AM High 4120 Low 4098
12 Noon hi 4118 Low 4083

We do not get a trigger for Long in the first up move, where do we short!!!

 

[Smart_trade]

Hi Amit, seems u have a valid query there!! I also await a reply to your above post!!!
I have understood that first trade is taken with a filter of 14 points only irrespective of the bar on which it is taken!!! If first bar is breached by say only 7 points by 2nd bar, we wait for the 2nd bars level plus 14 to be breached to be in a trade!!!
I am not clear, where do we take a reverse trade if the first move say on the upside peters out without triggering a trade!!...say :

10 am high is 4110, Low 4090
10.30 AM hi = 4118 Low 4095
11.00 AM high 4127 Low 4104
11.30 AM High 4120 Low 4098
12 Noon hi 4118 Low 4083

We do not get a trigger for Long in the first up move, where do we short!!!

We short at 12=00 Noon bar at 4098-7 = 4091 as we are trading the second move now hence 7 instead of 14 and the stop and reverse at 4127+7=4134 as 4127 is a PH now

This is as per my understanding !!!

Smart_trade

 

[Smart_trade]

Hi Uthuman,

I agree that we keep on adding/subtracting 14 to high/low of each 30 min bar till we are in. But look at the charts posted by Saint, some of his entries are at +/- 7 points and not 14.

Thanks,
Amit

If it is a second move of the day then it is Adding/subtracting 7 and not 14 from high/low. Probably this is the reason for this confusion.


Smart_trade

 

[amitpethkar]

Hi Amit, seems u have a valid query there!! I also await a reply to your above post!!!
I have understood that first trade is taken with a filter of 14 points only irrespective of the bar on which it is taken!!! If first bar is breached by say only 7 points by 2nd bar, we wait for the 2nd bars level plus 14 to be breached to be in a trade!!!
I am not clear, where do we take a reverse trade if the first move say on the upside peters out without triggering a trade!!...say :

10 am high is 4110, Low 4090
10.30 AM hi = 4118 Low 4095
11.00 AM high 4127 Low 4104
11.30 AM High 4120 Low 4098
12 Noon hi 4118 Low 4083

We do not get a trigger for Long in the first up move, where do we short!!!

Logically SHORT at 4098 (11:30 bar low) - 7 = 4091 because upmove is not strong and we did not get in LONG trade due to filter. But then lets wait for the master to comment.

Thanks,
Amit

 

[amitpethkar]

Looks like SMart_Trade answered this query already.