Re: Saint's Intraday Miniflow - live discussion
I will look very silly for asking this since no one else has.Why go long on the 11.00 bar? It is not a pivot high, its only significance to me is that it has made the low of the day.Sorry if this is very basic.
I'll give it a shot. I hope to learn myself along with tony.
Answer: Its called move 2. At close of 11.00 bar we concluded that move 1 was down. So, we want to keep our minds open to entering in its reverse direction, call it move 2.
A good point you made that its not a pivot, but still?
If its pivot then its best, but if it aint then we dont sit around for it. Attack, but with appropriate filters.
Some of us are jittery entering in move 2 using small filters. ST suggested its alright to use moving filter in todays case since the 11.30 bar was a pretty weak one, which indicates that bulls are weak. Hence, larger filter.
Keep the questions coming my friend. Always glad to contribute just as one has received. Needless to say, you will have to wait for EOD for better answers.
Amit