Going with the Intraday Mini-Flow!!

[Smart_trade]

Dear Smart_Trade

For identifying 30 m pivots H/L, are we looking only at current day's 30 min charts or is it required to consider 30 min charts of previous days also.
If time permits please type a few words on pivots. (Sorry if others get bored of repetition)

Regards and Thanks in advance

Hello sd_singal,

Thanks for your PM, your post was burried in flurry of other long posts and it escaped my attention.Sorry for that my friend.

We keep 30 min chart on continuous basis so a most recent pivot high or low
is to be considered even if it is formed the earlier day. But we consider only the most recent ones and 2nd or 3rd pivot points formed before the most recent ones are of no significance for our system here (though these will be significant for techniques such as support/resistance,trendline analisis etc which we dont use in this thread.)

On pivots,you have to see these points where the upmove/down move ends so pivot high is a bar high which has preceeding and succeeding bar (sometimes series of bars) with lower high and preferably lower lows. Exactly opposite for pivot lows. Pivots are sometimes also lower and higher boundries of sideways movement on the chart.

I suggest that go a few pages back and I and some other friends have posted charts with pivot high and lows marked.These may help you in understanding pivots better.

Best Wishes,Trade well !!!

Smart_trade

 

[alokdaga]

We follow the 30min charts.
Adds at Pivot break on 30min charts.

Exit at EOD and in parts if you wish.
And ofcourse take something off the table once risk=current market price (in profits)


That is preference ofcourse.
MJ-

Truly like a seasoned veteran !!! Real simple and effective presentation.

 

[Smart_trade]

sum doubts.
(1) adds at pivot break on 30....did not read abt it anywhere or saint has specified it & i missed it.it was supposed to be at wrb's.
filter of 5 is reqd or not.
do u add at 20 min pivot breaks if u dont get pivots on 30 min

(2) at SAR point from short to long...initial stoploss at SAR is below the previous pivot low on 30min or 20min???

Hello vvvv,

Adds at break of pivots is a heart of all systems by Saint.Yes WRB is another place to add.Filter of 5 is added in PH or subtracted from PL, I think after waiting for pivot on 30 and if you dont get a clear pivot on 30,we certainly can add on pivot break on 20 as 20 is meant for that.

In point no 2,if you have a PL on 30 it is always preffered.If not,come to 20 min PL but take care not to keep it too close and dont prefer 20 PL to 30 PL just because it gives smaller stoploss, it may give you lot of whipsaws.

Best Wishes,

Smart_trade

 

[Saint]

Saint,

The point understood. But if the t\4th bar were bearish, should we wait for the 4th bar to complete or not. I have been asking this question for the last 2 days. No answer from you at all.
vps

And VP,I have been telling you this for a really long time,my friend.

You always wait for that particular bar to complete ...... if we didn't,we would not know that the bar closed bearish,we would not know what the exact highs and lows are.

We ALWAYS wait for a bar to complete before a decision has to be made.

Saint

 

[Saint]

Hello vvvv,

Adds at break of pivots is a heart of all systems by Saint.Yes WRB is another place to add.Filter of 5 is added in PH or subtracted from PL, I think after waiting for pivot on 30 and if you dont get a clear pivot on 30,we certainly can add on pivot break on 20 as 20 is meant for that.

In point no 2,if you have a PL on 30 it is always preffered.If not,come to 20 min PL but take care not to keep it too close and dont prefer 20 PL to 30 PL just because it gives smaller stoploss, it may give you lot of whipsaws.

Best Wishes,

Smart_trade

Nothing more to add to the above...Thanx Smart Trade.

Saint

 

[Saint]

Hello sd_singal,

Thanks for your PM, your post was burried in flurry of other long posts and it escaped my attention.Sorry for that my friend.

We keep 30 min chart on continuous basis so a most recent pivot high or low
is to be considered even if it is formed the earlier day. But we consider only the most recent ones and 2nd or 3rd pivot points formed before the most recent ones are of no significance for our system here (though these will be significant for techniques such as support/resistance,trendline analisis etc which we dont use in this thread.)

On pivots,you have to see these points where the upmove/down move ends so pivot high is a bar high which has preceeding and succeeding bar (sometimes series of bars) with lower high and preferably lower lows. Exactly opposite for pivot lows. Pivots are sometimes also lower and higher boundries of sideways movement on the chart.

I suggest that go a few pages back and I and some other friends have posted charts with pivot high and lows marked.These may help you in understanding pivots better.

Best Wishes,Trade well !!!

Smart_trade

Excellent,my friend.

Saint

 

[Saint]

Dear vps,

As I understand, completion of 4 Bearish Bars is essential to confirm DownTrend. Only on confirmation of the trend, SL is moved High of Bar2 - 7.

BTW, you have said in your earlier posts, that you will be trading live from tomorrow. Good Luck. All the Best

Cheers

Not really to confirm a downtrend......just so that we know we have a clear cut move in that direction to even envisage the thought of trailing the stops down.

And a bit of typo there......yep,then we can move our SLs to the high of Bar 2+Rs7.

Saint

 

[Prabhjeet]

Hello everyone, gap down opening expected today I suppose

 

[novice1]

Hello everyone, gap down opening expected today I suppose

What is the strategy for gap down opening. Do we still go by the 5 min chart ?

 

[myvineet]

What is the strategy for gap down opening. Do we still go by the 5 min chart ?

we always go by 5 min rule