Going with the Intraday Mini-Flow!!

[niftychance]

Can someone please put up the relevant chart (June 4)!!!! This detailed reply by Saint is too important to let go without fully studying. Thanks
Beethoven

10:00 AM:Bar 1 has formed......H 4713,L 4681

10:15 AM:Previous bar's high was taken out.....new High of 4716.80.But our filter keeps us out of the trade.Note:Although not that clear on the 30,more evident on the 15/20 is that price made an attempt at going to new highs and failed at breaking past our filter.This was Move 1.

10:45 AM:Move 2 happens......the lows are taken out.4681-7=4674 our entry price.Stop loss at 4717 + 7=4724

11:00 AM:All going to plan.

11:30 AM:?Bottoming Tails ......Switch over to 15min charts,not for any action,just to clearly see what is happening.Okay,we have a tiny bullish candle.......nothing to write home about.Let's see how the next candle on the 30 behaves.

12:00 noon:Another down move,another bearish candle on the 30.........now that mini bull candle on the 15 assumes great significance.I have me a small pivot.Now,guard is up,all attention on how the next candle behaves.Using the 4 bar rule,my stop is at 4686+7=4693.But that comes in if we don't have any pivots at all,even on the 15 .......here we have a pivot high of 4669.Reversal stands at 4669+7=4676

12:15 PM:The pivot highs are taken out......we are now Long.Note that we did not add to our previous position.Reason is did not get a pivot on the 15 or 30,no wide range bar as well.Anyway,we are long now on our intial position.

12:30 PM:The previous candle was a high volume wide range bar,now excited to add to positions.ADD 1 over the prev candle's high on the 15.viz 4687 +5=4692

12:45 PM:We had a multiple bar move down on the 30 to bring our attention to the 15 for greater clarity.Now we have this great big wide range candle on the 30........to observe what is happening within that candle,we are back at looking at the 15min charts.So we have a mini bearish candle......no problem,2 big candles on high volume on the 15,one big candle on the 30,well,price taking a mini-break....nothing to worry.

1:00 PM:Hmm.....another minor bullish candle on the 15...now we have ourselves a pivot on the 15 again,and a hanging man on the 30.....as said before,it's a coming together of all time frames.When there is conflict between the time frames,take the 30 as that is the principal timeframe.When all in unison,react accordingly.Stop loss to pivot low on the 15 and the low of the hanging man on the 30........4677-7=4670

1:30 PM:Short reversal triggerred......4670

1:45 PM:ADD 1 triggerred at 4640(previous pivot low)-5=4635

3:30pm:Exit all by close......roughly 4580.

Saint

 

[ratan jain]

Saint,

Do u have ANY idea how many small questions of mine u have answered in your reply?
In fact, I have just realised that I was wrong in some of my assumptions,a nd would have gone against the rules had you not clarified today.

Thank you so very much from the bottom of my heart...

 

[gunavadhi]

niftychance your link not working.

 

[gunavadhi]

works ok.thank you.sorry for disturbing yo.

 

[Smart_trade]

Thanks NC,you posted charts exactly the way we all wanted.Thanks for your efforts!!!

Smart_trade

 

[musicjunkie]

Thanks NC,you posted charts exactly the way we all wanted.Thanks for your efforts!!!

Smart_trade

Second that. Wholly appreciate your efforts, thank you.

MJ-

 

[Smart_trade]

Great feast on holidays,Saints explanation and NC's charts.Great case study.

Understood all except 12 Noon PH on 15 at 4669.Saint are you seeing this as pivot because of 3 bars on 15 has almost same highs? otherwise it does not fit into LH,HH,LH pattern of the pivot. I would have surely missed this reversal had i been trading real time that day !!!

Smart_trade

 

[beethoven]

June 4 trades explanation by Saint. Very difficult to visualize the reversals in real time especially the second reversal. Guess lots of hand holding is required by Saint to guide us thru mini-flow trades till we see the pivots with ease and act confidently on our own. 30% of the times when the market is sideways and another 14% of time when it reverses from first 5 minutes bar our dependence on 15 min chart will be much more than 30 min chart. But the skill can be acquired and trades can be put with confidence and without stress in time. Thankyou Saint
Beethoven

 

[ratan jain]

Saint, you have clarified everything!
Just 1 small question..... suppose the 14 filter, is not triggered by 1 rs..... do we again give 14 rs to next bar?
Like on 23rd june 08 11 am bar

And another small question.. please...

On the 25th of june, is the 12:45 pm bar on 15 min a pivot? it looks small, but technically is a pivot. If we consider it, it takes us out of the long trade, and takes a short, and then reverses us to a long after a loss

 

[Saint]

Saint,

Do u have ANY idea how many small questions of mine u have answered in your reply?
In fact, I have just realised that I was wrong in some of my assumptions,a nd would have gone against the rules had you not clarified today.

Thank you so very much from the bottom of my heart...

Most welcome,my friend......

Saint