Going with the Intraday Mini-Flow!!

[niftychance]

10:00 AM:H 4127 L 4093

10:15 AM:Buy triggers at 4141,stops at 4086

10:30 AM:Higher Highs and Lows....so far great going.Add 1 at 4170+5=4175

11:00 AM:One more higher high and low candle,but a mini tail.....a topping tail on the 15.....let us see if it breaks down....

11:30 AM:Nothing of the sort....neat trend move.....another higher high and low.We are now 4 candles HH-HL up,the 4 bar rule kicks in if no pivots found on the 15min charts.Nope....no pivots on the 15.Stops raised to the low of 2 bars back.viz 4110-7=4103

12:00 noon:Another HH-HL candle.....Any pivots on the 15?Nope.Raise stops to the low of 2 candles back.viz.4152-7=4145.

12:30 PM:First bearish candle on the 30.....move back to the 15.We have had 10 bull candles,and now price looking to rest a bit.

1:00 PM:Low of 4185....our stops remain where they are at 4145.Now what would have made us raise the stops and trigger a reversal short if it had hit?After that 12:45 bar on the 15,if price moved up and formed a lower pivot high and fell after that.......or......Price moved sideways a few candles and then broke down.We would have raised our stops and gone the other direction.Here,that did not happen.....a simple pullback,nowhere near threatening our stops.Turn to the 60 as well to confirm,2 strong bull candles after the first one,on good vols,followed by this bar which did not come anywhere near taking out the previous candle low on the 60,on lower vols...........Therefore,still looking bullish on the 15,30 and 60.So nothing to be done except Hold for now with stops at 4145.

1:30 PM:Another bullish candle,not yet to new highs though.

2:00 PM:A narrow range candle,a sideways move on the 15.

2:15 PM:Breakout from that sideways,ADD 2 triggers at 4229,as 30min pivots,and stops raised to 4183-7=4176

2:30 PM:HH-HL candle

3:00 PM:HH-HL candle....stops raised to 4195-7=4188

3:30 PM:Exit all at about 4240-ish.


Saint

 

[ratan jain]

Ratan,

Nope...not a pivot....but Ratan even if it is,want you to see how the trade would have been handled such that it wouldn't have matterred in the first place.

10:00 AM:H 4127 L 4093

10:15 AM:Buy triggers at 4141,stops at 4086

10:30 AM:Higher Highs and Lows....so far great going.Add 1 at 4170+5=4175

11:00 AM:One more higher high and low candle,but a mini tail.....a topping tail on the 15.....let us see if it breaks down....

11:30 AM:Nothing of the sort....neat trend move.....another higher high and low.We are now 4 candles HH-HL up,the 4 bar rule kicks in if no pivots found on the 15min charts.Nope....no pivots on the 15.Stops raised to the low of 2 bars back.viz 4110-7=4103

12:00 noon:Another HH-HL candle.....Any pivots on the 15?Nope.Raise stops to the low of 2 candles back.viz.4152-7=4145.

12:30 PM:First bearish candle on the 30.....move back to the 15.We have had 10 bull candles,and now price looking to rest a bit.

1:00 PM:Low of 4185....our stops remain where they are at 4145.Now what would have made us raise the stops and trigger a reversal short if it had hit?After that 12:45 bar on the 15,if price moved up and formed a lower pivot high and fell after that.......or......Price moved sideways a few candles and then broke down.We would have raised our stops and gone the other direction.Here,that did not happen.....a simple pullback,nowhere near threatening our stops.Turn to the 60 as well to confirm,2 strong bull candles after the first one,on good vols,followed by this bar which did not come anywhere near taking out the previous candle low on the 60,on lower vols...........Therefore,still looking bullish on the 15,30 and 60.So nothing to be done except Hold for now with stops at 4145.

1:30 PM:Another bullish candle,not yet to new highs though.

2:00 PM:A narrow range candle,a sideways move on the 15.

2:15 PM:Breakout from that sideways,ADD 2 triggers at 4229,as 30min pivots,and stops raised to 4183-7=4176

2:30 PM:HH-HL candle

3:00 PM:HH-HL candle....stops raised to 4195-7=4188

3:30 PM:Exit all at about 4240-ish.


Saint

Saint, I think I have some different data?

My data for 25th of June 2008 does not match your explanation, as the 10:am bar high low for me is

High-- 4172
Low --4097

Can you please clarify?

 

[novice1]

Hi Ratan,

You are far from dumb,my friend........your phrasing of the question itself removes al possibility of that.

Great question as always.

Bit of a Saturday Blues.......a bit lazy to put up a chart.But will guide you bar by bar and tell you what I am seeing and what is simultaneously going through my mind.

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.

Hope it's clearer now,Ratan......get back to me if something needs more clarity.

Saint

Wow....I am saving this as my Bible/Gita....only Saint can be patient enough to teach us in such a simple way....Long live your tribe. God Bless.

 

[Smart_trade]

Going through some of the posts in this thread last 2-3 days,I get a feeling that some of our friends are using the posts as tip giving service and even trading with real money on these levels.This is against the spirit of this forum and this thread in particular. Saint is teaching us so that we learn how to trade ourselves.

I suggest that we study the theory given on page 77,then chart examples like the ones posted by Saint above ( 25 June and 4 th June),understand the thought process which is behind the trades and not follow levels posted here blindly as it not only defeats the purpose of this thread but also could be quite risky. Enough material is available here to remove all our difficulties and making our thinking clear. So friends,let us not go for shortcuts please,it will not do any good to any of us !!!

Hope people will take it in right spirit !!!


Best Wishes, Trade well !!!

Smart_trade

 

[novice1]

Second that. Wholly appreciate your efforts, thank you.

MJ-

MJ,

Did you notice that the class as promised by you for me and Prabhajeet has been taken over by Saint ?

More insights and lot of questions answered.

Thanks to Ratan as well.

Of course no words can express our gratitude to our great master Saint

 

[novice1]

Ratan,

Yes,a moving filter,we want that first move to be strong enough to take out that Rs14 in one clean sweep........not that this protects us always.But some unnecessary trades can be done away with.

BAR 1:H 4223 L 4185
BAR 2:H4233 L 4200......................>No Trades
BAR 3:H 4242 L 4221......................>No Trades
BAR 4:H 4250 L 4211.......................>Short at 4221-7=4214

Saint

Still a novice , noob

Short should be at 4221-14 no ? Why filter of 7 ? Only reversal filter is Rs. 7 right ?

Quoting Saint from Page 77

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.

Regards

 

[Smart_trade]

Still a novice , noob

Short should be at 4221-14 no ? Why filter of 7 ? Only reversal filter is Rs. 7 right ?

Quoting Saint from Page 77


Regards

Hello novice1,

Here the first move is an upmove (which did not trigger a trade)so moving filter of 14.Second move of the day is a downmove and from second move onwards it is 7 all the way and not 14 ( 14 only for first move). The short triggred in second move hence 4221-7.

Smart_trade

 

[novice1]

Hello novice1,

Here the first move is an upmove (which did not trigger a trade)so moving filter of 14.Second move of the day is a downmove and from second move onwards it is 7 all the way and not 14 ( 14 only for first move). The short triggred in second move hence 4221-7.

Smart_trade

Thanks, ST.

But it is not a reversal right ? Filter of 7 is for the reversals only.

Pardon my insistence. Trying to understand

 

[Smart_trade]

Thanks, ST.

But it is not a reversal right ? Filter of 7 is for the reversals only.

Pardon my insistence. Trying to understand

Questions most welcome novice1,

I consider it is a reversal of the first move though not the reversal of the trade.

Saint has clarified this point himself. Let me search and quote the post No.if I find it quickly.

Smart_trade

 

[VJAY]

*Once that first bar is formed,we are basically looking to buy Rs14 over the high of that bar.and short Rs14 below the low of that bar.Once the entry is triggerred,presuming a long has been triggerred,stop loss is Rs 7 below the low of that bar.But only on trigger.

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.


Originally Posted by Smart_trade
MOVING FILTER:For the NF,put in a moving filter at Rs 14 on the 30min charts.

Not clear Saint, Does it mean that we call a bar a breakout bar(5 min) if the high (low) of that bar is greater(lower) than high (low) of the preceeding bar plus (minus)Rs 14.Once such bar is formed(considering it is a bullish breakout) we add another Rs 14 to the high of the breakout bar and that is our entry point with low of the bar -Rs 7 as SL ?
(Reverse for Bearish breakout bar )
Hi SmartT,

BAR 1--High of 4325,Low of 4275..........we want the next bar to break past 4325+14=4339.Or go down below 4275-14=4261

BAR 2---High of 4335,Low of 4295.........we are still not in.We want the next bar to break past 4335+14=4349.

BAR 3----High of 4346,Low of 4322....still not in.We want the next bar to break out of 4346+14=4360.Or the low of 4322-7=4315 to get taken out.

BAR 4----High of 4355,Low of 4312......we are now in short.

The Rs14 moving filter is to extract a "Either we are getting that big move,or we are not interested" out of that opening bar.

Also,if you noticed that the short is at Rs7 ..........because it is Move no 2 of the day.We got out of trading Move no 1,from Move no 2 onwards,it is Reversals at Rs7 and adds at Rs5.

Only that first move do we put in that Rs14 and move it bar by bar daring it to take that price out...........rest of the day,no moving around the values.

*Let me try to explain as per my understanding VPS,

today 1st 5 min bar had a high of 4172 and low of 4157. After we get these levels we come to 30 min timeframe now.So in next 25 min the NF has to break either 4172+14 =4186 or below 4157-14 = 4143. Neither of the two levels were broken in first 30 min bar.So no entry.For first 30 min bar had H=4172,L=4149

Next 30 min bar has to break either 4172+ 14 =4186 or below 4149-14=4135.No level was broken This bar high =4184,L=4162 so no entry.

Next 30 min bar has to break 4184+14=4198 or below 4162-14 = 4148,none of the levels broken in this bar. H=4192,L=4178 so no trade!!!

Next bar has to break 4192+14=4206 or below 4178-14 = 4164. And it broke 4206 in this bar hence our LONG entry triggred.STOPLOSS 4191-7=4184
for this bar H=4208 L=4191

Other trade short at 4182-7=4175

Hi ST,
I dont have post no but have copy of saint sir,s replys to your querry.

Regards VJAY