Going with the Intraday Mini-Flow!!

[TFL]

Haribird.​

 

[orderflow13]

ST,

Yes on the above.......at that time indicated by you,we got a pivot breakdown WRB.In this case,there was follow through that negated itself forming that tail.Now the easy part is that we got ourselves a reversal bar on the 30min chart.The tough part was:a.A reversal candle/bar on the 30 is not enough for us to reverse.We need that on the 60 before we start licking our lips.So,in this case,we don't have that confirmation on the 60 or any help from any timeframe.Therefore bring SAR down to the high of the previous bar on the 60 and wait.

Is this a failed breakdown pattern?Yes,it is.......if the body of that reversal candle had closed more than half of that WRB,we would be looking to go long over the high of that candle.In this case,that scenario didn't take place.Closing as it did,it gives us no confidence to reverse and go long there.....and so we wait till we got a clearer signal from the 60min charts

Saint

By alex_laxya

Saint sir,
I thought we only going long after the break out of previous wrb plus room, now bit confuse, that bar i mentioned was closed above 50 % of prev wrb,but we didnt go long, was that b'cuz of that bar wasn't any reversal bar ? are we very specific here that bar must be hammer or something like that to confirm go long ?
sorry for bringing it up again,bit slow learner.
p.s. there is some problem with date n time setting in my soft ware's data feed, above chart is of 27 oct 08

 

[vpsarathy]

Why without butter VPS ? You will earn your bread,butter and also cake with nice icing on it ...

Best wishes,VPS there is no evidence to prove that age has to do something with trading sussess !!! Think that you are trading not because of no option but trading because it is the best option !!!

Smart_trade

ST,

Thanks for such nice swet words of encouragement and comfort. I am sure that with people like you around one will get tons of cakes for sure.God Bless You.
vps

 

[Smart_trade]

By alex_laxya

Saint sir,
I thought we only going long after the break out of previous wrb plus room, now bit confuse, that bar i mentioned was closed above 50 % of prev wrb,but we didnt go long, was that b'cuz of that bar wasn't any reversal bar ? are we very specific here that bar must be hammer or something like that to confirm go long ?
sorry for bringing it up again,bit slow learner.
p.s. there is some problem with date n time setting in my soft ware's data feed, above chart is of 27 oct 08

Very good question Alex, Let me attempt to answer as per my understanding and we all wait for Saint's clarification.

Pattern on left ... market falling with vigor, 3 WRB black candles in a row.No indication of any brakes applied to the downfall,then we have a bullish piercing candle which closed above 50% of the last previous black WRB we watch carefully as a case of likely V shape reversal and it must negate the last black WRB for us to give confidence to reverse.Also see the volume on piercing candle is less than vol on preceeding WRB.

Now Pattern on right. There is a clear indication that the brakes are applied to downfall ( as evident by piercing candle mentioned above,then a PL formed at the low of the black WRB,market going sideways for next 3 candles on 30 min,) and we have a PL break indicating further downfall ,but here if instead of that little hammer we had got a strong bullish piercing candle after the breakdown bar and closing above 50 % of the breakdown bar then we would have got enough confidence to have reversed to short.See the volumes on the hammer are more than vol on breakdown bar.Now here if we had got a bullish piercing,then a very strong case for reversal.

I confess that it would be very difficult for me to read the patterns as above and act on it while the market is trading. I am learning this as I feel that if we understand this WRB and failed breakout stuff,it will give us a big edge in our trading.

Anxious to read Saint's explanation.

Smart_trade

 

[Saint]

Very good question Alex, Let me attempt to answer as per my understanding and we all wait for Saint's clarification.

Pattern on left ... market falling with vigor, 3 WRB black candles in a row.No indication of any brakes applied to the downfall,then we have a bullish piercing candle which closed above 50% of the last previous black WRB we watch carefully as a case of likely V shape reversal and it must negate the last black WRB for us to give confidence to reverse.Also see the volume on piercing candle is less than vol on preceeding WRB.

Now Pattern on right. There is a clear indication that the brakes are applied to downfall ( as evident by piercing candle mentioned above,then a PL formed at the low of the black WRB,market going sideways for next 3 candles on 30 min,) and we have a PL break indicating further downfall ,but here if instead of that little hammer we had got a strong bullish piercing candle after the breakdown bar and closing above 50 % of the breakdown bar then we would have got enough confidence to have reversed to short.See the volumes on the hammer are more than vol on breakdown bar.Now here if we had got a bullish piercing,then a very strong case for reversal.

I confess that it would be very difficult for me to read the patterns as above and act on it while the market is trading. I am learning this as I feel that if we understand this WRB and failed breakout stuff,it will give us a big edge in our trading.

Anxious to read Saint's explanation.

Smart_trade

Yes ST.....nothing to add to the above.Great going!

Saint

 

[saturdaykid2001]

Dear Friends,

Today is F&O expiry day. Do we trade October Futures or November Futures for today?

Thanks in Advance,

SK

 

[kapil123]

Dear Friends,

Today is F&O expiry day. Do we trade October Futures or November Futures for today?

Thanks in Advance,

SK

As we are trading Intraday, we trade in the Near Month Future only i.e. Oct Contract for today.

 

[praveen taneja]

On the occsaion of new year samvat 2065 wish you a very happy new year and one of the best n succesful trading year. I pray to god that he fills your home with lots of food n blessings on the auspicious day of annakoot.god bless us all

 

[myvineet]

High =2760
low =2708

long above 2760+14=2774
short below 2708-14=2694

 

[lvgandhi]

High 2740 Low 2707 Long 2754 Short 2693 Risk 54