Going with the Intraday Mini-Flow!!

[Saint]

Saint , the examples you gave in reply to my doubt are they all 5 min bars ? if so when do we shift to 30 min bar ? After first 5 min X 6 bars are complete and the pivots formed on 30 ? Till then all entry and exit levels on 5 min bars?

Nope,......first one's the 5min bar as always.Next are all 30min bars.

Saint

 

[milkyblack]

MB,

The 60min chart is just for an overall look........having a pivot that is about to break on the 30 and a topping tail on the 60 adds conviction to your reversal.

But we are not trading it.......we are getting our levels out of the 30min charts.

The 20 is to visualise it more clearly.....the 60 is to have a broader outlook.....the rest is all 30.

Saint

Thanks Saint,

Understood it now!

Regards

 

[milkyblack]

MB,

As always,once in a trade,we are looking only at the stops..........that one not a clear cut pivot.No harm in getting out of your shorts there as it is the last bar.......but don't enter long.

Saint

Thanks Saint... for the clarification...

Pls check Aug 6th chart... when we entered the short... on break of low ... but the SL of 4607 was taken off... even with room... as it made a high of 4624...

Kindly explain it at your convenience!

Thanks again!

Regards

 

[VJAY]

What I understand from the system is for todays trade...

Long 4206 SL 4180 (Initial) (Risk 26 points)
Trailed to 4175
SL got hit 4175
Reverted to shorts at 4175 with Initial SL of 4217 (Risk 42 points)

Exited Shorts on break of pivot on 20/30 4173+7 =4180
Entered long 4180 exited at close 4190

1st long trade loss of 31 pts
2nd short trade loss of 5 points
3rd trade profit of 10 points

Total -26 points...

Please clarify if I am right!
Thanks

Regards

Dear MB,
Can you clear it with todays chart?If so it is very usefull us to understans the new method clearly.Please........

Regards
VJAY

 

[lvgandhi]

Dear Saint,
I was analysing your chart for first of Aug to get clarity of method to myself. In my chart
1 bar high 4282 low 4265
2 bar high 4291 low 4253
3 bar high 4276.15 low 4258
4 bar high 4305.7 low 4260.1

You have mentioned entry at 4298.
As per my understanding as you have explained bar by bar to Smart-trade, dif in 1 & 2 is only 9 and 2 & 3 is -ve and 3 & 4 is 29. Is it not entry should be above 4306+14?
Am I missing something?

 

[niftychance]

Hello

Sir said we maybe using candlestick reversal patterns, my 2 cents on that...

I faced 3 problems, trying to learn candlestick patterns. . .

1. Same patterns have multiple names (remembering the funny names in itself can be a big problem
   
   
2. The same pattern is classified as bullish or bearish by different sites/books and
   
   
3. The biggest problem I had trying to learn / understand was that, its not about the pattern, its about the price action that the pattern represents...
   It took lots of time to sink in, that I do not have to focus on the shapes or the right name but what is the price doing to get/or print this pattern. . .

Lets look at what the price is doing in the above illustration, at the start of this 30 minutes price opens near the low and keeps moving up for about 15 minutes the first 15 minute candle closes near its high. The next 15 minute candle opens at same level but now the price cannot sustain the upward momentum and reverses to close near the lows.

The same is getting printed as a spinning top on 30 minutes . . .

The names I have used maybe wrong, I never got to learn them . . .

There are lots of online resources to learn these patterns, not the best but just an example

1. bullish reversals

2. bearish reversals

Thanks

PS: Had made this post earlier, it landed up middle of few posts by sir, so reposting to shift it here...

 

[lvgandhi]

Following this,today would have been :Entry at 4206,Reverse to short at 4175 and cover at close at 4190......-31 pts and -15pts

Saint

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.

Saint

In Today's case,
BAR 1--High of 4172,Low of 4157..........we want the next bar to break past 4172+14=4186.Or go down below 4157-14=4143

BAR 2---High of 4180,Low of 4149.........we are still not in.We want the next bar to break past 4180+14=4194.

BAR 3----High of 4187,Low of 4165....still not in.We want the next bar to break out of 4187+14=4201.Or the low of 4165-7=4158 to get taken out.

BAR 4----High of 4192,Low of 4178......we are still not in.We want the next bar to break past 4192+14=4206.
Bar 5----high is 4214.25
we should go long with +14 of this bar.
You have said long on 4214.25. Will you please explain?

 

[VJAY]

Sir,
Entry @ 4206 ok that time where is our s/l.4175?from where it come.Please explain.If explain the method with todays chart its usefull to understand better.

Thanks for giving another system to us.
Regards
VJAY

Originally Posted by Saint
Following this,today would have been :Entry at 4206,Reverse to short at 4175 and cover at close at 4190......-31 pts and -15pts

Saint

 

[VJAY]

In Today's case,
BAR 1--High of 4172,Low of 4157..........we want the next bar to break past 4172+14=4186.Or go down below 4157-14=4143

BAR 2---High of 4180,Low of 4149.........we are still not in.We want the next bar to break past 4180+14=4194.

BAR 3----High of 4187,Low of 4165....still not in.We want the next bar to break out of 4187+14=4201.Or the low of 4165-7=4158 to get taken out.

BAR 4----High of 4192,Low of 4178......we are still not in.We want the next bar to break past 4192+14=4206.
Bar 5----high is 4206
we should go long with +14 of this bar.
You have said long on 4206. Will you please explain?

Sir,
Bar 5 ----high is 4214.25 so long triggered.

Regards
VJAY

 

[niftychance]

In Today's case,
BAR 1--High of 4172,Low of 4157..........we want the next bar to break past 4172+14=4186.Or go down below 4157-14=4143

BAR 2---High of 4180,Low of 4149.........we are still not in.We want the next bar to break past 4180+14=4194.

BAR 3----High of 4187,Low of 4165....still not in.We want the next bar to break out of 4187+14=4201.Or the low of 4165-7=4158 to get taken out.

BAR 4----High of 4192,Low of 4178......we are still not in.We want the next bar to break past 4192+14=4206.
Bar 5----high is 4206
we should go long with +14 of this bar.
You have said long on 4206. Will you please explain?

Following this,today would have been :Entry at 4206,Reverse to short at 4175 and cover at close at 4190......-31 pts and -15pts

Saint

Hello

See, if this helps...

Thanks