Going with the Intraday Mini-Flow!!

[jstraju]

Thanks Beethoven for bringing up your doubts,even I took 4 trade yesterday,
appreciate Sunil,Smarttrade's effort to clarify them,
Probably It is not just about the current day, we may need to look at the wider picture Todays context in wider scheme of things 2 or 3 days,

Raju.

 

[beethoven]

NC

I reversed when the entire WRB 5 got taken out. ST's trades were fantastic yesterday. No doubt on that.

Bee

 

[beethoven]

I am quite surprised to read this remark, Bee..
I have been making sarcastic remarks, in general, to those who like to plot & follow 15min pivot bars - if they know me, then they will be more surprised on reading your comment...

Sunil,

My rules for posting on a public forum are very strict. I never make sarcastic remarks. Sorry if I sounded like that. Your explanation in that post had lots of reference to 15 min chart, that is why I wondered if you are giving more importance to 15 min chart than 30 min. If not then it is ok, my friend.

Happy trading

Bee

 

[beethoven]

Hi Bee,

A very valid question.When the market was taking a rally after bar 5 yesterday, I had debated this point in my mind.This trade is not an afterthought.I had discussed this with some of my friends who follow this system and my reasons for not reversing above the high of bar 5 yesterday were as under :

Look at bar 6,a tiny white candle,bar 7 also nothing worth writing home about,observe the volumes,they are less than average. Bar 8 was a strong candly but market to me took 3 candles of 30 min to break bar 5 WRB top.This is a limping action. This is more of "meak excuse of a reversal " as Saint puts it rather than a strong reversal. I would have reversed if market would have had a resting bar immediately after bar 5 and this bar had closed above 50 % of bar 5 and the subsequently another strong bar OR a immediate reversal bar after bar 5 which would have taken out bar 5 high in a strong thrust. But this limping market action and volumes made me keep my SAR at high of bar 4 on 2 bar rule and 60 min bar high rule. But I certainly had to do thinking and decision making here when market was going on realtime.

Best Wishes,Trade Well .....

Smart_trade

Yes ST

Your observations are in sync with mine but you see it was bar 9 which blasted and took out my SAR at bar 5+room.

You see reversal was complete there was no doubt on that.

I think we are missing out on some diagnostic tool, parameter or vision to really see this - otherwise I will put this as a trade which went in wrong direction - part of trading statistical failures.

Why I am saying this is that this situation we will be facing virtually daily on the mini flow. And I will be taking such trades often - see no reason not to -- entire WRB was negated by 3 bars rising and 4th bar blasting thru all supported by 60 min and of course 20 min ( I personally see 20 min chart in miniflow).

Saints insight are required here.

Bee

 

[TFL]

Good Morning my friends and seniors,

A lot of healthy discussion out here from yesterday.
My job for grabbing them to library will be more interesting.
Those who are willing to participate in Scanning Imtraday Mini-Flow thread can post their consent here in the thread http://www.traderji.com/day-trading-stocks/25102-project-scanning-intrday-mini-flow-thread.html

Thank you.
Hari.

 

[lvgandhi]

High 2713 Low 2685 Long 2727 Short 2671 Risk 49

 

[myvineet]

High =2713
low= 2685

long above 2713+14=2727
short below 2685-14=2671

 

[Revati]

problem with data.can anybody pls post minifty levels

 

[Smart_trade]

problem with data.can anybody pls post minifty levels

Long above 2727 revati,triggered

 

[gsri]

Long in NF at 2727