Going with the Intraday Mini-Flow!!
- Thread starter Saint
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Re: Intraday Miniflow Trades for Today: Saint's Method
Miniflow Trades for today: 3 Dec 08
1. First trade was a SHORT generated by the breaking of opening bar low. Stops were at the opening bar highs.
2. Next two bars on 30min tf were inside bars. Remember, the 10:30 bar was NOT a WRB...otherwise we would have lowered our stops appropriately. But then...we were on a lookout for a reversal point. Got a clean pivot on 15 min charts(11:45 bar)...but since the containing 60min bar was also an inside bar....we prefer to go by the highs of 60min bar of 11am...just to get a more clearer signal of markets intention.
Hence..LONG at 11am high plus filter...keeping the stops at lows of 11am bar.
3. Mkts go sideways again....forming a higher pivot low at the 2pm bar. That pivot gets cracked by the 3pm bar and we go SHORT again..keeping stops at highs of 12:30 bar...finally covering the trade at a loss around close of day.
A choppy day today, getting us a loss in all the trades taken. But then...we come back stronger tomorrow.
Best of luck for tomorrow,
Rakesh
Miniflow Trades for today: 3 Dec 08
1. First trade was a SHORT generated by the breaking of opening bar low. Stops were at the opening bar highs.
2. Next two bars on 30min tf were inside bars. Remember, the 10:30 bar was NOT a WRB...otherwise we would have lowered our stops appropriately. But then...we were on a lookout for a reversal point. Got a clean pivot on 15 min charts(11:45 bar)...but since the containing 60min bar was also an inside bar....we prefer to go by the highs of 60min bar of 11am...just to get a more clearer signal of markets intention.
Hence..LONG at 11am high plus filter...keeping the stops at lows of 11am bar.
3. Mkts go sideways again....forming a higher pivot low at the 2pm bar. That pivot gets cracked by the 3pm bar and we go SHORT again..keeping stops at highs of 12:30 bar...finally covering the trade at a loss around close of day.
A choppy day today, getting us a loss in all the trades taken. But then...we come back stronger tomorrow.
Best of luck for tomorrow,
Rakesh
Re: Intraday Miniflow Trades for Today: Saint's Method
Rakesh
Though senior traders like ST and you are in agreement, I can only put in my views feebly
.
You have yourself said 10:30 bar is not a WRB, so reversal or breaking of that should not be taken as SAR point irrespective of the fact all 3 TF's agree. I made that mistake once and Saint clarified. ST was also involved in that discussion.
In these days of violent sideways movement we have to be careful. The SAR would still be at days high. Maybe an increase in filters is also an area to be considered.
Bee
Rakesh
Though senior traders like ST and you are in agreement, I can only put in my views feebly
.You have yourself said 10:30 bar is not a WRB, so reversal or breaking of that should not be taken as SAR point irrespective of the fact all 3 TF's agree. I made that mistake once and Saint clarified. ST was also involved in that discussion.
In these days of violent sideways movement we have to be careful. The SAR would still be at days high. Maybe an increase in filters is also an area to be considered.
Bee
Re: Intraday Miniflow Trades for Today: Saint's Method
Hello Bee , my friend, you are most welcome to put forward your point most strongly even if we others are in agreement in a contrary point.Learning is all about disagreeing,asking questions ,getting convinced and moving ahead togather.And if we are commiting some mistake,we will be too happy to accept it and rectify it ,so no issues on that.Feel free to express your opinion.
Now coming to the point,I am afraid you got the reversal Rakesh is talking about wrong.10:30 bar on 30 min is not a WRB and Rakesh is not reversing above the high of this bar.He is reversing above 11:00 bar on 60 min as we in absence of 15 min pivot,30 min pivot,WRB reversal we always keep our SAR at preceeding 60 min bar. The preceeding 60 min bar at 12:00 was an inside bar and hence Rakesh preferred to keep SAR at high of 11:00 bar 0n 60 min.
I think the confusion is because 11:00 bar high on 60 min and 10:30 bar high on 30 min are same level. But let us get the logic right.We are not reversing on high of 10:30 bar on 30 but reversing at 11:00 bar high on 60 min.In 30 min chart,it appears that we are reversing above 10:30 bar on 30 min,because 11:00 bar on 60 min made the bar high between 10 and 10:30
Good that you brought this point forward,Hope the above clarification will clear the confusion,Bee !!!
Best Wishes, Trade well ...
Smart_trade
Rakesh
Though senior traders like ST and you are in agreement, I can only put in my views feebly.
You have yourself said 10:30 bar is not a WRB, so reversal or breaking of that should not be taken as SAR point irrespective of the fact all 3 TF's agree. I made that mistake once and Saint clarified. ST was also involved in that discussion.
In these days of violent sideways movement we have to be careful. The SAR would still be at days high. Maybe an increase in filters is also an area to be considered.
Bee
Though senior traders like ST and you are in agreement, I can only put in my views feebly
.You have yourself said 10:30 bar is not a WRB, so reversal or breaking of that should not be taken as SAR point irrespective of the fact all 3 TF's agree. I made that mistake once and Saint clarified. ST was also involved in that discussion.
In these days of violent sideways movement we have to be careful. The SAR would still be at days high. Maybe an increase in filters is also an area to be considered.
Bee
Now coming to the point,I am afraid you got the reversal Rakesh is talking about wrong.10:30 bar on 30 min is not a WRB and Rakesh is not reversing above the high of this bar.He is reversing above 11:00 bar on 60 min as we in absence of 15 min pivot,30 min pivot,WRB reversal we always keep our SAR at preceeding 60 min bar. The preceeding 60 min bar at 12:00 was an inside bar and hence Rakesh preferred to keep SAR at high of 11:00 bar 0n 60 min.
I think the confusion is because 11:00 bar high on 60 min and 10:30 bar high on 30 min are same level. But let us get the logic right.We are not reversing on high of 10:30 bar on 30 but reversing at 11:00 bar high on 60 min.In 30 min chart,it appears that we are reversing above 10:30 bar on 30 min,because 11:00 bar on 60 min made the bar high between 10 and 10:30
Good that you brought this point forward,Hope the above clarification will clear the confusion,Bee !!!
Best Wishes, Trade well ...
Smart_trade
Last edited:
Re: Intraday Miniflow Trades for Today: Saint's Method
ST - thank you for your kind words.
I know what you mean and I could get what Rakesh said and I knew even without looking at 60 min chart that 10:30 bar on 30 TF and 11 am bar on 60 TF are same, Rakesh is too experienced to miss out on such things. But again my question is - is that a valid reversal point? It is not a pivot on 30 TF which is our main reference chart nor is it a WRB which will give us confidence that price on its reversal will continue to shoot upwards to give us a decent profit knowing very well that prices have travelled far above it at the opening of the day and the possibility of that movement petering out before even taking out day's high is very much a high probability. I would still wait for day's high + increased filter to take the second trade.
Moreover taking 60 min high as a SAR point is not as per rules - I wonder. Saint had alluded to it just to take some queues when other clues are not there to guide us. Here I do not think this was a trade to be taken.
My views only.
Bee
ST - thank you for your kind words.
I know what you mean and I could get what Rakesh said and I knew even without looking at 60 min chart that 10:30 bar on 30 TF and 11 am bar on 60 TF are same, Rakesh is too experienced to miss out on such things. But again my question is - is that a valid reversal point? It is not a pivot on 30 TF which is our main reference chart nor is it a WRB which will give us confidence that price on its reversal will continue to shoot upwards to give us a decent profit knowing very well that prices have travelled far above it at the opening of the day and the possibility of that movement petering out before even taking out day's high is very much a high probability. I would still wait for day's high + increased filter to take the second trade.
Moreover taking 60 min high as a SAR point is not as per rules - I wonder. Saint had alluded to it just to take some queues when other clues are not there to guide us. Here I do not think this was a trade to be taken.
My views only.
Bee
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