Re: Intraday Miniflow Trades for Today: Saint's Method
Hi,
Miniflow trades for today: 4 Dec 09
Today was a simple and straight day....with the initial trade carrying through till the end.
We get a pivot on the 30min charts, formed by the high of 10:30 bar. Go LONG above the pivot plus filter with Stops at LOD. Remember, the filter here is NOT the filter we use for the first trade in the morning..but the filter used for SARs.
We get a vertical move after the pivots get taken out....However, the negative bar of 12:30 means we DO NOT get to use the 2 bar method to raise stops.
We get a pivot on 15 min at 2690..which is confirmed by the lows of 60min bar of 1pm....Hence we raise stops to 2690 less filter. The same is threatened...but not taken out.
We start moving out of the trade after 2750, as per individual plans.
Thanks,
Rakesh
ps: Purposely mentioning 4 bar rule which was not used...as many would have been tempted to use it today. Remember, sticking to basics and curbing our need to move stops every 30min would serve us good on days like this.