New Intermed Uptrend!!
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Saint and other trend trader
Is this the way we do pivot tradering , i have attached a chart of indiainfoline and pointed out few HH,HL,LL,LH on that.
Plz let me know if i am wrong somewher
also attached a weekly chart of the same giving dynamite pattern and may be a wave 5 is in progress.
Robin Malihan
Is this the way we do pivot tradering , i have attached a chart of indiainfoline and pointed out few HH,HL,LL,LH on that.
Plz let me know if i am wrong somewher
also attached a weekly chart of the same giving dynamite pattern and may be a wave 5 is in progress.
Robin Malihan
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Buying the first time the trend changes?
Hi Saint,
Divis Lab changed the daily trend to up on the 10th, and you made an entry on this day itself. My question is: The weekly is down, then why buy daily? However, if you wanted to trade the hourly chart, arent you supposed to wait for a pivot high break from an hourly downtrend?
Please clarify.
Amit.
Hi Saint,
Divis Lab changed the daily trend to up on the 10th, and you made an entry on this day itself. My question is: The weekly is down, then why buy daily? However, if you wanted to trade the hourly chart, arent you supposed to wait for a pivot high break from an hourly downtrend?
Please clarify.
Amit.
Oh i see 'Kumar' is the surname right? Henceforth i'll stick to what i'm familiar with - our good old (young actually 
Saint.
As for the 1st tgt - in reality that would only be a watch-out level (specially if the Higher tf trend is still flat or down) & the bigger move is also what i'd be looking for.
After entering the pullback (pivot low) one can watch out for 2 things
i) whether the next (subsequent) Pivot high takes out the preceding pivot high
ii) whether the pullback from this next Pivot high forms a lower pivot that's higher* than ones entry (at the preceding lower pivot) level
If the trend persists both of the above should happen; in that case one can pyramid at this (subsequent) lower pivot - using the same kind of entry in the same manner as at the preceding lower pivot.
If either or both doesn't happen, then one can conclude that the trend isn't mature yet (or an existing trend is weakening), maybe it's entering a new ranging phase - & accordingly one can decide to get out/ book partially on the next up leg or simply adopt a wait & watch policy (with the low-risk protective stop already in place).
However as you mentioned the possibility of a false move is always there. That's why i think one should wait for the pivot low to form completely (2 higher bars on either side of the pivot bar) & entry above the high of the last (5th) bar. (Also cues can be taken from a lower tf to see if the trend has matured there & satisfying the 2 aforesaid conditions; but in intraday trading handling so many tfs in RT can be impractical)
Anyway i posted this only as a view that occurred to me (particularly after reading that early-entry post of yours. Your method is time-tested. So carry on your good work.
Also like the fact the method is evolving. I liked the change in exit rules for higher tfs - from pivot to bar (which is an indirect use of a lower tf pivot). You have also incorporated patterns, but would suggest not using too many of them as the beauty of this one lies in its simplicity & non-subjectivity.
Regards,
Kalyan.
*or at least within the range of the entry bar
Saint.As for the 1st tgt - in reality that would only be a watch-out level (specially if the Higher tf trend is still flat or down) & the bigger move is also what i'd be looking for.
After entering the pullback (pivot low) one can watch out for 2 things
i) whether the next (subsequent) Pivot high takes out the preceding pivot high
ii) whether the pullback from this next Pivot high forms a lower pivot that's higher* than ones entry (at the preceding lower pivot) level
If the trend persists both of the above should happen; in that case one can pyramid at this (subsequent) lower pivot - using the same kind of entry in the same manner as at the preceding lower pivot.
If either or both doesn't happen, then one can conclude that the trend isn't mature yet (or an existing trend is weakening), maybe it's entering a new ranging phase - & accordingly one can decide to get out/ book partially on the next up leg or simply adopt a wait & watch policy (with the low-risk protective stop already in place).
However as you mentioned the possibility of a false move is always there. That's why i think one should wait for the pivot low to form completely (2 higher bars on either side of the pivot bar) & entry above the high of the last (5th) bar. (Also cues can be taken from a lower tf to see if the trend has matured there & satisfying the 2 aforesaid conditions; but in intraday trading handling so many tfs in RT can be impractical)
Anyway i posted this only as a view that occurred to me (particularly after reading that early-entry post of yours
. Your method is time-tested. So carry on your good work.Also like the fact the method is evolving. I liked the change in exit rules for higher tfs - from pivot to bar (which is an indirect use of a lower tf pivot). You have also incorporated patterns, but would suggest not using too many of them as the beauty of this one lies in its simplicity & non-subjectivity.
Regards,
Kalyan.
*or at least within the range of the entry bar
Thanks as always!
All the best!
Saint
V
download bill williams - trading chaos & go directly to pg 133
thnks for reminding, i am goin to read it again today.
THE FRACTAL PATTERN
The fractal pattern is a simple one. The market makes a move in one direction or the other.
After a period of time, all the willing buyer, have bought (on an up move) and the market falls back because of a lack of buyers. Then some new incoming information (Chaos) begins to affect the traders. There is an influx of new buying, and the market, finding that place of equal disagreement on value and agreement on price, moves up. If the momentum and the
buyers' strength are strong enough to exceed the immediately preceding up fractal, we would place an order to buy one tick over the high of the fractal.
The technical definition of a fractal is: a series of a minimum of five consecutive bars where the highest high is preceded by two lower highs and is followed by two lower highs.
One way to visualize this is to hold your hand outstretched in front of you with your fingers spread and your middle finger pointing up.
Your fingers are your five consecutive bars, and your middle finger is the highest, creating a fractal formation. In an up fractal, we are interested only in the bars' high, and in a down fractal, we are interested only in the bars' low.
It is important to note the following restrictions:
1. If the current bars' high is the same height as the middle or high bar, it does not count as one of the five bars necessary to form a fractal. For a buy fractal, you must have a high that is
preceded by two lower highs and followed by two lower highs. For a sell fractal, you must have a low that is preceded by two higher lows and followed by two higher lows.
2. Up and down fractals may share bars. The same bar can be part of both an up and a down fractal.
DIRECTLY TAKEN FROM BILL WILLIAMS BOOK...it is a complex subject which require very deep study.concentrate on saints pivots. its much easy.
so how do i find my pivots & fractals on the same chart...very easy to do in metastock.i am attaching the chart of acc created with metastock expert.
blue line - intermediate pivot high
red line - intermediate pivot low
black dots - up & down fractals
yellow line - trend line indicating an ascending triangle.
the trend is very clear once u put the pivots & fractals in place.
pls correct me if im wrong.....
ashish 'da is going to shoot me down
thnks for reminding, i am goin to read it again today.
THE FRACTAL PATTERN
The fractal pattern is a simple one. The market makes a move in one direction or the other.
After a period of time, all the willing buyer, have bought (on an up move) and the market falls back because of a lack of buyers. Then some new incoming information (Chaos) begins to affect the traders. There is an influx of new buying, and the market, finding that place of equal disagreement on value and agreement on price, moves up. If the momentum and the
buyers' strength are strong enough to exceed the immediately preceding up fractal, we would place an order to buy one tick over the high of the fractal.
The technical definition of a fractal is: a series of a minimum of five consecutive bars where the highest high is preceded by two lower highs and is followed by two lower highs.
One way to visualize this is to hold your hand outstretched in front of you with your fingers spread and your middle finger pointing up.
Your fingers are your five consecutive bars, and your middle finger is the highest, creating a fractal formation. In an up fractal, we are interested only in the bars' high, and in a down fractal, we are interested only in the bars' low.
It is important to note the following restrictions:
1. If the current bars' high is the same height as the middle or high bar, it does not count as one of the five bars necessary to form a fractal. For a buy fractal, you must have a high that is
preceded by two lower highs and followed by two lower highs. For a sell fractal, you must have a low that is preceded by two higher lows and followed by two higher lows.
2. Up and down fractals may share bars. The same bar can be part of both an up and a down fractal.
DIRECTLY TAKEN FROM BILL WILLIAMS BOOK...it is a complex subject which require very deep study.concentrate on saints pivots. its much easy.
so how do i find my pivots & fractals on the same chart...very easy to do in metastock.i am attaching the chart of acc created with metastock expert.
blue line - intermediate pivot high
red line - intermediate pivot low
black dots - up & down fractals
yellow line - trend line indicating an ascending triangle.
the trend is very clear once u put the pivots & fractals in place.
pls correct me if im wrong.....
ashish 'da is going to shoot me down
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