New Intermed Uptrend!!

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Ah,another 60min trader.........hmmm,probably the new thread that will be started later today would be of help to you as well......

And,yes,right on,my friend.........new high,stop will be at 5100,low of the day.

Saint
ooops!!!! didnt see your reply before posting my own views...sorry Saint.
And yes....waiting for your 60 min thread eagerly.

Rakesh
 

Satyen

Well-Known Member
Hi Satya,
Seems correct to me...let Saint also confirm. Can you also post the Daily Nifty chart with levels..... just to recheck if my stop levels are correct (i am still to learn how to post charts here).:eek:

Thanks
Hi
rakesh yes you are right .... about daily chart ...
now we crossed todays high .... if this hour bar closes aboove this high my new stop will be todays low

Reagards
Satya
 

Satyen

Well-Known Member
Hi Satya,
Seems correct to me...let Saint also confirm. Can you also post the Daily Nifty chart with levels..... just to recheck if my stop levels are correct (i am still to learn how to post charts here).:eek:

Thanks
hi rakesh attach chart shows how to attach chart

Regards
Satya
 
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milkyblack

Well-Known Member
Dear Saint and all Senior members,

Help needed abt todays NF 5 min chart...

According to pivot system... today the pivot low of 5110 was broken and then made another pivot low of 5107... well tht means to exit long on the break(of 5110) and short with SL of 5147 rgt? But today it made a double bottom at tht level of 5110... and by rules of pivot one should hold until SL gets hit rgt? Is there anyway to avoid such scenario like today? Did I read the chart wrong? As I had followed it and obviously it broke out 5147... Let me add to this tht, I follow pivot system and it is profitable... but was just wondering if this type of situation can be avoided or atleast a small SL (logical) can be placed where one can even reverse position... was the fall at 1.30 pm a vertical fall? In tht case 5135 could have been the SL, but can we reverse it there? Also can one reverse position once the WRB high/low is taken out?

It was not a good day for me in trading today... but I want to make it a better one... if I could learn something by learing my mistakes of the trade I took today. Kindly point out my mistake of going short below 5110 with SL of 5147... (the SL was even deep, but tht was fine with me, if it was logical), but if there was some other logical reversal SL below tht... plz explain it to me...

Learning is best done in ranging markets(ofcourse by paying some tution fee) though it was little expensive today!

Hope the learning to payback much more!

Regards
 

milkyblack

Well-Known Member
Saint,
Today you are going to start the new 60min thread? :)
Wht would be the name of the thread?
"Assured hourly income"
"6 crores in 60 minutes"
"At 60 but still hot" ;)

I am sure you will come up with a nice decent name :D

Regards
 

jamit_05

Well-Known Member
Dear Saint and all Senior members,

Help needed abt todays NF 5 min chart...

According to pivot system... today the pivot low of 5110 was broken and then made another pivot low of 5107... well tht means to exit long on the break(of 5110) and short with SL of 5147 rgt?
Let me see if I can answer that.

I hope you are using the hourly for reference. In that case hourly is still up, hence no shorting!

But today it made a double bottom at tht level of 5110... and by rules of pivot one should hold until SL gets hit rgt? Is there anyway to avoid such scenario like today?
By "avoid" you mean, you are hoping that there will be a way to avoid ALL whipsaws. One carpet solution. Nope, there isnt one.

Did I read the chart wrong? As I had followed it and obviously it broke out 5147... Let me add to this tht, I follow pivot system and it is profitable... but was just wondering if this type of situation can be avoided or atleast a small SL (logical) can be placed where one can even reverse position... was the fall at 1.30 pm a vertical fall? In tht case 5135 could have been the SL, but can we reverse it there? Also can one reverse position once the WRB high/low is taken out?

It was not a good day for me in trading today... but I want to make it a better one... if I could learn something by learing my mistakes of the trade I took today. Kindly point out my mistake of going short below 5110 with SL of 5147... (the SL was even deep, but tht was fine with me, if it was logical), but if there was some other logical reversal SL below tht... plz explain it to me...
My suggestion is that while working in this area of the forum where Saint's shadows lurk, do not expect anything technically magical. Expect just plain simple trend following.

This pivot method is good enough for you, but the real question is are you good enough for it ;) (This is my personal realization too).
 
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