New Intermed Uptrend!!

[milkyblack]

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!



By "avoid" you mean, you are hoping that there will be a way to avoid ALL whipsaws. One carpet solution. Nope, there isnt one.



My suggestion is that while working in this area of the forum where Saint's shadow lurks, do not expect anything technically magical. Expect just plain simple trend following.

This pivot method is good enough for you, but the real question are you good enough for it

Thanks a lot jamit!

Actually I myself... did tht mistake of shorting... as 60min was in UT... so all my questions gets answered in a single line... tht I should not have shorted...

Well I still request you, Saint and other senior members to please look at the other queries also, should trade be reversed at break of WRB high/low, and second query in vertical fall/rise, the 2 bar SL mechanism is it to "only" exit or also to "reverse"...


Regards

ps: I do not know if I am good for pivot system... how can I know it?

 

[milkyblack]

Hello Saint and senior members,

I have one more query for the 60 min NF chart... and I really need guidance on tht...
Say I am trading 60 NF... In tht case it is UT... Now it made a Pivot low near 4940/4930... after tht it kept on moving up, taking the pivot high of 5080...
and then it kept on moving up, after continuation pattern brk outs...
Now my query is tht ... where should be the SL be placed... is it at the pivot low near 4950 or below the low of the continuation pattern.. 5100...
But do we short when it trades below 5100
will 5100 be considered a pivot low? or a low of a consolidation?
Also when can we say tht the UT of 60 is in "question" now... apart from Uptrend line break... following pivot system
Really need guidance on this...

Regards

 

[jamit_05]

Well I still request you, Saint and other senior members to please look at the other queries also, should trade be reversed at break of WRB high/low, and second query in vertical fall/rise, the 2 bar SL mechanism is it to "only" exit or also to "reverse"...

Our primary intention while following the Pivot method is to catch the most of a trend. In that light, if I were to reverse my position at the break of a Wide Range Bar' H/L will I be in line with the prevailing trend? No, right. So you do not reverse your positions.

Saint does not typically reverse his position in such a manner. And as far as my belief in him goes, he will not teach what he does not do. Thus far he has said that he would take profits after a WRB. Not at the reverse of it though. Meaning, he wants to make the best of the quick move, a windfall. Like he did in Bombay Dyeing recently.

Even for your second query, do not think about reversing too much. There isnt much room for it in Pivot method.

Good bout of questions Milky. Nice. It feels good to have revised some important concepts.

Amit.

 

[jamit_05]

Hello Saint and senior members,

I have one more query for the 60 min NF chart... and I really need guidance on tht...
Say I am trading 60 NF... In tht case it is UT... Now it made a Pivot low near 4940/4930... after tht it kept on moving up, taking the pivot high of 5080...
and then it kept on moving up, after continuation pattern brk outs...
Now my query is tht ... where should be the SL be placed... is it at the pivot low near 4950 or below the low of the continuation pattern.. 5100...
But do we short when it trades below 5100
will 5100 be considered a pivot low? or a low of a consolidation?
Also when can we say tht the UT of 60 is in "question" now... apart from Uptrend line break... following pivot system
Really need guidance on this...

Regards

Saint, could you please refer to the chart attached. I have a question on the initial stop. The initial stop is too far so, I thought would it be okay to move it.

 

[robin_malihan]

New contender for an uptrend , seems to be a good buy with a small stop also .

IFCI seems to be again ready for an uptrend.

This share seem be consolidating in weekly chart for some time and as far as i know consoldation after a move up is good thing for technical point of veiw, also forming a triangle in daily chart .


one more contender is aftech infosys which is also consolidating on weekly chart and has give tripple bottam and double top on daily chart means rectangle consolidation , ready to break that channel


Robin

 

[pshirurkar]

ifci has previous resistance at 63 . it tried to break this resistance during
last week .but failed.
if it crosses that resistance during this week and stay above that .it will definately a good buy.

 

[milkyblack]

Our primary intention while following the Pivot method is to catch the most of a trend. In that light, if I were to reverse my position at the break of a Wide Range Bar' H/L will I be in line with the prevailing trend? No, right. So you do not reverse your positions.

Saint does not typically reverse his position in such a manner. And as far as my belief in him goes, he will not teach what he does not do. Thus far he has said that he would take profits after a WRB. Not at the reverse of it though. Meaning, he wants to make the best of the quick move, a windfall. Like he did in Bombay Dyeing recently.

Even for your second query, do not think about reversing too much. There isnt much room for it in Pivot method.

Good bout of questions Milky. Nice. It feels good to have revised some important concepts.

Amit.

Thanks a lot for your prompt resposne
You have cleared lot of confusion tht was in my mind....
And thanks a lot for the appreciation of my questions
Will shoot more when doubt comes

Regards

 

[Satyen]

out from my longs as 5100 broken


Regards
Satya

 

[milkyblack]

out from my longs as 5100 broken


Regards
Satya

Trading 5 mins?

Regards

 

[Satyen]

Trading 5 mins?

Regards

Hi morning
No 60 min

regards
Satya