Teach A Man To Fish And.........

[Saint]

Re: About absence of a pivot high.

Hello Saint,

Am seeing an hourly chart of Nifty, which is in an uptrend. Now entries in 5 min are sought. The chart is attached.

5 min has broken a pivot low and is now in a downtrend. A break of a pivot high is awaited. However, the pivot high in this case is vague.

Do the two red horizontal lines mark pivot highs. If so, they aren't they a little odd and hence allowing a lot of room for subjectivity.

How do you suggest one should tackle this?

Amit

Yes,pivot highs.......didn't get you on the next question.

Saint

 

[Saint]

Saint he's congratulting you for 5000 posts, dont know what size the cake should be for accomodating 5000 candles, coz. each of your post was just like a candle lightened.

Thanks for great work

Ah,got it now........thanks!

Saint

 

[Saint]

You must be annoyed by now since I butt-in to answer every question of yours? Please do not be. Nor feel any compulsion to revert back to any of my answers. I do it merely with the hope that if wrong then I will be corrected.

So here I go again

You asked:

"Do we wait for uptrend to turn into downtrend to enter short or look for a start of a decline in downtrend to go short?"

Answer:
In this case we wait for an uptrend to turn into downtrend. However, if you were trading the weekly chart, by referring to the monthly chart then you would to the later. And like you suggested to catch a start of a decline we could enter at the reversal of one-bar.

You may ask "Why the distinction?" Remember Saint said
"WHY? That's the way longer time frames behave.....and this is the way shorter time frames behave."


I have attached a chart with my answers in thin black colored fonts. Please care to take a look and revert.

Amit.

Great going,Amit.....Well done!!

Nothing more to add from my end,Prabhjeet...

Saint

 

[shrineha]

Hello Saint,

Do you have any input on the logic and also on volume so that I can learn few things here.

many thanks for your help.

kind regards,
Shripad

Hello Reji,

Interesting comment. The reason for me doing this trade was on the daily chart 4 white candles in a row with low of 3rd high candle taking out the high of 1st candle and 4th one moving higher. Also one high volume day with upmove on 4th of April. but in the restrospection I think you are right that I should have waited for additional confirmation about taking out of previous pivot high.

Just curious on what kind of filter you guys apply when it comes to volume? How much volume is high volume, how much much is medium volume ?

Are low volume stock always strict 'no no' when it comes to TA?Apologies if repetition of questions.

Apologies . still do not know how to post a chart.

Kind regards,
Shrineha

 

[pakatil]

Dear Saint,

What should be the Larger & Shorter Time Frames in Day Trading. Can it be 15/5 or 5/2 or 5/1 or 15/5/1 mins. I am trying to go through the Thread studiously, some how not able to pick the ropes. Will keep trying till I pick up atleast rudimentary stuff.

Cheers
PAKatil

 

[djsinha]

I would stay away from it,DJ......looking more and more like a Rising Wedge to me.....which is bearish.

Of course,bearish divs on many indicators,if you do look at them....

Entry was in Dec last week.......this looks like a rally that is now huffing and puffing and seemingly running out of steam.

Saint

Thanx Saint.....noted the rising wedge. Also noted the falling gradient in price indicating that the rally may be going short on steam.
I'm on leave now and not carrying lappy....so no metastock and no research for a couple of dayz. Will study the bearish div in other indicators (as u pointed out) when I get back to work.

Cheers
dj

 

[Satyen]

10% filter seems to be useless when we apply after having only single higher pivot low in our favour. The way I use my 10% filter is either when I have atleast 4 higher pivot lows with me or when my trade has gained more than 50%

My funda for using this tactic is that when you have a real good winner dont let it go easily , I am not advocating to latch on to trade until we turn it from a winner to a loser but giving your obedient disciple just a little bit more room for error. I have felt it personally that after getting out of a large profitable trade we do tend to make a few bad trades so i let my good trade jump up & down more.

This filter thing though is a matter of only personal liking just like we add salt according to our own taste, so everybody has to decide for themselves whether we use it or not and if we do use it than whats the limit.

Will come up with charts of Nagarjuna and Ifci ,how filter worked for me

Regards

Hi prabhjeetrana

usingg filter system is good in this way you avoid Noise from actual break out
but why 10% rule one should desing it according to stocks historical volatility so for some case it may be less than 10% and some cases greater than 10%
i dont know much about all this u can contact asish da , CV , beginer_av ,ajay for volatility based stop loss
please dont take it as offence but had a thought and share it

Again according to pivot method when all time frame are inline you may see less volatility ... like weekely in a strong uptrend and we get a pullback or consolidation in weekkly then in daily we have a downtrend or may find some patterns if it is a consolidation/sideways movement in that case break out of pivot or from pattern in daily wil be neat one

but if weekly in downtrend and daily just changings it trend to upwards then we may finnd lot of volatlity in daily unless we have weekly uptrend

Now a days if u take daily nifty and hourly nifty u may have noticed .. daily clearly in downtrend and when we get a 60 min uptrend it tend to terminate by the gap down or breking pivot lows ..... it remind the law posted by CV and explained by Saint that lower time frame trend running opposit dirrection of higher time frame can be end any time

waiting your valuable comments on this
Regards
Satya

 

[mutualinvestor]

can anyone discuss hindustan dorr oliver as a trading stock? thanks

 

[jamit_05]

can anyone discuss hindustan dorr oliver as a trading stock? thanks

This stock might be worth watching after it clears 123 on daily chart.

 

[aksoni]

what does today's nifty intraday chart suggests ?