iCharts Discussions

[musicjunkie]

Gap at/above our stops. Basically waited for the 5min bar to complete and long above that. 3024+ filter.
Rolled over to next month as well.

Can anyone tell me where the pivot low is now? where will we move stops?

Will Be be answering that question in a short while if no responses...

MJ-

[Stockhunter]

[musicjunkie]

[Stockhunter]

Thanks MJ, yes I can see yesterdays lows now as the new pivot low.

and hey, I am enjoying this converrsation and your company too... good yet down to earth traders are a rarity now a days and I am glad I have found one in you ...

Cheers
SH

[musicjunkie1]

[Stockhunter]

MJ - to grab initiative here, I am posting the recent trade with entry and SL point as per my understanding.

Request you to help identify:

1. If SL point is correct?
2. Any adds that should have been done but missed by me on charts?
3. Anything else to look out for on this chart which i have missed?

Lets keep adding the chart everyday after trading hours to show any change in positions/revised SLs/Adds etc. It will really help in transparently seeing through how the system works and also get used to small nitty gritties. Hope for your help and ongoing support here (which knowing you till now, you would not shy away from )

Thanks MJ

Cheers
SH

[NORBE_1958]

Its great to see the great minds work hand in hand , all the best for better results

[saikat]

Hi,

Firstly thanks to MJ for starting this post.
I have posted my own understanding.
No adds till now...
and I am not sure though whether my latest SL is OK (3073-15 = 3058)

Also yesterdays 11 am Bar can be treated as a Failed BO Bar.... but no reversal to Shorts as NF never breached (3074-15) = 3059 ( ie low of that bar minus filter). Am I correct. So we are still long... hmmmm..

Waiting for MJ to correct...

Regards,

Saikat

[saikat]

Hello Sunsoft,

This system works on the oldest principle (and still holding good) - that is - in a uptrend - we make higher highs and higher lows; and in downtrend - we make lower highs and lower lows.

Richard Dennis's Turtle and this Saint's PIVOT here - are all actually using the same principle - modified here and there.. little bit.
The beauty is - You don't need anything.. anything - other than price - no EMA / RSEX / DOW / INFLATION... nothing.
And that makes it also very difficult to follow - as our intlligent mind can't stop using complecated TA tools and news which are so much overflowing.

It is very difficult to act as a slave to this simple system. But if you can follow this, then I can assure you - this is an wonderful system.

Best of Luck.

Regards,

Saikat

[NORBE_1958]

Hai MJ,

Will u be able to give the MF,SF,AF for Bank Nifty to be used for 60min flow and well as the 30min intra as Saint informed in Nifty there are 2 sets,pls oblidge Tks

[musicjunkie]

First to answer the SL query, Stops are at 3pm low - Filter For me. Holding longs +1 add.
As always we wait for the frist 5min bar to form, and if a gap below pivots then reverse on the 5min bar.

Regards
MJ

[musicjunkie]

Thanks Saikat for the wonderful write-up. Very nicely put !

Norb, could you please rephrase your question? couldn't get you

Regards,
MJ

[sunsoft.Tech]

Thanks Saikat

[musicjunkie]

Now short in NF.

MJ

[NORBE_1958]

MJ,
In short please inform what is the MF,SF,AF for Bank Nifty when we follow the miniflow 30min, like wise the following for 60minute flow

as I understand for Nifty 30 min is 15 and 60 minutes is 20 is this correct