60 min Flow in International Commodities.

[santhosh44]

If you are intrested, I will discuss ranges in this thread, seek permission from others also, its very important in Bear Markets

Please go ahead Prabh.. really intrested to hear your views.. Thanks

 

[santhosh44]

Reversal to short may or may not be proved wrong.. but I think the entry was NOT correct.. Gold already up 135 points from our short entry .. We may need to fine tune or customize certain 60-min flow rules for commo trading..

So prabh, according to your opinion SAR should have been kept @ 2pm bar's low, which is a CLEAR pivot low. Please correct if I'm wrong..

One more point in my mind.. Add's should be done to our positions only when we are in the direction of the daily trend..

 

[santhosh44]

SAR hit .. Reversed to Long..

Thanks to Prabh. Lesson No.1 learnt

Also some pivot experts plz answer.. Can we consider 9pm bar low as a CLEAR pivot to be considered for a reversal..

 

[kvram]

prabhjeetranaji plz start sir gold as newbies we love to learn from experienced traders and big heart ppl like you to teach,Thank you.

 

[Prabhjeet]

Prabh

Please do discuss. No permission needed. Yes NIFTY is getting on my nerves.

But you said you are trading gold on daily then what are you seeing on 60 min chart? On daily charts main pivots only to be played - tension free I guess - somewhat.

In crude we missed the bus when it came down from 147 to 37 USD.

Please put up your ideas. I thank all the members here for valuable contribution.

Bee

Yes Bee right now I am prefering trading daily charts only but I started trading the gold with 60 min., the flow was good, the profits were even better but the problem was time constriant so I switched onto Daily charts. I traded 60 min. Gold for about 10 days and it was clear that we have to keep ourselves a bit away from price movement,we have to give it room to develop large moves.

After some whipsaws it also was getting clear that though we may earn some points trading 60 min. against the Daily trend but the fat profits always lied in going with Daily trend. So what I prefer now is that we get out when the 60 Min. starts running against the main Daily trend and get in when it starts to agree with Daily

 

[Prabhjeet]

SAR hit .. Reversed to Long..

Thanks to Prabh. Lesson No.1 learnt

Also some pivot experts plz answer.. Can we consider 9pm bar low as a CLEAR pivot to be considered for a reversal..

Plz. dont say Lesson Learnt. This is the way which I think is correct, may be sometimes pure method may not work as well.

For me a Pivot should show some retacement that is clearly visible, not just a spike of 1 bar.

Suppose we are already holding a profitable position and have added to it also so we would not like a small correction to put us out of position and then we will have to try & get in and add at higher prices again if the trend is intact

Basically we have to be very aggressively managing our risks when we are entering, we would not like to take a large loss to our capital but once we are in, we should make sure that we exit at a place where sure reversal has taken place, not too early that it threatens our position, not too late that it threatens our profits, just the apt time.

You people have to spend some time with historical charts looking for healthy Pivots which have correction enough to be sure reversal points

 

[Prabhjeet]

Its good to see that everybody is enthusiastic about Trading but we cannot miss the most important Task before we actually start practicing a theory and that is EDUCATION.

Everyone is following Pivots for trading here but we still have not learnt how to identify Pivots, why do we need to ask each other whether this is a Pivot or not, we should be able to identify a Pivot even if somebody drags us from our sleep and asks us SHOW ME THE PIVOTS in this chart.


I am attaching a chart of the Pivots that are Visually obvious, though many of our colleagues like Rakeshluthra, Smart trade, Pattel have graduated to Aggressive Pivots but still it is important to learn basics before we graduate

Now see this chart and think how profitable it would have been to trade Crude even with Visually Obvious Pivots

 

[rajendrani]

Its good to see that everybody is enthusiastic about Trading but we cannot miss the most important Task before we actually start practicing a theory and that is EDUCATION.

Everyone is following Pivots for trading here but we still have not learnt how to identify Pivots, why do we need to ask each other whether this is a Pivot or not, we should be able to identify a Pivot even if somebody drags us from our sleep and asks us SHOW ME THE PIVOTS in this chart.


I am attaching a chart of the Pivots that are Visually obvious, though many of our colleagues like Rakeshluthra, Smart trade, Pattel have graduated to Aggressive Pivots but still it is important to learn basics before we graduate

Now see this chart and think how profitable it would have been to trade Crude even with Visually Obvious Pivots

I agree with you sir, trading with the visual pivots really gives big profits with less trades. For this is absolute must that we need to learn how to identify pivots, Even I myself would like to know more on this pivot learning.

I would be thankful to you, if you can start teaching us the basics and even I would like to contribute some with the help of charts. trading visual pivots are really one of the best methods.
Sir, we all hope you start with the basics very soon.

Thanks and regards,
rajendrani

 

[Prabhjeet]

Now that all of us are aware how we trade trends it is important to learn when we dont want to trade the Trending methods.

Before I even start, I will equest all the Newbies and Seniors to read the explaination with Open minds, plz. dont read it with a prejudiced mind. It will start making sense to you once you start searching the charts all over. Here we go

Now as you can see on charts, normally when a market is Trending , each of swings will be Higher or lower than previous than previous one depending on the trend.

But after prolonged trending move we may get swings which are almost equal in heights, something like /\/\ or \/\/. As soon as as you see this, you can press the ALERT button.

Now the thing to notice is that all /\/\ or \/\/ are not ranges, we should start drawing the envelope when we have already got 25 or more bars on Daily chart .

Now we draw a boundary joining the he highs and lows of /\/\ like shown in the chart. Now take the height of pattern from highest high to lowest low, suppose it comes out to 400 for Crude, now we have to draw an envelope outside the boundaries by Multipling the height of pattern by 0.25 and adding it both above and below the highs and lows of pattern.

In the above chart this outer envelope is marked by dotted line. So for suppose Crude I will add (400* 0.25) = 100 on both sides of range to get an envelope.

This outer envelope will decide when we start to have trending market again. I will take the trade only once the markets break the outer envelope and close outside it. You may even trade the following Pivot after the break of Range.

Plz. try and assimilate the whole thing, I will come up with more charts

 

[rajendrani]

Now that all of us are aware how we trade trends it is important to learn when we dont want to trade the Trending methods.

Before I even start, I will equest all the Newbies and Seniors to read the explaination with Open minds, plz. dont read it with a prejudiced mind. It will start making sense to you once you start searching the charts all over. Here we go

Now as you can see on charts, normally when a market is Trending , each of swings will be Higher or lower than previous than previous one depending on the trend.

But after prolonged trending move we may get swings which are almost equal in heights, something like /\/\ or \/\/. As soon as as you see this, you can press the ALERT button.

Now the thing to notice is that all /\/\ or \/\/ are not ranges, we should start drawing the envelope when we have already got 25 or more bars on Daily chart .

Now we draw a boundary joining the he highs and lows of /\/\ like shown in the chart. Now take the height of pattern from highest high to lowest low, suppose it comes out to 400 for Crude, now we have to draw an envelope outside the boundaries by Multipling the height of pattern by 0.25 and adding it both above and below the highs and lows of pattern.

In the above chart this outer envelope is marked by dotted line. So for suppose Crude I will add (400* 0.25) = 100 on both sides of range to get an envelope.

This outer envelope will decide when we start to have trending market again. I will take the trade only once the markets break the outer envelope and close outside it. You may even trade the following Pivot after the break of Range.

Plz. try and assimilate the whole thing, I will come up with more charts

Great going sir, thank you