Nifty Futures-5 Min Pivot Method-Live Discussion

[metushar]

Accrdng to my charts, 10:50 Low is 4478 and 10:55 Low is 4478.6
It doesnt qualify as a PL for me.

Btw, can anyone post the ATR(15) from nifty fut daily charts till yesterday? Funny enough, my charting doesnt have an ATR!!!
it will help me post the possible trades for the day using rajendrani's method only!

will post ATR(15) levels...146.3 for 3rd june
7% = 11
10% = 15
15% = 22

Boy...there is difference !!1

 

[shivaraja]

Hi All,

I'm trying out the 5min pivots today. Can we call the 1:30PM 5min bar a pivot high and a pivot low? Pls advise.

 

[ag_fx]

I took the filter for this method as 12 points.

11:20 High was 4797.5
Thus our entry point was 4410(Rounded off, thats the way I prefer to trade).

If entered with 2 lots, +25 points movement came at about 12:45 and one lot was closed at 4435.

Ideally, in such a case, after booking one lot, I would update my SL to the entry point. However, this is completely my view and different traders may see it differently.

Since, we are long, we are looking fwd to update our SL and SAR level and thus looking for a new PL formation. This occurred at 1:00 PM bar, where a new PL (strong) is formed and we move our SL to the low of the bar-f(4522.5-12= 4509). This level coincides with our entry point too.

Thus so far, from this method, one trade entered in the day. +25 points definately in the pocket and our stops are at entry levels for the day.

Lets see how it goes ahead.

 

[jamit_05]

Okay... does 13.55 look like a strong PL and hence a valid SAR point.

 

[jamit_05]

Hi All,

I'm trying out the 5min pivots today. Can we call the 1:30PM 5min bar a pivot high and a pivot low? Pls advise.

Nope.. not to my eyes.

 

[ag_fx]

Okay... does 13.55 look like a strong PL and hence a valid SAR point.

Yes it is a valid PL , strong one and a SAR level. But also remember, we are closing to 2:45 now. According to the system, after that time, no SARs, only SLs/TPs.

 

[rajendrani]

Okay... does 13.55 look like a strong PL and hence a valid SAR point.

Yes it is a valid SAR point

 

[rajendrani]

Yes it is a valid PL , strong one and a SAR level. But also remember, we are closing to 2:45 now. According to the system, after that time, no SARs, only SLs/TPs.

Yes this will be valid only after 2.45 pm till then it can be SAR

 

[rajendrani]

Yes it is a valid PL , strong one and a SAR level. But also remember, we are closing to 2:45 now. According to the system, after that time, no SARs, only SLs/TPs.

Ankit I am glad that you got the whole system very right.

Keep it up and keep correcting the people, if they go wrong. I am short of time, otherwise would definately help you guys in understanding the system.

 

[ag_fx]

2:25 PM. Next valid, higher PL and SAR level.