Set-Ups disscused & practised @ Nifty Futures Trading Thread.

[jatinsoni]

time to change course again ???

[Satyen]

Originally Posted by alex_laxya

Originally posted by Aw10 in sam's companion guide of 60 min flow ,
Sam, Giving you idea about how I add to my postion on retracement. Keep in mind, that it is not what "60min flow --" strategy suggests for add in. Mentioning it here so that readers get some idea..

I use fibonacci retracement level and confirmation of break of pivot high at lower time frame. Wave length is taken from previous 60m Pivot Low to Previous 60m High.
Rules:-
1) Has price retraced to 38%, 50% or 62% level ?
2) If yes, then go down to lower timeframe chart (say 10 min).. and look for pivot high break on 10m chart.
Apply the methodlogy of "60min flow - " on 10m chart to find the break of Pivot High.
3) Enter with buy stop above the break of 10m PH. Postions size is discussed below..
4)Stoploss, at the low of 10m Pivot low for new position. For prev position stop is still at 60m PL.
5) Scale in another 2NF again when it breaks 60m Pivot.

Remember - number of contract, risk on position are upto individuals trading plan.
Strength of trend can be judged by % retracement that are given.
- If 38% retracement, then very high probability that we will have new high, so I can scale in with 4NF. One can also decide to still go ahead with 2NF add here.
- If 50% retracement, then equally chance of getting new high or making double top, so I can scale in with 2NF. I do add another 2F on break of 60m PH
- If 62% retracement, then quite likely that we will have lower high so I can scale in with 2NF
- If >62% retracement, then probably we are seeing the reversal. so avoid add in



Advantage - this method gives early entry, at comparitively small risk.
It helps in better risk reward as trend gets older. At letter stage of trend, difference between PH to next PH starts reducing so it is required to Add in with certain rules and low risk.

Happy Trend Trading.

Hi Alex do you apply all these rule today dont know how much % it retraced today but seems pullback on 60 if pivot on 15 break will you go long ???

Regards
Satya

Ps: This is "Satya_pinku2003" changed my ID

[biyasc]

Originally Posted by alex_laxya

Originally posted by Aw10 in sam's companion guide of 60 min flow ,
Sam, Giving you idea about how I add to my postion on retracement. Keep in mind, that it is not what "60min flow --" strategy suggests for add in. Mentioning it here so that readers get some idea..

I use fibonacci retracement level and confirmation of break of pivot high at lower time frame. Wave length is taken from previous 60m Pivot Low to Previous 60m High.
Rules:-
1) Has price retraced to 38%, 50% or 62% level ?
2) If yes, then go down to lower timeframe chart (say 10 min).. and look for pivot high break on 10m chart.
Apply the methodlogy of "60min flow - " on 10m chart to find the break of Pivot High.
3) Enter with buy stop above the break of 10m PH. Postions size is discussed below..
4)Stoploss, at the low of 10m Pivot low for new position. For prev position stop is still at 60m PL.
5) Scale in another 2NF again when it breaks 60m Pivot.

Remember - number of contract, risk on position are upto individuals trading plan.
Strength of trend can be judged by % retracement that are given.
- If 38% retracement, then very high probability that we will have new high, so I can scale in with 4NF. One can also decide to still go ahead with 2NF add here.
- If 50% retracement, then equally chance of getting new high or making double top, so I can scale in with 2NF. I do add another 2F on break of 60m PH
- If 62% retracement, then quite likely that we will have lower high so I can scale in with 2NF
- If >62% retracement, then probably we are seeing the reversal. so avoid add in


Advantage - this method gives early entry, at comparitively small risk.
It helps in better risk reward as trend gets older. At letter stage of trend, difference between PH to next PH starts reducing so it is required to Add in with certain rules and low risk.

Happy Trend Trading.

you guys are doing wonderful job. increasing the level of this forum. keep it up.

[alex_laxya]

Originally Posted by Satyen

Hi Alex do you apply all these rule today dont know how much % it retraced today but seems pullback on 60 if pivot on 15 break will you go long ???

Regards
Satya

Ps: This is "Satya_pinku2003" changed my ID

sorry 4 late reply, was bz in 30 min. mini flow ....
there is our frnd, satyamsit who is posting on nifty positional thread, his analysis based on elliot wave using fib. replacement levels, he has quite a command on subject, asked him can we use same principal in day trading ? he said results are good ... m testing few charts along with what u said , and post here in free time.
Alex
P.S. meanwhile if some one found elliot afl then plz post here ( not that arrow marked afl , i mean the afl which will show elliot wave count )

[alex_laxya]

Originally Posted by Satyen

Hi Alex do you apply all these rule today dont know how much % it retraced today but seems pullback on 60 if pivot on 15 break will you go long ???

Regards
Satya

Ps: This is "Satya_pinku2003" changed my ID

made fib levels on hourly chart and shift it on 15 min tf, bellow chart is in 15 min tf


By alex_laxya

seems we never pull back above 61 % fib level plus room
as today was trend day, will try to post reversal chart, lets see ( as saint posted few ex. of reversal days ) will post in next time

[alex_laxya]

By alex_laxya

as saint mentioned imp day to learn .. 4th feb ... reversal was very sudden with lots of activity all day ... inside bar with narrow range .... more inputs needed if any

[alex_laxya]

By alex_laxya

IMP NOTE - I dont trade above set ups .. original idea was of fellow member, i thought its interesting so posted few charts.If nothing helps at least we get a clear idea of pivots.

[jatinsoni]

50% retracement again .

well this strategy is almost perfect..

[learn2trade08]

now watch the magic of 78%,my lucky number...

Originally Posted by jatinsoni

50% retracement again .

well this strategy is almost perfect..

[jatinsoni]

Originally Posted by learn2trade08

now watch the magic of 78%,my lucky number...

now one can pray for all 61, 78, so on.. 3200 is my next level...