Saint's Pivot Method put to practice.

[Saint]

30 min pivot crack with a gap down,no blast off in initial part of the day either.........think short!!

Till the 30 blasts off and trades at yesterday's levels......for now,direction that we are looking at: Down

Saint

 

[amitpethkar]

30 min pivot crack with a gap down,no blast off in initial part of the day either.........think short!!

Till the 30 blasts off and trades at yesterday's levels......for now,direction that we are looking at: Down

Saint

Saint,

For the vertical move on 5 min we would be stopped out if we follow 2 bar low trailing stop. After that it again started moving up with fire. How do we handle this? Do we see the strength and enter again or wait?

If you could post the chart that would be really great.

Thanks,
Amit

 

[Smart_trade]

Common guys ,wake up and post yr trades.We cannot let a day like today go with no action.

 

[beginner_av]

lol .......don't think anyone in this forum buys that one,my friend.

Saint

Hi Saint, that was just to remind my friends here that there is no certain trade, only probable.

Low Probability -> High doubt
High Probability -> Low doubt
No Probability -> No doubt

Will go through your excellent method once I cope with my new projects.

 

[amitpethkar]

Saint,

For the vertical move on 5 min we would be stopped out if we follow 2 bar low trailing stop. After that it again started moving up with fire. How do we handle this? Do we see the strength and enter again or wait?

If you could post the chart that would be really great.

Thanks,
Amit

Hi Saint,

I have attached the chart with today's trades marked as per the pivot method on 5min timeframe. Its purely 5 min timeframe and no perspective chart. BUYs are marked with UP arrows and SHORT with down arrows. Let me know if they are correct trades.

You mentioned in this thread we can capture the initial move on 5min when 30 min is still not in uptend. I think today was that case , but then you will get more trades and whipsaws also.

Thanks,
Amit

 

[rakeshluthra430]

Hello,
Dont know why no one posted any learning trades during the day today. Lest the tempo dies down and the learning stops, let me make an attempt to post todays setup and trade.

The 30 min Nifty was in an uptrend yesterday...with newPivot highs being formed and higher lows (higher Pivot low would have been confirmed if Nifty spot had crossed 4542). With this perspective we enter the trading day today.......

Gap down, below the probable pivot low of yesterday......looking to short below the low of 5 min candle.

Trade 1 : First 5 min low of 4386 broken... we enter short with sl of 4405....in the next few candles this sl is hit.

Trade 2 : Nifty 5 min forming a bearish flag... lower highs being formed...again looking to short. Shorted again at 4386...with 4407 as sl. Market goes down till 4376....but then forms a WRB. SL taken out.

Trade 3 : Still looking for shorting opportunities. However...market takes out the intraday high at 4414...GOING LONG. (in a BEARISH perspective, shd take a LONG trade only if Days high are crossed....after repeated attempts by the markets to go down are negated). Add as we go along..

Nifty thus has formed a Higher Pivot High....tomorrow the bias would be to go long after a downtrend on the 5 min.

Saint, please let us know if the approach is ok.... charts attached

 

[Saint]

Hello,
Dont know why no one posted any learning trades during the day today. Lest the tempo dies down and the learning stops, let me make an attempt to post todays setup and trade.

The 30 min Nifty was in an uptrend yesterday...with newPivot highs being formed and higher lows (higher Pivot low would have been confirmed if Nifty spot had crossed 4542). With this perspective we enter the trading day today.......

Gap down, below the probable pivot low of yesterday......looking to short below the low of 5 min candle.

Trade 1 : First 5 min low of 4386 broken... we enter short with sl of 4405....in the next few candles this sl is hit.

Trade 2 : Nifty 5 min forming a bearish flag... lower highs being formed...again looking to short. Shorted again at 4386...with 4407 as sl. Market goes down till 4376....but then forms a WRB. SL taken out.

Trade 3 : Still looking for shorting opportunities. However...market takes out the intraday high at 4414...GOING LONG. (in a BEARISH perspective, shd take a LONG trade only if Days high are crossed....after repeated attempts by the markets to go down are negated). Add as we go along..

Nifty thus has formed a Higher Pivot High....tomorrow the bias would be to go long after a downtrend on the 5 min.

Saint, please let us know if the approach is ok.... charts attached

Rakesh,yep on all......great going!And nice sell out in that bar in the last trade.When you get a vertical move up nearing the end of the day,get out the first bar down.....Nice,Rakesh!

Saint

 

[Saint]

Hi Saint,

I have attached the chart with today's trades marked as per the pivot method on 5min timeframe. Its purely 5 min timeframe and no perspective chart. BUYs are marked with UP arrows and SHORT with down arrows. Let me know if they are correct trades.

You mentioned in this thread we can capture the initial move on 5min when 30 min is still not in uptend. I think today was that case , but then you will get more trades and whipsaws also.

Thanks,
Amit

Hmm....that first bar is different from mine and Rakesh's.....either way,where you entered long,no trade there,no pivot,just a gradual pullback,and then a fall, a pivot and then a short trade as correctly pointed out.Which got stopped and then a long trade after that.

And,Amit,intraday trading is all about getting whipsawed here and there......part of trading!

And yes......this was the scenario where the 30 is in dntrend mode,just traded above previous pivots and then a visual gap down......it's going to do something in either direction.Getting stopped out here and there is fine so long as you catch that trend move up and pyramid upwards as Rakesh demonstrated.

Saint

 

[jamit_05]

Common guys ,wake up and post yr trades.We cannot let a day like today go with no action.

Sincere Apologies friends. For missing yesterday's trading day.... one could safely attribute it to unforseen teething problems.

Rakesh... really appreciate your attempt to keep the spirit going. Thank you for joining-in.

Smart_Trade... each trading day is indeed very important for learning. Shall try level best to contain these problems beforehand.

<Indeed, trading is not just the trading method.>

Am currently installing the PIB, hope to kick start trading today.

Good morning.

 

[Saint]

NF in a decline on the 30.The 5min chart is in a downtrend.So far a yawn day,at least as far as NF is concerned......Basically looking for a setup to get long.

Think a bit more of this grinding sideways move left before the 30/60 ready to fire again.whichever direction.

Saint