Trading With The Flow!!!

Opening up this thread for any questions about trading the WRB in the 60min Flow…….

http://tradersaint.com/forum/t-142942/the-60min-flow#post-443696

All the best!
Saint

Saint,

LAST NOTE:This again is in an Uptrend…..In a WRB Continuation move,stops at the high of the WRB.In a WRB Continuation move,possibly Exhaustion,stops at the high of the WRB.

High —> low?

Bee

LAST NOTE

:This again is in an Uptrend…..In a WRB Continuation move,stops at the high of the WRB.In a WRB Continuation move,possibly Exhaustion,stops at the high of the WRB.

Saint,

Is there a typo in the above sentence ? Should it read as "This again is in an Uptrend…..In a WRB Continuation move,stops at the low of the WRB.In a WRB Continuation move,possibly Exhaustion,stops at the (close -33% of (Close -Open))of the WRB.

Smart_trade

Thanks Bee/ST……………….Meant the last part for a downtrend.Already editted.Copying it below for clarification.

LAST NOTE:All this again is in an Uptrend…..In a WRB Continuation move in a downtrend however,stops at the high of the WRB.And even in a move that is possibly Exhaustion,stops still at the high of the WRB.

All the best!
Saint

Dear Saint if these marked bar are WRB then we short below the bearish bar ??

Regards
Satya

Satya,

Arrow 1 and 2 are not WRB……..The last is one,But not a breakout WRB…….SAR Point at the low of that WRB.

Saint

Saint,

Even if last arrow was a breakout WRB, look at that bar….it spent most of it's bullish energy before it took out the internal pivots and it took out those pivots in last 10% of that WRB.I have found that the bullish energy is spent out before the breakout,(like attempting a breakout at fag end of WRB's career)……..and even if it was a breakout WRB,it is better to keep SAR at low of that bar.

If however the pivot break comes in early part (between 0-40% ) of that WRB,then SAR at 50 % is perfect. In the first case (breakout at fag end of WRB)the market becomes overbought by the time it breaks the pivot and needs a correction and keeping SAR at next bar closing < 50 % etc will get this level taken out in correction….. I have observed this happening in number of WRBs. The WRB here is as if it just managed to take out internal pivots and lost its breath soon after……it is like trying to fight the enemy (pivot taking over) after climbing 6 floors on foot….very tough,it needs rest in form of correction.

Regards,

Smart_trade

Yes ST…………Already mentioned in the WRB post……those 3 bars down and if we get a WRB breaking out to new highs is not the definition of what we mean by a WRB Breakout.But well put,that pivot break must come in the early part in the formation of the WRB(Think even 40% is too much….).

Saint

Saint,

I have a querry on breakout bar failure in 60 min flow. I tried to open a new thread but the site does not consider me worthy of opening a new thread and refuses the permission. Please open a new thread on Q & A on 60 min flow breakout/breakdown failures and kindly shift this question there.

I was going through the "school"section and under breakout failure reversal following is mentioned.

"D.FAILED BREAKOUT BAR REVERSAL: Supposing a bar takes out a Pivot high and puts us out of Short position into a fresh Long position. Now supposing we are NOT able to take out the highs of this BREAK OUT BAR, we get an indication that the break out was false…and so we reverse to SHORTS again below the low of the break out bar minus the filter. IF we have a breakout in the Direction of the trend, and then it fails, we have ample reasons to reverse our positions. Whether we are sitting with initial positions or with adds, a failure of a breakout/breakdown is a great place to reverse and capitalize on."

In case of RIL,on 17th & 18th March,there was a case as under :

We were long, then pivot low broken,we went short,the breakdown candle is bearish,the next candle is also bearish,cracked the low of bearish breakdown candle….next candle inside bar…the day ends. Next day morning,10 :00 candle puts a bullish bar which takes out the high of the earlier breakdown candle(no gap opening),closes above that,next candle bullish….so on. In this case the breakdown candle low was broken and next day mkt reversed. Do we take it as breakdown failure and reverse above the breakdown candle top +f or we wait for PH to be taken out before reversal to long ?

Regards,

Smart_trade

:) ST……..Sorry about that.In this section,only I can create new threads……apologies.

Over the pivot high,ST…….. this move on RIL is a failed breakout,no doubt,and what ensues the next day is a failed breakout failure…..so,as far as we are concerned,it is reliance on pivots and a reversal once pivot highs are taken out.

All the best!
Saint

Oops….sorry Saint realised after reading your answer that it was Saint's section that I was trying to open a thread…..naturally only you can open a thread there….sorry for the goof up….apologies.

Thanks for your explanation on failed breakout case in RIL. So in short if the breakdown bar's low is exceeded in the next bar then we dont reverse on top of breakdown bar as a breakdown failure case but we wait for PH to be takenout for reversal. Breakdown failure treatment only if the next bar fails to crack the low of breakdownbar and the market reverses…..understood.

Thanks once again…..

Regards,

Smart_trade

saint sir, i saw it in one of the chart (31-oct-2008) posted by you in demystified thread.
for the sake of discussion,suppose we r short on previous day

31-10-2008

10 am bar……gap up ,buy 5 min h+f,sl previous day 3 pm bar low-f

11 am bar……BO bar put us in long,L-C @ 80points ,but it is not wrb as it put in longs at the middle, sl at low

of day-f

12 pm bar…… bearish,closes at more then 50% ,sl lod-f (IMO) ,should we change sl to BO bar low -f ,both are

nearby ,but ideally where it should be?

1 pm bar…….bearish ,sl cannot be shifted to 12 pm bar low untill 11 pm bar is taken as wrb

2 pm bar…….put in shorts h-l>90 points,it should also not to be taken as wrb b/c put in shorts at the midlle

not in upper part,sl hod +f

3 pm bar…….bullish,nothing to be done

3.30 ……….eod reverdsal

this day seems to have lot of action.plz reply whenever u have time

rgds
Maxim

Hi Maxim,

We are long going into the 31st Oct2008…………….but let us say we were for some reason short for the purpose of discussion.

10am :We have a gap up against our move(once again,we are actually long,this is just for discussion),and we go long over the 5min bar high.SAR Point at low of previous day.
11am:New highs……so far so good.We are in longs.Raising SAR to close of previous day.(there is something I am going to talk about soon…..for now,as per what we have already known thus far,move it to close of prev day).
12pm,1am,2pm:SAR unaffected.
3pm,3:30pm bar:We are still holding on to longs…..next day though we have us a new pivot low to raise our SAR to.

Maxim,careful on reading the mother thread alone over at TJ……….Have had the difficulty in introducing anything and taking it to the next level and therefore very many vital points and rules were not introduced and the trades there are nothing like what we would do right now.The method has been evolving in leaps and bounds but what could be explained in TJ is probably half of what it's all about.Will be pouring it out slowly over here as I see at least a majority of the active participants here getting the hang of things.

You are doing great so far,my friend………well done and keep it up.

Saint

Saint,

Waiting eagerly for the next stage of our learning. Also kindly do write something on your blog about flow method and your ideas. It will give us something to mull over in these long and boring weekends where we just wait with our browsers open with this site 24 hours twiddling our thumbs for some post from you.

Many thanks

Bee

Maxim,careful on reading the mother thread alone over at TJ……….Have had the difficulty in introducing anything and taking it to the next level and therefore very many vital points and rules were not introduced and the trades there are nothing like what we would do right now.The method has been evolving in leaps and bounds but what could be explained in TJ is probably half of what it's all about.Will be pouring it out slowly over here as I see at least a majority of the active participants here getting the hang of things.

thanks saints sir 4 ur kind words, but i am not using old rules from TJ,what i meant was as per new wrb BO rules ,may be i was not clear enough. ANYWAY THANKS & looking forward to next level rules.

rgds

Maxim

Will be pouring it out slowly over here as I see at least a majority of the active participants here getting the hang of things.

thanks and waiting eagerly….