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30 Min Flow

THE 30Min FLOW....................................................................................2


1. Overview.........................................................................................2
2. Time Frame.....................................................................................2
3. Perspective......................................................................................2
4. Filters..............................................................................................2
PIVOTS....................................................................................................2
1. Pure Pivots.......................................................................................3
2. Aggressive Pivots............................................................................3
3. Sideway Pivots................................................................................5
4. Visual Highs / Lows..........................................................................5
TRENDS..................................................................................................6
METHOD.................................................................................................7
1. SARs & the art of Trailing SARs.......................................................8
2. WRBs:..............................................................................................9
3. GAPS.............................................................................................12
4. ADDS.............................................................................................14
5. EOD Reversal................................................................................14
6. Flags..............................................................................................16

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30 Min Flow
THE 30Min FLOW
1. Overview
The central basis of this Method its core is identification of Pure Pivots.
Pivots work beautifully as long as they are there, but only when we dont have pure
pivots we add something more to our concept of pure pivots - these are Aggressive
Pivots, Visual Highs / Lows & Sideway Pivots. Also, we add certain rules for WRBs
and Gap Openings.
The basic tenet of this method is to go with the Flow of the Market. To keep
ourselves out of the trade as much as possible and allow the Market to do all the
hard job and put money into our pockets, with as minimum effort as possible.

2. Time Frame
30 Min Charts

3. Perspective
1) For Initial trades none
2) For Adds We look at daily TF to be aggressive or non-aggressive in our
approach. For deciding the trend on daily TF we go with Pure Pivots only on
the Daily Charts,

4. Filters
1) Reversal Filter (F) = 10: The value we take to reverse a trade in absence of a
gap
2) Add Filter (AF) = 5: The value which we take for our adds (a bit lesser than
normal reversal filter)
3) Gap Filter (GF) = 15: The value (a bit bigger than our normal reversal filter)
we take to reverse our trade when we get a gap opening against our position

PIVOTS
The dictionary defines a pivot as a central point around which something turns. And
these turning points are there all over our charts, making definite Pivot Highs and
Pivot Lows.
Our only criterion will be that these Pivot points should be visibly obvious. It should
be clear cut point. Not something that we must see using microscopes, or magnifying
glasses. Standing away from our computer, we must be able to make out our Pivots
clearly.
Types of Pivots (these are the only types required for understanding in Level 1):
1. Pure Pivots

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30 Min Flow
2. Aggressive Pivots
3. Sideway Pivots
4. Visual Highs / Lows

1. Pure Pivots
Its the most obvious form of Pivot and clearly stands out. Its a point where a
rally changes into decline or a decline changes into rally.

2. Aggressive Pivots
a. AP1: Inside Bar pivot
Consider a scenario where market puts up a rally of 4 5 bullish bars,
and then in the next bar it pauses and price declines a little bit forming
an inside bar. Then in the next bar it resumes its upward journey. The
small decline that we see in that inside bar becomes our Aggressive
Pivot 1. It's the same stuff as decline and rally but happens within 2
bars, basically that up move is strong and we utilize this inside
bar to move our stops. When do we confirm its an aggressive pivot?
When the next bar closes above the new highs. The inside bar is about
moving stops, however, a strong move should precede it.
In case of a downtrend, consider a scenario where market puts of a
decline of 4 -5 bearish bars, and then in the next bar it pauses and
price rises a little bit forming an inside bar. Then in the next bar it
resumes its downward journey. The small rise that we see in that
inside bar becomes our AP1 in the downtrend.

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30 Min Flow

Fig: 2.1 An Inside Bar type Aggressive Pivot in an Uptrend.


b. AP2: This is very similar to AP1, however, instead of forming an Inside
Bar, the bar puts up a new higher high and a higher low (in case of an
uptrend) but closes almost low of that bar, and the next bar keeps
moving up and so on.. Now, this bar that gave us a pause becomes
our Aggressive Pivot Low. Please note that it should be of opposite
colored bar to the trend. Opposite for a downtrend.

Hence, Aggressive pivot is a point where market stops...goes a bit


down or sideways...makes up its mind and again resumes its original
direction, its a little pause in the move.
Pure Pivots are clearly visible. Aggressive pivots are a bit hidden, but
once our eyes are trained they will become visible. The APs are two
bar setups.

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30 Min Flow

Fig: Examples of Aggressive Pivots in a downtrend

3. Sideway Pivots
After a uptrend, when the market goes in a sideways range, the low of that
range is considered as a Pivot Low. Just the opposite for a Downtrend.

4. Visual Highs / Lows


A Visual High is formed when prices move to a new high and falls on itself. And
then a series of Inside bars are formed. After that the price closes visually higher
than its preceding bars, but not making a new High.
Visual Highs are the Highs made after a visual Pivot Low that has its body close
within the previous wick high. Focus is on the body close that lies within a wick
high. Every new high is not a visual high....every new Pivot high is not a visual
High....a Visual High suggests weakening and a possible drop.
Note that if the bar had closed at the bottom...the high remains same... then it
will not be a visual high as a close above previous few bars is must.

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30 Min Flow

Fig 1: The first 3 bars are making Higher Highs. The 7th bar makes a Pivot High.
The 8th bar makes a Pivot Low. The 10th bar makes a high that is higher than the
Pivot High (the 7th bar), but no new highs are made (as in the 3rd bar). Hence,
the low of the 8th bar becomes our Visual Pivot Low. Price moves up and then
forms a small pivot high at 7th bar, and then the 11th bar closes higher. Thats a
visual High.

TRENDS
Its important to get this crystal clear.
An uptrend is made up of Higher Pivots Highs (PH) and higher Pivot Lows (PLs).
Important are the Pivot Lows in an Uptrend. Till the time the Pivot lows hold the
uptrend continues. The moment the market fails to make a new PH the uptrend is
put into question. An uptrend turns into a downtrend when the market breaks the
previous PL ie. it makes a lower low than the previous PL.
Similarly, a downtrend is made up of Lower Pivots Highs (PH) and lower Pivot Lows
(PLs). Important are the Pivot Highs in a Downtrend. Till the time the Pivot Highs
hold the downtrend continues. The moment the market fails to make a new PL the
downtrend is put into question. A downtrend turns into a uptrend when the market
breaks the previous Pivot High ie. it makes a higher high than the previous PH.

METHOD
This is a methodology that involves stop and reverse. Our exit on a position is
therefore our entry in the opposite direction. Our reversal points are therefore
crucial. We do not take profits. This is enter-add-exit-and-reverse method. No profits
off the table. Every exit is therefore our entry point in the next trade .
30 Min flow basically is a method which is relaxed lazy way of trading. We are turning
as per the flow of river (market) no anticipation, no guessing...no super-

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30 Min Flow
aggressive stuff here. We react to markets moves. Our attitude is not one of
grabbing in Flow.......but one of accepting. We take whatever the market gives.

Assume that we are in a Downtrend (made up of a series of Lower PH and Lower


PLs) and we are looking for a reversal point to go Long. We Go Long when the
market fails to make a low lower than the previous PL and goes on to hit our SAR
and breaks the PH on the upside.

Opposite for Going Short. After a series of higher PH and higher PL, when the market
fails to make a new PH, but instead goes on to break the lower PL and hits our SAR,
we got short.

1st entry and we are always in. After the 1st entry we look for Adding (based on Add
Rules), Raising our SAR, or Reversing. We remain always in the Flow where entry on
one side is followed with exit from the other side. (The initial entries / reversals are
always based on pure pivots).

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30 Min Flow

1. SARs & the art of Trailing SARs


1. We put SAR @ the previous pure pivot of the bar which reverses our position.
2. In an Uptrend every time we make new HIGHS over the recent Pivot Highs,
we bring our SAR to the recent Pivot Low.
EXCEPTION: Sometimes, in an uptrend, price makes a higher pivot low and
does not go to make new highs, and instead goes sideways for a period of
time, or pulls back up and forms a clear cut lower high and then falls through.
Stops are therefore still at recent pivot lows as newer highs are not made.
3. In a Downtrend, every time when we make a LOW below the recent Pivot
Lows, we bring our stop to the high of the recent pivot high.
EXCEPTION: Sometimes, in a downtrend, price makes a lower pivot high and
does not go to make new lows, and instead goes sideways for a period of
time, or goes down and forms a clear cut higher low and then rises. Stops are
therefore still at recent pivot highs as newer lows are not made.
4. In both Uptrend and Downtrend we trail stops using PIVOTS. Not only Pure
Pivots but also aggressive pivots, sideway pivots and visual highs / lows are
used to trail our STOPS. Note: Our job is not to catch some tiny little pivot
and reverse. We should not be micro analyzing. The pivots have to be
visually obvious.
A note on Sideways Pivot:
A Sideways move can come within the range of the previous day bar / range or
outside the range (for eg. gap down, a bullish bar, sideways).
When we get tiny pivots in range of a large down bar, best is to ignore them.

Now, this is the area where we can make mistakes. In an uptrend, we are looking at
raising our SARs. And to raise our SAR (except in clear cut visual sideways moves), we
need new highs to raise our SAR.

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30 Min Flow
The chart above has arrows and dots depicting pivots. The arrows are the places where a
higher pivot low was made and new highs were attained making it easy for us to raise
our SAR. The dots are pivot points as well but no new highs were made, and price
retracts, we keep our places of reversal intact till we get a higher pivot low that takes out
a previous pivot high or if the current SAR is triggered.
In the case above SAR was not triggered, a higher pivot low was finally made taking out
a previous pivot high. At this time we moved out SAR to this Pivot Low and once that low
was crossed it is reversal to Short Position for us.

However, if the sideways range is formed after 2-3 days steep fall, then a strong
bullish first bar...then we take high of this sideways move as per the rules.
Note: We can reverse on sideways pivots only when the sideways pattern has
clearly formed. If we are SHORT, we need a strong bearish bar or two then a tight
sideways move of 5-6 bars and then the high of sideways range taken out.
However, in the absence of a clear sideways pattern, unless newer low which is
lower than the lowest low so far in the current ongoing move is made we wont shift
the SAR to lower PH...that is the basic principle of flow trading....
There are times when no pivots are there in the nearby vicinity. This happens esp
during WRBs & GAPS. Therefore we need to bring in other strategies to help when
pivots are not available nearby. We must realize the great potential for great profits
using pivots, we must also know its shortcomings and where it fails so that we can
put a few things together that will help us in most scenarios.

2. WRBs:
WRB is a wide range bar larger than its adjacent bars relative to it's timeframe,
open near it's low and closes near its top in a green/white bar, vice versa for black or
red candle. So if we are trading 30 min flow, we look at last 4-5 days for looking at a
WRB. WRBs are larger size bars larger than the nearby bars, opening and closing at
extremes...almost 2 or more times the nearby bars. so if nearby bars are 10-15
points...WRB will be 40-45 points and above.
Types of WRB:
1) Continuation / Breakout / Breakdown
2) Exhaustion
Maybe on the breakout from a consolidation you may also get a Monster WRB type.
We can see WRB's almost everday, key here is to identify how old is the trend to
identify the possible exhaustion, other wise breakout WRB's are easy to handle.
Although a Breakout WRB comes at the start of a new trend and a continuation WRB
in the middle of a trend, breakout and continuation kind of similar in atleast the way
they are handled.
Say we are in down trend and then a WRB which takes our stops and changes trend
to up and after a sideways consolidation there is a WRB - these both are BreakOut
types. When a WRB happens after a prolonged up or down trend thats a WRB of
exhaustion type. How can we differentiate it: we cannot but make try to visualize
the whole picture to see if that could be an exhaustion.

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30 Min Flow
Both type of WRBs look the same. Considering an uptrend: it opens from lowest and
closes it's high. But depending on where it occurs in the trend defines what type they
are.
i) WRB BREAKOUT:
Here we have higher pivot highs and lows, and then we have a WRB breakout over a
previous pivot high, as always a visually obvious WRB. We are now looking for the
next bar. If the next bar closes below 50% of the previous WRB (Open-Close), we
are reverting to shorts below the low of this next bearish bar. (Note: price must
close below the 50% mark for reversals to happen.) This above pattern is only in
an uptrend. only in WRB Breakouts alone. Not WRB Breakdowns.
This is a 2 bar setup.we need a WRB Breakout + next bar bearish bar closing below
50% of the WRB. Then only does this trigger The above pattern is usually in an

ongoing uptrend creating multiple higher pivot highs and lows and then there comes
this WRB Breakout We are in essence looking out for the WRB Breakout
Failure and to reverse early.
However, If the next bar is a small bullish bar, and the next bar is a doji, then all of the
above is null and void. SAR at the low of the WRB Breakout and we reverse if SAR
triggers.

NOTE: The above pattern is not only in an uptrend, but it cannot be the first WRB
breakout bar after a downtrend.the first WRB that we reverse with ending the
downtrend and triggering off a new uptrend has SAR at low of the WRB bar and
we are not really looking at the next bar reversal.
ii) WRB BREAKDOWN: In WRB Breakdowns, stops at the high of the WRB. No
50% next bar reversals..we reverse only on a break of the high of the WRB.
NOTE: In a case where the uptrend has already been in motion for some time,
successive higher pivot highs and lows........then sets up a WRB after another and
finally culminating in a huge (Monster) WRB , take the 33% mark of that last
bar.......If Price crosses this point, revert to short.
But not so in a downtrend, SAR at the high of the last huge WRB.
If we are getting multiple WRB..... imp to see is WRBs one after another..... we will
move our SAR to 50% point of the rally...... taking open of 1st WRB and close of the
last WRB.... this 50% thing is only for our Long trades and after a move
No need to wait for next bar closing here in case of Monster WRB..... just keep your
SAR @ 33% mark of open and close of this WRB.... and we reverse to shorts after
that 33% down move.. with the high of the previous WRB as the SAR and this is
only for long trades..... for short trades SAR always above our WRB....

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30 Min Flow

WRB Notes:
1. A large bar or WRB...then we have small tiny pivots against the direction of
WRB....DONT reverse. WRB is far more powerful than tiny pivots. After WRB
small corrective movement is possible...not a place to reverse. This is true for
bearish as well as bullish WRB.
2. WRBs - as we already know can initiate a trend, can be seen in the middle of a
trend or finish a trend. We have an uptrend, then a WRB breakout, and then a
bearish bar, and then new highs we raise our SAR to the latest PL.
3. Basically WRB + tiny pivots = ignore pivots
4. We have an uptrend...., then a WRB breakout , and then a bearish bar, new
highs..... so in this case SAR @ low of bearish bar (which becomes our new PL).
But we need to analyze further - Is that Continuation / Breakout WRB? Or a
possible exhaustive one? The scenario described here was for Exhaustive WRB.
Let us take a Breakout WRB from a sideways consolidation...small bars after
that ....then new highs then that pivot breaks. No action from our end. SAR
remains at the low of the WRB. This is same in an Uptrend and a DnTrend.
5. As a general Rule................WRB Rules supercede all other rules
a. Breakout WRB that starts an UPTREND and reverses our position to LONG
-------SAR at low of WRB
b. Breakdown WRB that starts a DOWNTREND and reverses our position to
SHORT -----SAR at high of WRB
c. WRB within an established trend --- can be a sign of possible exhaustion?
i. UPTREND followed by a Exhauastion WRB followed by new highs
of tiny pivots - SAR at latest PL made off tiny pivots
ii. DOWN --- followed by a Exhauastion WRB ----even if new lows are
made off tiny pivots.....SAR remains where it was
(When we were in Longs in an Uptrend and then we have a WRB SAR is moved
to the low of the WRB. When we are in Shorts in a downtrend, and then we have a
WRB .. SAR remains at the previous PH)
6. Hence, on WRB Breakouts / Continuation, we do not act on small pivots being
formed (so that we do not get whipsawed unnecessarily when the trend can still
be on), however, on WRB exhaustion we definitely act on tiny pivots (so that we
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30 Min Flow
can catch the reversals, if any, early). So in case of WRB after sustained up/down
trend, we can take sideways PH/PL or to reverse where as B/O WRB we keep our
SAR at low/high of WRB. The handling of both is different........therefore the
analysis must be accurate we give the Breakout WRB more room to breathe but
not so for the exhaustive WRB.

Fig: How do we react to a Breakout WRB.


7. Ques: How to know that it is exhaustion WRB and not a continuation WRB? How
do we exactly define exhaustive WRB?
Ans: From where that WRB comes in the move. A WRB that sets the trend going
in a new direction (or coming off a sideways consolidation) is a Breakout WRB. If
WRB comes after a sustained move, after 2-3 earlier WRBs... then it could be
exhaustive. First or second WRB in a new trend are continuation WRBs, after that
every WRB is treated as possible exhaustive WRB. Hence we have different set of
rules for Breakout / Continuation WRBs and Exhaustive WRBs.
8. When the 50% of WRB rules comes into picture then? For Monster WRB which is
exhaustive. no 50% rule....no dropping down to smaller tfs in breakout wrb on
Flow30

3. GAPS
i) GAPS AGAINST OUR POSITION:
a) BUT WITHIN OUR SAR:
In this case the Original SAR +/- F remains.
b) BUT BEYOND OUR SAR :
Wait for 1st 15 min bar ( For BNF.. 1st 5 min) to form and reverse with
high / low ( + / - ) GF Gap Filter. However, if the 1st 15 min bar ( 5 min for
BNF) does not get taken out then the Original SAR +/- F remains till the time
a a trigger comes for moving our SAR.

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30 Min Flow
ii) GAPS IN OUR FAVOUR:
Situation: When we are LONG
a) We are Long + continuous up move with a few WRBs ... Now, there is a GAP UP
opening:
Look out for the first 15 min BAR:
- If (First 15 min bar is a BEARISH bar) then
We reverse on First 15min bar low Gap filter and move the SAR at High of 1st 15
min bar H +gap filter when the trade is triggered. If the reversal does not happen
and market continues to go up then the SAR remains at the LOW of 1st 15 min bar
till a new higher PL is established.
- If (First 15 min bar is a BULLISH bar) then
SAR to be moved to previous day's last bar low...
Note: This Gap Rule is for Exhaustive Rule moves, so it has to be a nice Visual Gap.
Also, in case of the 15min bearish bar we have a more aggressive SAR than in the
case of the 15 min bullish bar is to catch a possible Exhaustive move.
Situation: When we are SHORT
a) We are Short + continuous down move with a few WRBs ... Now, there is a GAP
DOWN opening:
Our SAR moved to the previous days last bar high.
Downtrend + Visual gap down + Bullish WRB + Agg Pivot Doji.........long or no
longs?
Bullish WRB with an aggressive pivot is all we need to bring our sar down to the high
of the Bullish Bar. And we revert to Longs in case the high is breached.

4. ADDS
For ADDS in the 30MIN Flow we take the Daily trend in perspective.
1. 30MIN Flow UP
a. DAILY UP: 1 + 2 adds
b. DAILY DOWN: 1 + 1 adds
i. Now if Daily turns UP: we do +1 add
In long position/uptrend, we add only on Visual PH
2. 30MIN Flow DOWN: In short position/downtrend, we can add at Visual /
Aggressive PL as well as in following way:
1) We are short today, next day gap down, we add at first bearish bar low F.

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30 Min Flow
2) WRB low which is just a start of downtrend / move.
3) A WRB on 30 min which is turning an uptrend on daily into downtrend.
a. DAILY DOWN: 1 + 3 adds
b. DAILY UP: 1 + 1 adds
i. Now if Daily turns Down: we do +2 adds
Note: In case the DAILY is RANGEBOUND we do 1 + 1 add irrespective of the
direction of 30min Flow
A) LONGS :....max 3positions(Initial Posn+2 adds)
B) SHORTS :
---Altogether 4 positions in a downtrend(Initial Posn+add1+add 2+add 3)
The only time we do not do the above.......when present trend is against the daily
charts trend....then only Initial Position+1 add
Note: adds.... in longs we take our adds only above pure pivots..... in short trades
we add below agg pivots.... below 1st bearish bar low if we get a gap in favor... and
a wrb low if trend has just started
The reason why when daily up n 30 up we take +2 adds & daily down n 30 down we
take +3 adds because bulls takes stairs and bears jump out of window.
The above is applicable for all scripts.

5. EOD Reversal
EOD reversal is a concept that will allow us to take home the position that is sync
with the current market action. As chances of Gap Opening against us are much
more if we are against the trend, this concept prevents us from taking loosing
position home.
There are two types of EOD Reversals:
1. We are SHORT and we close above the PH (our SAR) but did not trigger LONG
trade because of filters. In this case we reverse to LONGS with only the initial
position. This is same as ignoring the filters for reversal during EOD in case
the SAR is hit but the reversal is being saved by the filter. Vice versa in case
of SHORTS.
Example:

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30 Min Flow

2. When we enter any position (long/short) and at the end of the same day if
market is about to close near the same PH/PL where we entered, then we
do EOD reversal with the initial trade + adds (if any).
Example:

Look at the 13:30 bar in the chart for Jun 11, 2010. Drop below 10am bar of Jun 11
caused us to go short that day. However the day closed over that pivot low. That
calls for reversing the position in the flow back to longs. The decision is made at
3:27PM. It indicates that there is not much strength in the down move so we go back
to our long position and with all adds (if any) that were there before shorting.
Reverse is also true - suppose day starts in short position, price goes over the ph+f
to trigger long, but day closes (measured at 3:27PM to allow for order before closing
time) below that ph, we have to do EOD reversal back to short.

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30 Min Flow
6. Flags
A Flag is made up of lower pivot highs and lower pivot lows within an ongoing up
move. We wait for new highs to raise stops when long and vice versa in shorts. By
waiting for higher highs we eliminate possibility of a flag and hence the chances of
getting whipsawed.
Example 1:

On 19th, GAP Down below the SAR of previous day. Its a visual gap down. As per our
GAP Rule:
GAPS AGAINST OUR SAR : Wait for 1st 15 min bar( For BNF.. 1st 5 min) to form
and reverse with high / low ( + / - ) GF Gap Filter
Hence, we look at the first 15min bar low and short below the first bar low, putting
our SAR at the high of the 1st 15 min bar. We then have a sideways range for the
next 7 bars. Hence, we add below the low of the sidways range. That opportunity
comes at the 2 PM bar. Again we can add below 2 PM WRB. SAR at the high of the 2
PM WRB, carrying Shorts to the next day.
On May 20th, no GAP. 9:30 bar is a PH. After that the market goes to make a 11:30
bar higher PL, and hence as no new lows are made we do not bring our SAR to this
PH. Another PH at 1:30 Bar. Now, the market goes on to make a new low below the
nearest 11:30 PL . Now, we bring our SAR to the high of the 1:30 bar at SAR3 when
the market goes on to make a lower low at 3 PM bar. And we carry Shorts for the
next day with SAR at 1:30 bar high.
And so, the whole of 20th, no trade done. Only SAR moved. No reversal, no adds (as
2 add already done). no adds, no reversals, no nothing that day just move SAR and
yawn ,sleep, chit chat ....nothing else.

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30 Min Flow
Example 2:

Period Start: May 13th


Daily Trend: Down Trend
Nearest Daily PH and SAR: May 10th bar @ 608.08 + f
ADD Aggressive 1 + 3
30 min Flow:
We start from 13th May. We were LONG on the 12th. On 13th it opened above the
previous days range and in our favour. However, we cannot consider it as a Gap Up
as it is hardly a visual gap. Hence, we do not apply the Gap rules here. Price opens
above the high of the earlier PH (2:30 bar of 12th) and hence our SAR is moved to
the low of the 3:30 bar of May 12th as it is the nearest PL (SAR). This is because the
previous PH is broken to the upside.

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30 Min Flow
Till 1:00 Bar the SAR remains at SAR. Although there is a PL formed at 11:00 bar,
yet we do not move the SAR to 11:0 bar low as it does not go to make a high higher
than the earlier PH.
Initial Trade: We go Short during the 1:30 BAR as price breaks SAR to the
downside.
SAR moved to SAR0.1
ADD 1: As 1:30 bar is a WRB we ADD 1 as price breaches the low of WRB af.
SAR is moved to the high of the 1:30 WRB bar at SAR1.1
Carry all positions to the next day with SAR at SAR1.1
ADD 2: A PL is formed at 3:00 pm bar low on 13th. During the 9:30 AM bar on 14th
price breaches the PL and we do ADD 2. SAR is lowered to SAR2.1 - the nearest PHwhich is high of 3:30 PM bar on 13th.
ADD 3: Add 3 is below the 9:30 WRB on 14th. The SAR is brought to the high of WRB
at SAR 3.1
No more ADDS as our quota is already over.
On 17th we have a Gap Down in our Favour and a bearish WRB.
(In case we have a Gap Down in our favour and a Bearish WRB then the SAR will
be brought to the previous days last bar high. (If we were in Longs, it was an
Uptrend SAR at the low of the WRB. In a downtrend, and WRB SAR at previous
PH.....in this case coz of gap as well....last bar high))
17th is then a no trade day as a FLAG is formed after the 9:30 WRB. No new Lows are
formed, nor our SAR at SAR 3.2 is hit.

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