Re: Saint's Intraday Miniflow - live discussion
seniors plz advise....
do we consider 11.00 bar as WRB....if then should we consider the next bar as resting bar....if then why should we consider lod as SAR or even low of WRB as SAR.... why should`t we put SAR below break of the resting bar to go short....i am confused.....as though i have shorted below low of WRB-sf.....
plz clear my doubt
Raj
Raj, yes you can consider 11:00 bar as WRB.
In following conditions resting bar concept comes:-
(1)When WRB comes as a breakout bar or breakdown bar after sideways congestion or consolidation .
(2)when WRB breaks past PH OR PL.
When these two conditions happens then after WRB we observe the next bar(resting bar) and
(A)if it or next bar(resting bar) closes below the 50% mark of that WRB,we reverse below the low of that bearish bar(resting bar)-sf and If it closes above the 50% mark of that WRB then we reverse below the low of the WRB-sf(when we were already long )
&
(B)if it or next bar(resting bar) closes above the 50% mark of that WRB,we reverse above the high of that bullish bar(resting bar)+sf and If it closes below the 50% mark of that WRB then we reverse above the high of the WRB+sf (when we were already short).
Raj that WRB(11:00 bar) is not breakout bar after sideways congestion or consolidation and that bar(11:00 bar)
didn't pass above any PH so here resting bar concept will not apply.
Hemant
