Sunil,
Thanks for these charts.. Helps people like myself understand the reversal funda more clearly.. Frankly, I did try going thru saint's mentions of reversals, but seeing these 2 examples on live trades gives a lot more idea of how one should ideally proceed..
I have observed that while going for a pivot on only 15min TF is not enough (3/11), but having a pivot on even 15 & 20 min gives a lot of info.. In the above case, since the pivots were formed on both 15 & 20, with 30 min looking a lot like an agressive pivot, aka turning point, i would have taken it as a reversal point..
Next thing I am planning to backtest is to see if it is prudent to not take the first trade, but take it only if there is an add on that trade on either wrb breakdown or on a pivot breakdown.. I do not have any stats, but it looks like that this would be a profitable tweak for the system during volatile times like these days, when market is not moving in a single direction thru the day..
-- no1lives4ever
Thanks for these charts.. Helps people like myself understand the reversal funda more clearly.. Frankly, I did try going thru saint's mentions of reversals, but seeing these 2 examples on live trades gives a lot more idea of how one should ideally proceed..
I have observed that while going for a pivot on only 15min TF is not enough (3/11), but having a pivot on even 15 & 20 min gives a lot of info.. In the above case, since the pivots were formed on both 15 & 20, with 30 min looking a lot like an agressive pivot, aka turning point, i would have taken it as a reversal point..
Next thing I am planning to backtest is to see if it is prudent to not take the first trade, but take it only if there is an add on that trade on either wrb breakdown or on a pivot breakdown.. I do not have any stats, but it looks like that this would be a profitable tweak for the system during volatile times like these days, when market is not moving in a single direction thru the day..
-- no1lives4ever