My trades based on "new way of pivot trading" and vwap

[vijkris]

Re: My trades based on "new way of pivot trading" and vwap

That I think is an example of breakout failure when price was originally moving in a sideways range, then it broke, and if a bar closes back in range and then its low is taken out it is a failure.

See for e.g. copper today morning

my opinion

 

[vijkris]

DEFINITION of 'Failed Break'

A price movement through an identified level of support or resistance that does not have enough momentum to maintain its direction. Since the validity of the breakout (or breakdown) is compromised, many traders close their positions and the price fails to make the sharp move that many were expecting.

A failed break is also commonly referred to as a "false breakout".



Failed Break


Read more: Failed Break Definition | Investopedia http://www.investopedia.com/terms/f/failedbreak.asp#ixzz3x2uVYeV4

 

[vivektrader]

Re: My trades based on "new way of pivot trading" and vwap

my opinion

Well bothering you again, just visualise the first candle that broke out of yesterday's night range and then fell back.
I may have got it wrong, I will think about it again.
Thanks for support
Regards
Vivek

 

[vivektrader]

And one more interesting thing, I was reading one of AlBrooks book today, where he says most breakouts fail, and he calls retracement as a failed (breakout) failure, that continues in the direction of breakout.

 

[vijkris]

Re: My trades based on "new way of pivot trading" and vwap

Well bothering you again, just visualise the first candle that broke out of yesterday's night range and then fell back.
I may have got it wrong, I will think about it again.
Thanks for support
Regards
Vivek

u may not be wrong. first bar looks like valid bof . copper wanted to reverse from yesterday's downtrend,so bo of mph happened, but it was rejected within 4 bars.
I had in mind bof happens in sideways only, ur post is eye opener, yet again:clapping:

thanks

 

[vivektrader]

Re: My trades based on "new way of pivot trading" and vwap

u may not be wrong. first bar looks like valid bof . copper wanted to reverse from yesterday's downtrend,so bo of mph happened, but it was rejected within 4 bars.
I had in mind bof happens in sideways only, ur post is eye opener, yet again:clapping:

thanks

Will find out more about this and share with you.
Thanks for you're time, you must be trading mcx, I distracted you.
Keep going buddy, good luck.
Vivek

 

[vijkris]

Re: My trades based on "new way of pivot trading" and vwap

Will find out more about this and share with you.
Thanks for you're time, you must be trading mcx, I distracted you.
Keep going buddy, good luck.
Vivek

not distracted buddy, half knowledge is dangerous. anyway today high volatility. 90 rs sl is not coming in crude. that's y posting nice paper trades.
thanks.

 

[rjshem]

Failure vivek in simple terms if a bar breaks previous pivot high then closes below leaving a big wick that is failure shortbelow that bar sl same bar high like in ts chart.rejection whenever breakout happens then the next bar after breakout bar closes below in red that is rejection short below that red bar sl at breakout bar high.everything in live chart is difficult in beginning with time itll become easy.

 

[vijkris]

vwap entry could have been at previous BD of mpl also.

 

[vijkris]

Failure vivek in simple terms if a bar breaks previous pivot high then closes below leaving a big wick that is failure shortbelow that bar sl same bar high like in ts chart.rejection whenever breakout happens then the next bar after breakout bar closes below in red that is rejection short below that red bar sl at breakout bar high.everything in live chart is difficult in beginning with time itll become easy.

:thumb: hmm... now I see. most of entry arrows in the chart is delayed entry.
Entry can be made immediately, thus shorter SL.no need to wait for mpl formation..
big wick has to be present.
thanks.