My trades based on "new way of pivot trading" and vwap
Just copying the long version of the explanation here so that i can replace it with a shorter version in that thread.
Since no one has put up a consolidated summary, i am attempting to summarise the method. Thanks to chavanms as well for digging out important posts. :thumb:
If any mistakes in interpretation is found please inform at the earliest, as there is 24 hour period where i can edit/delete the post.
Thanks
Introduction :
It is a trend trading method which uses price and On Balance Volume indicator.
Tools required :
1. Price chart- candles/bar/line chart.
2. EMA on Price : 200EMA and 36 EMA both are compulsory.
3. OBV indicator in separate pane.
4. 200EMA overlayed on OBV is compulsory.
5. 36 EMA overlayed on OBV is optional.
Timeframe : 1 min only.
Basic Principle : Ok, According to VarunKochar ji, we have to be on the dominant side always while trading.
So EMA 200 on PRICE and EMA 200 on OBV is that border which decides which side is dominating.
We are mere followers, not leaders. So simply we will change our loyalty according to the situation.
IF price and obv is above 200 ema, All Hail bull brothers !!!
No matter what, we will wait for long opportunity or else SOH.
IF price and OBV is below ema 200, bear brothers ki Jai Ho!!!
No matter what, we will wait for SHORT opportunity or else SOH.
36ema :
36 ema overlaid on price is compulsory, as it gives us adds/reentry or profit taking levels.
36ema overlaid on OBV is optional. It can be used only when there is established trend and 200 ema is far away.
Entry Setup : Valid for both long and short.
1. OBV crossed 200 ema. Price also crossed 200 ema .
Both crosses can happen simultaneously or there may be delay, but wait for both to come in the same side.
2. Buy : Last/recent pivot break above 36 ema. i mean the previous pivot should have formed above 36 ema.
SL = Last pivot low below 36 ema..
Target = Since this entry happens in good trending scenario, atleast keep 1:2 or use trailing stop method.
3. Short: Last/recent pivot break below 36 ema. I mean the previous pivot should have formed below 36 ema.
SL = Last pivot high above 36 ema.
Target = Since this entry happens in good trending scenario, atleast keep 1:2 or use trailing stop method.
Note: Sometimes 200 ema is not touched for days even in 1tf. So at that time, only 36 ema is used for entry.
2nd Best entry setup: Sometimes it does happen that in pivot break above/below 36 ema has already happened but price and obv comes to one side later.
At that time usually vertical bars can be seen.
So instead of chasing the price, wait for "aggressive pivot" to form or wait for pullback to 36 ema and enter at pivot break above/below 36 ema.
SL, target is same as above.
Re-entry/add: When price touches or crosses above/below 36 ema and crossses back up above the last pivot high/low before making the touch.
Conclusion : No method is perfect. Each one has its own strengths and weaknesses.
In case of reversal or tuk tuk, it is prone to whipsaws..
Key to survival is Large capital and robust risk management. (Xitija ji's viewpoint)
Thanks for reading !!
( I think i am missing some points, if anyone can figure it out, pls post it)
Since no one has put up a consolidated summary, i am attempting to summarise the method. Thanks to chavanms as well for digging out important posts. :thumb:
If any mistakes in interpretation is found please inform at the earliest, as there is 24 hour period where i can edit/delete the post.
Thanks
Introduction :
It is a trend trading method which uses price and On Balance Volume indicator.
Tools required :
1. Price chart- candles/bar/line chart.
2. EMA on Price : 200EMA and 36 EMA both are compulsory.
3. OBV indicator in separate pane.
4. 200EMA overlayed on OBV is compulsory.
5. 36 EMA overlayed on OBV is optional.
Timeframe : 1 min only.
Basic Principle : Ok, According to VarunKochar ji, we have to be on the dominant side always while trading.
So EMA 200 on PRICE and EMA 200 on OBV is that border which decides which side is dominating.
We are mere followers, not leaders. So simply we will change our loyalty according to the situation.
IF price and obv is above 200 ema, All Hail bull brothers !!!
No matter what, we will wait for long opportunity or else SOH.
IF price and OBV is below ema 200, bear brothers ki Jai Ho!!!
No matter what, we will wait for SHORT opportunity or else SOH.
36ema :
36 ema overlaid on price is compulsory, as it gives us adds/reentry or profit taking levels.
36ema overlaid on OBV is optional. It can be used only when there is established trend and 200 ema is far away.
Entry Setup : Valid for both long and short.
1. OBV crossed 200 ema. Price also crossed 200 ema .
Both crosses can happen simultaneously or there may be delay, but wait for both to come in the same side.
2. Buy : Last/recent pivot break above 36 ema. i mean the previous pivot should have formed above 36 ema.
SL = Last pivot low below 36 ema..
Target = Since this entry happens in good trending scenario, atleast keep 1:2 or use trailing stop method.
3. Short: Last/recent pivot break below 36 ema. I mean the previous pivot should have formed below 36 ema.
SL = Last pivot high above 36 ema.
Target = Since this entry happens in good trending scenario, atleast keep 1:2 or use trailing stop method.
Note: Sometimes 200 ema is not touched for days even in 1tf. So at that time, only 36 ema is used for entry.
2nd Best entry setup: Sometimes it does happen that in pivot break above/below 36 ema has already happened but price and obv comes to one side later.
At that time usually vertical bars can be seen.
So instead of chasing the price, wait for "aggressive pivot" to form or wait for pullback to 36 ema and enter at pivot break above/below 36 ema.
SL, target is same as above.
Re-entry/add: When price touches or crosses above/below 36 ema and crossses back up above the last pivot high/low before making the touch.
Conclusion : No method is perfect. Each one has its own strengths and weaknesses.
In case of reversal or tuk tuk, it is prone to whipsaws..
Key to survival is Large capital and robust risk management. (Xitija ji's viewpoint)
Thanks for reading !!
( I think i am missing some points, if anyone can figure it out, pls post it)
Hello Vijay
Along with this, try using S/R levels
Can use previous day/week HLC, Floor/CAM Pivots, MP Levels (PoC etc), BRNs, Demark SR, etc
Happy
Along with this, try using S/R levels
Can use previous day/week HLC, Floor/CAM Pivots, MP Levels (PoC etc), BRNs, Demark SR, etc
Happy
I use only yday high/low and 30min/1hr opening range as S&R level.
Btw this system needs lot of patience as even in 1 min tf, 200 ema is touched 3,4 times only...
Last edited:
So far Hindalco is the only right candidate I found for this method.
Baaki isme whips deta hai like it crosses the obv-200ema and reversing or staying there for a very long time and resuming its previous trend.
Hindaco kaafi trendy nature wala hai isliye I take initial position with 2500Q+add of 2000Q+then 1500Q.If it sustains I am adding 1000Q more.
Its future lot is 3500,so we wont get freedom to control minimum risk-max profit.
Baaki isme whips deta hai like it crosses the obv-200ema and reversing or staying there for a very long time and resuming its previous trend.
Hindaco kaafi trendy nature wala hai isliye I take initial position with 2500Q+add of 2000Q+then 1500Q.If it sustains I am adding 1000Q more.
Its future lot is 3500,so we wont get freedom to control minimum risk-max profit.
| Thread starter | Similar threads | Forum | Replies | Date |
|---|---|---|---|---|
| G | My trades based on Trade Hunter's 315 EMA Crossover | Technical Analysis | 0 | |
| R | CRUDE MINI intra day trades based on 5 min chart | Trading Diary | 48 | |
| R | Crudeoil Intradday Trades based on GANN Square 9 Strategy | Energy | 802 | |
| R | Trades based on EOD charts... | Position Trading | 8 | |
|
315 Trades - based on SH 315 System | Technical Analysis | 131 |
Similar threads
-
My trades based on Trade Hunter's 315 EMA Crossover
- Started by gb83930
- Replies: 0
-
-
-
-