Pivot Trading- a new way of Trading

fnoQ

Active Member
so finally as beginner , if daily in uptrend , then watching for hourly charts if rally in hourly , then go long abv 3 rd bar high - in 5 in chart taken over rally with mpl as SL . :thumb: . comfortable with this simple way and going to watch in this perspective .
 

Subhadip

Well-Known Member
Keep everything simple.

For beginning do not go for counter trend.

First learn trend.

So when visual trend up. Just do not short any where. When in confusion get out.

In beginning one approach should be to get long in every opportunity when visual trend is uptrend.

Reverse is also true.

Where in start we fail is when we want to short in every opportunity when in good visual up trend.
 

fnoQ

Active Member
Keep everything simple.

For beginning do not go for counter trend.

First learn trend.

So when visual trend up. Just do not short any where. When in confusion get out.

In beginning one approach should be to get long in every opportunity when visual trend is uptrend.

Reverse is also true.

Where in start we fail is when we want to short in every opportunity when in good visual up trend.
Ok bro , watching now for opportunities as told ,:thumb:
 

PreSap

Well-Known Member
Hello rjshem sir,

I intended to ask about Tata Motors yesterday but couldn't find time.



In the chart above was there a long entry initially(above first 5 min candle - breakout failure) as per system?

I hope the short entry is correct.

I am starting to realise the point you made about PDH and PDL. :)

Thank you

He marked it elsewhere, http://ibb.co/jwu4Lk
Regarding your first question, yes first bar is a breakdown failure that itself failed (both shorts and longs trapped here) so the next short that arrived is high probability.


Vivek


Draw a line from next bullish bar open price ie next to bearish bar pdl low marked bar that is erl the first bar need to be above it for longs not there here .anyways these kind of first bar entries only after u have gained more experience for now stick to pivot above below. S watch more and more charts ull understand things better and charts will start speaking to u if u still doubt it ask niftytaurus .all the best keep going.
Updated after inputs

 

PreSap

Well-Known Member
Questions on the last trading day for Yes Bank:



A. Price opens in previous day's range and makes a high above PDH in the first candle. This forms a pivot and a break of this should be a long entry(on C5), correct?

Price doesn't break out above PDH. By candle 8(C8 on chart), do we say its a breakout failure since it closes below PDH? Does this also mean we can take a short below the break of C8? If not, do we wait for price to close below ERL (Callout 2) and then go short at Callout 3?

B. Or do we look at low of candle C1 and high of C5 and say price is moving sideways and stay out of trade?


Sorry for the long winded question. :eek:

Thank you :)
 

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