Pivot Trading- a new way of Trading

Yes for me i have to keep things as simple as possible.also my study of charts warrants the same.

See today chart of tatamotors tatasteel bpcl and other nifty 50 stocks ull understand the imp of trading using previous day high low for intra.

Today sure looks sideways between yesterday range , between yesterday (VPH -VPL ) so no trades for beginers , but is yesterday which visual trend to be taken ? red lines visual sideways trend or light blue uptrendline ?
if sideways trend taken can go long abv visual pivot but long failed ?
if uptrend taken then go long over mph abv vph , but not crossed over mph so no long ? is my understanding correct regarding possible trade taken along with visual trend ?

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

Yeah, it's getting very difficult to trust the pinbars in intraday, even on 10-15 min TF ... Too many whipsaws.

These initial breakdown/breakout failures, if they work, rush towards the 20ema, which is there most probable initial target, otherwise they fail both ways frustratingly, but if one still has some faith left the next trade (short in this case) has high probability to succeed.
Reliance infra is notorious for failing both ways.

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.

TP Ji..if you want to trade Pin bar in intraday, then best to stick with 15 mins for NSE, 1 H for MCX... also don't trade every pin bar, trade only PIN BAR FAILURE AT S/R levels such as PDL, PDH, PDC, floor pivots ( S1, S2, and R1 , R2) etc etc.. those failure pin bars are very powerful , u will get move in rocket speed. while entering in failure PIN bar trade, if trade does not move in a favour in next 3 handles, just get out as SL likely to hit

Thanks a lot Subhadip bro , for spending your valuble time on my queries.
posting some here ,


but when compared to prev month 31 st visual trend is in sideways ,