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

Use of Volume was recommended by few friends here, so was working on it and suddenly one dear friend recommended the use of OBV = On Balance Volume indicator.

Today, tried to incorporate it along with my price action analysis.
My chart is already full of lines, so can't afford any more lines or panes. So converted the OBV in the form of ribbon.

Prima facia, it looks like a good reversal tool, as well as trend confirmation tool. :thumb:

How about also looking at Intraday OBV


Happy

Would Intraday OBV co-relate with bullish/bearish sentiment...

Thanks

So the holiday time was invested in bar replay of intraday obv histogram.
Top pane is 200ema, middle one is 34 ema.

1. Majority of the time, big move has taken place when both are of same colour.

2. Use of pivots is necessary as it is the basic foundation of price, whereas obv is basic foundation of volume analysis. I don have idea of volume profile, Market profile, TPO etc., so cant comment on their uses when compared to OBV.

3. 1:2 is achieved lot of times.

4. Checked only 2min tf, so can't comment on other tfs.

5. Few moves are missed as 200 ema takes time to reverse.

The above post was not directed to me, but will say that i plan to forward test the above Scalping technique from Monday onwards. :thumb:

Scalping...umm,yummy,I like this word :lol:

Why dont you go for option?any reason?

like se kaam nahi chalega.... deep love karna padega...

As of now not interested in options, due to lack of knowledge.
Also it needs proper datafeed with good backfill. I have not invested in authorised datafeed yet.

vijay bhai , what about tracking top gainers stocks on updays and top losers on down days instead of fixed scrips , from nse or moneycontrol site?

Most probably my 1st and last trade for today. Had to do upvaas whole day as stomach was rejecting everything. Puked out 4 litres of water as well.

Anyway now it seems stomach ne maaf kar diya and it is accepting fruit juices.
I am just speculating the cause of my stomach disturbance:
Yday i was having dinner infront of pc, and throughout that period saw some hot videos in YOUTUBE.. Pls don't think otherwise it was not bad xxx stuff.
Still it was enough to "divert the blood flow". instead of stomach to the "other" place.
Thus half food digested, rest came out along with crucial salts..

Whatever may be the cause, Itna samajh aaya ki Khana khate vakt brahmacharya ka palan karna chahiye.



I was supposed to add two obv to vwap afl but couldn do..Evem pivots are not marked in the chart still entered the setup late but got lucky. almost 1:1.8 achieved.

Another mistake i did was not calculating properly the position size, was supposed to risk 0.8, 5 rs was sl.. Instead of 3 lots bought only 1 lot...:annoyed:

anyway +0.5% on this trade.. :thumb:

chart of Bhusalsteel equity today 10% up in first 1/2 hour :lol: