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

vivektrader

In persuit of financial independence.
exit @ minor loss on another long wick.

An entry pin bar should stick its tail out of the range (convincingly stick out) and should preferably of the same color as the 'color' of your trade. Pin bars as such are not uncommon, confluent pin bars are rare.
 

vivektrader

In persuit of financial independence.
ya I agree.. no offence but any trade done without following rules is tukka.
I m yet to include pin bar strategy in my rules.
also figured out that bhel and pnb "incidents" could have been avoided if I looked @ wicks.
Dear Vijay, any system we follow, we have to include 'reversal setups' to either exit our position (if we entered with the trend as per our system) or ride/scalp the counter trend itself. Some reversal setups:
Confluent pin bar (although it sometimes appears with trend for e.g. when it appears in a rally in a downtrend)
Bearish/bullish engulfing
Dark cloud cover
Piercing
Morning star
Evening star
Abandoned baby
Harami
 

Blackhole

Well-Known Member
Why are you calling it tukka, a pin bar (which is a confluent pin bar) is a valid trade with good RR ratio.


ya I agree.. no offence but any trade done without following rules is tukka.
I m yet to include pin bar strategy in my rules.
also figured out that bhel and pnb "incidents" could have been avoided if I looked @ wicks.
both are right to certain extend and both r wrong.....i wont be able explain each and every thing ....but yeah PIN bar is a sort of magical pattern but remember it negates itself...what do think of pin bar of 60 minutes on support or resistence?

if u are 15 min chart trader what relevance it makes that u find pin bar on 3 m doing opposite?


i would only treat or take action of pin on higher time frame if needed.

some times even price action lags or shows meaning afterwards.

please do not break rules till do have done enuf study, amend rules for good.
 

vijkris

Learner and Follower


This chart completely describes about where to enter & where to add & what is the Risk as demanded by mr jamit.....
nice one
:thumb:
 

vijkris

Learner and Follower
since I m reading the thread again, posting some useful info:
Dear Prabhsingh

For Breakout to be effective following conditions should be met out.( for uptrend)

1. Breakout out bar should have its previous PH bar in its lower 30% area.

It means its all bullish energy should be spend in making breakout effective, if previous bar is at 70-80% level of breakout bar, its all bullish energy is spent in coming out of that PH, so breakout will be a failure...

2. Breakout bar should be a big range bar.

3.Breakout bar should have great volume indicating a fight between demand & supply there.

4. The breakout bar must open at almost low & end at almost high, indicating demand taking control on supply.

5. There must not be any wick in breakout bar/or very less wick

wick indicates a failure...

6. Wait for next bar, if it close below middle of breakout bar, breakout is a failure..

7.Now wait for a candlestic pattern for a short position, if it closes below the body high of previous PH, good chances of reversal..

8. Take short position in next bar if it opens near the low of first bar....


Support : 1. a stock comes at its previous strong support level & u r in short position book ur 50% position, rest 50% will be covered when we get crack any pivot or any candlestic reversal pattern...

2. We are not concerned with fundamentals at all while analysing a stock technically bcoz it will creat a confusion...

hope it clears....

Your queries are most welcome....
Three bar Reversal strategy:

This is one of the most successful trading pattern.

For Buy:

1.The first candle makes a low.

2.The second candle makes a lower low.

3.The third candle makes a higher low





For Short:

1.The first candle makes a high.
2.The second candle makes a higher high.
3.The third candle makes a lower high.


SAINT SIR EXPALINING ERL & VRL...



In Daily Charts,even if we lose some in allowing Price to Close,best to play the Closes and not the Crosses.........Crosses get better and better as timeframes get shorter and shorter.Closes better on larger tfs.

You will notice that nearly all reversals come on Lines and Pivots play a secondary role only in adds except in a few cases.
just for reference..

We have covered Basic part, Now we come to the strategy part...

This strategy includes a lot of thoughts & ideas of Saint sir & ST sir.

ENTRY:

1.We will look for any candlestic reversal pattern if there.

2.Stock breaks previous HL for short trade

stock breaks previous LH for Long trade

3. On cracking of a pivot above 20 day SMA & moving average is inclined upside for long trade

reverse for short trade.


Adds:

1.on strong Cracking of previous HH in case of uptrend & reverse for downtrend.

2.Confirmation of trend on higher time frame.

3.On wrbs

Exits

1. Partial /full profit booking at the important Resistance/Support levels as the case may be.

2.Any strong candlestic reversal pattern

3. Failure to make new HH/HL or LH/LL as the case may be.

4.WRB EXHAUSTIVE BAR


.
 
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