Pivot Trading- a new way of Trading

[kainiteh]

May be this is bit off topic, Till I learnt about fractal
I was very confused about counting Elliot waves
but when rule of fractals are simple so now I am better
in counting the waves since most of waves turns with
fractal

There are simple to complex fractal and highest or lowest
levels make MPH or MPL... as far as I am concern

 

[kiran_thiru]

Dear Subhadip,

Do we have none, one or two pivots in this . It is today's nifty futures.

as per my trading when day started with big candle like this, i would mark both mph & mpl on that bar. because the bar made big high and low also. after that bar all four bars are inside bars. then if price broke high or low i will follow those as per our pivot setup rules.

if it continues it's uptrend as per the image when the marked mph broke i will check if it suits my RR then i will take long. if it fails it's uptrend and broke low then i will take short if RR permits.

Shubhdip sir and seniors pls give views of my opinion.

thank you.

 

[nifty trade]

15 min nifty markings of vp"s are ok ?

 

[Subhadip]

Looking at it EOD, I think bar 6 makes both a mph and an mpl. THe question now for me is, is bar 4 high a mph? Subhadip please...

No...Inside bar

 

[Subhadip]

..Changing my view. As bar 6 open is gap up, means rally continues. Even decline is not yet started as none of the bar goes below bar 6. So I think, there is no mph, mpl. Rally still continues...Subhadip please clarify.

Right..just a pause of Rally

 

[Subhadip]

15 min nifty markings of vp"s are ok ?

Wait, we will come to it...

Till now we have only discussed only Rally & Decline & Minor pivots..

 

[Subhadip]

Now just a recap: using a opposite perspective:

Lower highs and lower lows- signifies Decline.

A series of lower mPH & lower mPL signifies a minor down trend.

Inside bar will not confirm the end of decline- have to wait for confirmation Break out of the bar high.

Inside bar - may be part of decline.

 

[Subhadip]

If any out side bar- no confirmation of end of Decline- same in line of Inside bar.

If Gap up- confirms a Rally, accordingly mPL will form.

 

[Subhadip]

Just understand one thing:

when Rally meets decline - it is Pivot.

Now the trend decide , if it is minor pivot or visual pivot or major pivot.


A series of higher minor pivot high and higher minor pivot low - makes a minor uptrend.

A series of lower minor pivot high and lower minor pivot low- makes minor down trend.

Meeting point of minor uptrend and minor down trend makes the Visual pivot.

 

[Subhadip]

Hope this post does not create any controversies.

My view of trading,

Just one setup is more than sufficient to earn a hell lot of money with a great mind set up along with an excellent Money management skill.

But you have to be consistent.

Another point is: chart reading is easy, identification of trend is easy. The problem starts when market is in sideways. So do not know when to go long and when to go short.

Learn when NOT to trade.

That is enough for your life.