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#TRADING Intraday Trading Setup 2 : Pivot - VWAP setup
1) Time frame 5 min
2) Plot Camarilla Pivot H3 / S3 and Floor pivot range (Central pivot, upper and lower pivot).
3) Plot VWAP.
4) Plot 8/21/34 Pivot emas.
1) Time frame 5 min
2) Plot Camarilla Pivot H3 / S3 and Floor pivot range (Central pivot, upper and lower pivot).
3) Plot VWAP.
4) Plot 8/21/34 Pivot emas.
5) Long conditions - VWAP should cross both Cam H3 and Upper floor pivot.
6) Entry at a bullish candle at the point of previous candle high post first pull back in between 8 and 21 pivot ema or VWAP.
7) Stop at 34 pivot ema or VWAP. Position size varies accordingly.
6) Entry at a bullish candle at the point of previous candle high post first pull back in between 8 and 21 pivot ema or VWAP.
7) Stop at 34 pivot ema or VWAP. Position size varies accordingly.
Advantages of this setup :
You are in the trade after confirming the direction of the average market participants which is assessed by VWAP / Pivot combination.
This setup captures the move predominantly at the early part of the day.
You are in the trade after confirming the direction of the average market participants which is assessed by VWAP / Pivot combination.
This setup captures the move predominantly at the early part of the day.
Disadvantages of this setup:
Entry will be slightly lagged as VWAP breakout usually happens post price breakout in a trending market.
Fails to capture the post lunch moves as there will not be much time left to capitalise on the move because of the above reason.
Entry will be slightly lagged as VWAP breakout usually happens post price breakout in a trending market.
Fails to capture the post lunch moves as there will not be much time left to capitalise on the move because of the above reason.
Both good trades and failed trade charts posted.
REMEMBER : 34 PERIOD PIVOT EMA IS YOUR DEFENCE AT ANY COST.
REMEMBER : 34 PERIOD PIVOT EMA IS YOUR DEFENCE AT ANY COST.
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