VWAP starting with day open candle is quite popular
Try #VWAP with period for change where period equal to number of bars in trading day. Acts as magnet for Intraday Mean Reversion moves
Exibit- Banknifty of last 2 days
More from Zafar Shaikh
Lot Of People Requested For An Example Of Trend & Pullback System For Directional Trading System Which I Mentioned in Below Tweet. Hence a #Thread.
Simple #System I Follow In Trading:— Zafar Shaikh (@InvesysCapital) August 20, 2018
1. Strong #Trend On Higher Timframe
2. #PullBack On Current TimeFrame Against Trend
3. #Contraction Of #Volatility During Pullback
4. #Resumption Of Trend On Lower Time Frame
Gives 60-70% Win Rate & 2:1 Reward Risk#Simple Things #Work
I Use Various Combinations Of Time Frame for Trading / Investing. Generally, Time Frame Selected Decides Holding Period Of Trade. For Investment, Quarterly, Monthly & Weekly Time Frames Are Used, Where Holding Period is Few Months To Years.
Most People Are Generally Interested in Short Term Trading. Hence, Illustrating One System Which I Use For Short Term Stock Futures Trading. Holding Period For These Trades is 2-5 Days. This Example is of Gail Futures Where Taken Long Position Today. Here We Go:-
Stock Futures Swing Trading Sysem
Time Frames Used :-
Weekly - Stock Selection
Daily - Pullback
Intraday (75Min) - Volatility & Entry Signal
#StockSelection - GAIL Is Trading Near All Time High. Strong Up Trend. No Brainer. We Can Use RSI To Check Strength. RSI Above 60 is Generally Strong Trend.
System says don't buy the dip
Wait for dip of dip of dip at 30500 #Banknifty & 15000 #Nifty
#Banknifty 33900-34100 zone has provided Support & bounce multiple times in last 12 months.— Zafar Shaikh (@InvesysCapital) May 8, 2022
Watch this level carefully in current week. If 33900 goes, would open up big downside towards 30500 in May series ( Which is confluence of multiple support & AVWAP from Mar20 lows) pic.twitter.com/B7KUNkVVSE
The Complete #Trading #Process
1) Stock Selection - Buy Strongest, Sell Weakest. Combine Higher TimeFrame to Identify Strength/ Weakness
2) Entry SetUp - Enough FirePower for Sustainable Trend Going Forward (1/n)
3)Trend Confirmation - That Point from which chances of Reversal are Low so as to achieve Higher Win Rate
4) Low Risk Entry - Costs Saved in Execution are added back to profit. Use Mkt Fluctuations in Our Favour (2/n)
5) Initial SL- Uncle Point. Not Too Tight, Not Too Loose, Just About Perfect. Let the trade breath before leaping forward
6) Trailing SL - Reduce Open Risk in Trade Continuously Simultaneously allowing Trend to Develop (3/n)
7) Profit Booking - Don't Look for Top/ Bottom. Catch 70-80% of Max Profit. Most Difficult Decision. No Perfect Exit. Break in Multiple Exits. Be happy with Whatever We Get (n/n)
VIX spikes above 30 are common but print above 45 have marked major bottoms
VIX at 33 today, yet to get there
#SPX AVWAP from pre pandemic High & Pandemic low around 3866-3780 . That's like 6-8% more from here and should provide launchpad for fierce bounce. Tough May & next 2-3 weeks though.
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