Pocket Pivots are described in the book ‘Trade Like an O’Neil Disciple’ of Dr. Chris Kacher and Gil Morales
Actual idea was explained for daily charts ...
I have adopted this to check on hourly charts to find if there is any advantage for short term trading ...
Logic behind this is price should be above 200 ema and consoidating around 10 or 50 ema , ...
VWAP and RSI strategy signaled BUY LONG for TSLA
Last week this strategy closed TSLA for 14 points ... Lets see how it goes now ...
Note : Past Performance Is No Guarantee of Future Results , please do your research ...
I see another signal for BUY Long on RSI VWAP strategy
Last this strategy closed one for 14 points ... Lets see how it goes now ...
Note : Past Performance Is No Guarantee of Future Results , please do your research ...
TSLA bounced on 50 ma support
VWAP and RSI reading pulled below 10 and bouncing up
VWAP and RSI Strategy triggered BUY SIGNAL on HOURLY CHART ...
Let me know what you think about this ...
I have found this strategy to find possible gap ups.
set up
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On Hourly Chart
Plot EMA 200 ( in the above chart it is blue solid line )
Add VWAP , set weekly setting
Add EMA , set period to 9
Change the source of EMA 9 to VWAP
Lets call this ema9 setup as EMA9VW (in the above chart it is purple line)
BUY
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EMA9VW is above ...
I have noticed that some trades missed in VWAP and RSI strategy. To improve the entries and add more you can add divergence indicator and set the source of it to vwap. change the settings to 5 , 3, 3
when the price is trending below 200 line , then look for Divergence indication and buy when price closes above VWAP. In the above screen you see...
RSI of VWAP has been published for Long side entries only. However, it can be used to short the equity. below are the details ...
1. Add VWAP to your chart
2. Add RSI (period 14) (set oversold line to 25 and overbought line to 70)
3. change the source of RSI to VWAP
when the VWAP crosses down to Oversold line at 25 , take the short...
Presently GOOGL is in LONG trade on RSI Divergence Indicator. This long is going to be closed /exit soon , as I see divergence on the RSI overbought area.
Price made new HIGH , but RSI5 is not registering that , BEAR flag comes here ... (not shown yet) ... just watching when that will be shown by the strategy :-)
