Using VWAP on Trend Days

Off late i  started plotting VWAP on NF when ever i see NF making HH-HL, LH-LL 's i.e. in Trending mode.

In my observation VWAP offers good support, coupling with our DP's, specially MSP.. it lets us to enter into trade after a decent pull back happen.

I am attaching today's nifty chart for reference.
Make a note of this, this works well.

Nifty : 07 - Dec - 2017 (0)

Nifty : 18 - Sep - 2017 (0)

Nifty : 09 - Sep - 2017 (-4)

Nifty : 07 - Sep - 2017 (-15)

Market Commentary:

9:29 AM : Gap up and price resisted at 2 day’s high 9982. Will see if range forms and look for BOF of RL signal as long as price sustain above PDH

9:35 AM : IR - 9982-58.

               

9:40 AM : Potential Trades :

Staying above 9955 (PDH) → 9982 (IRH / DH) , 10K (BRN), 10015 (SR)

Staying below 9955 (PDH) → 9944 (VAH / PDC), 9932 (POC / VWAP), 9920 (VAL), 9910(PDL)

11:30 pm : Trade 1 : BPB of PDH short at 9952 with Initial SL 9960, FTA 8 points away. Will have to scratch if doesn't move.

11:35 PM: Exited with loss of 10 points

12:20 PM : Seems nifty forming BW around PDH; will stay away till better signal visible

13:35 PM : Drawn BW as range now. Will see PA after broking range on either side

13:55 PM : Trade 2 : BPB of range high long at 9965 with Initial SL 9957, FTA DH 17 points away. Placed order when price respected Intra VWAP and forming high close bull candle with lower tail.

14:10 PM : Exited with loss of 5 points (scratched below VWAP and after seeing price rejected from earlier swing)

14: 22 PM : 2 SL’s in a row. Done for today.

Points Earned :: -15

Nifty : 06 - Sep - 2017 (-7)

Market Commentary:

10:15 AM : Gap down and IR formed around PDL 9928-9910.

10:22 AM : Potential trades

Above 9932 (DH / VAL) → 9950 (POC), 9955 (VWAP), 9968 (VAH) , 9980 (PDH)

Below 9910 (DL / IRL) → 9900 (BRN), 9885 (SS), 9826 (SS)

11:38 AM : Trade 1 : BPB of DH/VAL long at 9934 with Initial SL 9929, FTA 9950 (POC / RN) 16 points away. Good risk:reward

11:45 AM : Exited with loss of 7 points

14:35 PM : Messy PA today; not comfortable with any signals. Calling it a day

Points Earned :: -7

Nifty : 05 - Sep - 2017 (-4)

Market Commentary:

9:29 AM : Small gapup, DO is at closing RH 9940 and price sustained above DO and crossed VAH - 9945

10:05 AM : Price struck in narrow range now 9968-58.

10:28 AM : Trade 1 : BOF of Narrow range long at 9960 with Initial SL at 9952 (below VWAP and PB low). Entered half quantity only, will add more once NF sustain above DH

10:35 AM : 9975 NF / 9950 NS are levels acted as flip before fall in yesterday session. Will look to add more position if price sustain above

11:30 AM : Exited with loss of 4 points

11:35 AM : Extended range as 9968-52. Bias is bullish as range formed above yesterday closing range, PDC, DO. Will see if BOF of RL signal comes and look for entry above VWAP

12:19 PM : NF moved in reverse direction; sharp fall after breaking 9950. Moved till PDC/POC as of now

13:05 PM : Placed short order at 9943 as TST/FTC of 9950 level, which was earlier narrow range’s low which produced sharp fall.. Now acting as resistance. Placed order entry below Intra VWAP

13:20 PM : Cancelled order as price back into morning’s range

15:05 PM : Closing the day;

Points Earned :: - 4