One of my favorite loadouts is what I call a "Smoke Wind" for the Pyro. His main role is to deflect enemy projectiles back at the enemy and if possible, burn them in the process. I will go over the weapon roles.
Weapons and Roles
The Degreaser: Deflect Projectiles and Enemies that invade your elbow room
The Scorch Shot: Push back far away enemies.
The Axtinguisher: If possible, kill that Spy on your back after setting him ablaze.

Requirements
Smoke Winds need time to predict when an enemy will fire a projectile towards them, and how fast it will travel. To calculate the math, they need plenty of elbow room, thus it is neccesary for a SW to be in Mid or Long range scenarios, if Close Quarters happen, the SW will have to ignite them and Axtinguish them.

Combat Role
The Smoke Wind Pyro is primarily best at Defense. Due to being able to predict enemy fire rates to correctly time your airblast, blow back sticky bombs, and predict the enemies movement.
An Offensive Smoke Winder will die in a heartbeat. Running into battle being close up to everyone, they will not have time to tell when the rocket will fire and when it will hit them.

Pros and Cons

• Pros:Excellent at Mid-Long Ranges and observing movement.
  
• Cons: Can be easily surprized close up and will not be able to guess quickly.
  
  Final Hints
  
• Stay Mid to Long Range.
  
• Dodge the first few projectiles to know when they are fired, and how fast they travel.
  
• Observe the Enemy's movement patterns while dodging. Then when you have a feel, strike back.