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Attachments: Open Trade near Pivot line (Pivot Point)
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Open Trade near Pivot line (Pivot Point)

  • Post #1
  • Quote
  • First Post: Jan 8, 2009 4:30am Jan 8, 2009 4:30am
  •  Pierce
  • | Joined Apr 2008 | Status: Member | 69 Posts
Hello,
I have problems in entering a position near pivot line.

Cause often a reversal occurs.

Is there anything to support my decision in entering or not entering?
  • Post #2
  • Quote
  • Jan 8, 2009 1:57pm Jan 8, 2009 1:57pm
  •  ForexRookie
  • | Joined Apr 2008 | Status: Member | 409 Posts
Quoting Pierce
Disliked
Hello,
I have problems in entering a position near pivot line.

Cause often a reversal occurs.

Is there anything to support my decision in entering or not entering?
Ignored
I have got a suggestion for you:

Lets say the trend is upwards. There is a bounce near to or off the pivot line. Place your order entry about 5 to 10 pips from the line when going long. With the Stop Loss behind the pivot point.

To support your decision use an indicator which is telling you the dominant trend.
"The trend is your friend, until the end."
 
 
  • Post #3
  • Quote
  • Jan 8, 2009 3:44pm Jan 8, 2009 3:44pm
  •  Pierce
  • | Joined Apr 2008 | Status: Member | 69 Posts
Good hint, thank you.

 
 
  • Post #4
  • Quote
  • Jan 8, 2009 7:42pm Jan 8, 2009 7:42pm
  •  JR97
  • Joined Apr 2004 | Status: #slack pricetimeforecast | 1,928 Posts
You didn't say which pivot and which direction. I typically look for trades at the extreme pivots and look to trade in the direction of the central pivot. Especially if a high or low for the day has occured. Wait for a candle or bar close once price has hit or fallen through a pivot. Also, look for larger patterns at play by drawing trend lines and looking at other signs of support/resistance.
 
 
  • Post #5
  • Quote
  • Jan 9, 2009 5:29am Jan 9, 2009 5:29am
  •  Pierce
  • | Joined Apr 2008 | Status: Member | 69 Posts
I was talking about the central pivot.
 
 
  • Post #6
  • Quote
  • Jan 9, 2009 11:34am Jan 9, 2009 11:34am
  •  JR97
  • Joined Apr 2004 | Status: #slack pricetimeforecast | 1,928 Posts
The only way I'd ever trade the central pivot is if price had already established a pattern of either bouncing between pivot lines or there was an established trend from the extreme pivots and then trade in the direction of the trend if there is still room on larger support/resistance. Taking pivots as automatic reversal zones is a dangerous prospect. Especially the central pivot.
 
 
  • Post #7
  • Quote
  • Jan 12, 2009 3:55am Jan 12, 2009 3:55am
  •  Pierce
  • | Joined Apr 2008 | Status: Member | 69 Posts
Thanks for your post.
 
 
  • Post #8
  • Quote
  • Aug 17, 2009 10:29am Aug 17, 2009 10:29am
  •  piprac
  • | Joined Nov 2007 | Status: Member | 779 Posts
I'm new to the whole PP strategy and have two questions:

Do you trade any particular pair(s)?

And what TF do you watch and what TF do you enter (same)?

I was following "Pivots Specifically" in the Discussion section but I would like to see more pairs and find that your using the extremes and then trading back to the PP makes a lot of sense. I would just like a bit more info as to entries. Thank you for posting, p.
 
 
  • Post #9
  • Quote
  • Aug 31, 2009 3:38am Aug 31, 2009 3:38am
  •  syfx
  • | Joined Apr 2009 | Status: Clarity | 57 Posts
Quoting Pierce
Disliked
Hello,
I have problems in entering a position near pivot line.

Cause often a reversal occurs.

Is there anything to support my decision in entering or not entering?
Ignored
observe price action around pivot levels. if price breaks past a pivot level by a few pips, say S1 and closes above S1, i wait for the next candle to form and form a swing low. i then open a long position when price moves three pips away from that swing low with initial stop set two or three pips below the swing low. for short positions, simply do the opposite.

sometimes price will fail to touch the pivot levels then form a swing hi/low pattern. if i am looking to go long, wait for price to form a higher swing low; if looking to go short, i wait for a lower swing hi, then open a position when price moves three pips in my favor. initial stop, again is set two or three pips above/below this recent swing pattern.

not all trades are winners. each time i get stopped out is a great opportunity to learn how i can do better next time.

hope this helps!
 
 
  • Post #10
  • Quote
  • Jan 18, 2010 5:17pm Jan 18, 2010 5:17pm
  •  kingfisher
  • | Joined Oct 2009 | Status: Member | 1,192 Posts
Sometimes pivot gives false singals..be careful
 
 
  • Post #11
  • Quote
  • Jan 19, 2010 6:15am Jan 19, 2010 6:15am
  •  orochimaru
  • | Joined Dec 2009 | Status: Member | 14 Posts
if you are trading on 1hr chart then try to put pivot points on 3hr char . this will let you make good decisions on 1hr chart
 
 
  • Post #12
  • Quote
  • Sep 30, 2019 11:29pm Sep 30, 2019 11:29pm
  •  YardleyRoset
  • | Joined Sep 2019 | Status: Member | 11 Posts
I would recommend using Fibonacci Pivot Points, and Hull Moving Averages (300)...
Here's my example:
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  • Post #13
  • Quote
  • Oct 5, 2019 12:38pm Oct 5, 2019 12:38pm
  •  Darkseeker
  • | Additional Username | Joined Jul 2019 | 79 Posts
Pivot lines are very important, that’s a psychological effect of round number on human brain. Not only in online trading, but these numbers have great power in ordinary businesses too. Around these numbers a lot of activities will happen so you normally don’t know what will happen. Will the price break that level or will it fall back? Who knows? You shouldn’t try and foresee the outcome. Just follow the movement. It’s like trading the news. During news you see big price movements. You can stay out of it so that these moves turn to a clear trend and then you enter it with lower risk.
 
 
  • Post #14
  • Quote
  • Jul 27, 2021 1:15am Jul 27, 2021 1:15am
  •  anthon25
  • Joined Jan 2015 | Status: Empire aint built just in one day | 455 Posts
Quoting Pierce
Disliked
Hello, I have problems in entering a position near pivot line. Cause often a reversal occurs. Is there anything to support my decision in entering or not entering?
Ignored
This could be your answer?? https://www.forexfactory.com/thread/...ort-resistance
I am completely a lazy Trader & Pennies Rebate Hunter
 
1
  • Post #15
  • Quote
  • Last Post: Edited at 2:43am Jul 27, 2021 2:28am | Edited at 2:43am
  •  scsstnt
  • Joined Aug 2018 | Status: Member | 1,392 Posts
Quoting Pierce
Disliked
Hello, I have problems in entering a position near pivot line. Cause often a reversal occurs. Is there anything to support my decision in entering or not entering?
Ignored
QUESTION: Why are you opening a trade near a pivot point? There is no question 2 :-)

Are you referring to daily or weekly pivot points? You need confluence,with no indicators,use candlestick patterns and navigate your path.NEVER decorate the chart with indicators my friend,this is not art & craft class,unless you decide to demo trade all your life and not feel the real deal with LIVE trading.A simple pattern bearish and bullish engulfing pattern is most profitable and possibly that's all you need.I will explain with some charts as I get more time.

GREY dotted lines on my chart are the Daily Pivot Points

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