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Pivot Trading

One more week.. This week .. I missed some good trade setup.. but its ok will see next week..
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today is correction day. focus is on usd. imo: classic pump and dump again on eurusd. my bias is short eur.
if they dump it I buy some
look weekly chart, 12 down candles
possible target: monthly pivot at 1.064x (around next weeks r78)
Muni loves you all!
Hello all - does anyone know how to add some additional timeframes to Metatrader 4? I have tried some other solutions such as Period Converter and others but they aren't very good.
Quoting maxcapital
today is correction day. focus is on usd. imo: classic pump and dump again on eurusd. my bias is short eur.
Hi,

My thoughts is that EURUSD might just be profit taking. Im still USD bears because maybe one more rate hike untill 2024 May.
US economy is expanding and creating jobs, Service ISM still above 50. Unemployment is low for now.

Regards
Nothing is impossible - IHS
Quoting Egbert
{quote} Hi, My thoughts is that EURUSD might just be profit taking. Im still USD bears because maybe one more rate hike untill 2024 May. US economy is expanding and creating jobs, Service ISM still above 50. Unemployment is low for now. Regards
yes. I took a short trade but got stopped out.

my opinion is that eur is still going down further. Germany as the main contributor is in deep s**t due to high energy prises and high inflation. My guess rates are going higher.
Quoting maxcapital
{quote} yes. I took a short trade but got stopped out. my opinion is that eur is still going down further. Germany as the main contributor is in deep s**t due to high energy prises and high inflation. My guess rates are going higher.
Was expecting to see strong USD weakness this week because of the red data, especially after the fomc minutes was released, so no more gd news to support USD (so far) for the week. Yet USDJPY struggles to go down and USDCAD can't seem to break out S line. Strange...Maybe the war plays a role in USD strength...

Anyone knows how Davit is doing? He's greatly missed. Hope he's doing well!

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memento mori
NZDUSD Short, the only trade I found for now this week
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Hello, i worked with pivot some times ago posting in this thread, but stopped because working with alghoritmic trading, now i want to bring back this method. Hoping people still use this one
Cheers
Avoid the crowd. Be chess player, not chess piece
Good helper for pivot trading
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Looking for pullback on EG and AN
By far the best system discussion. It's not as active anymore, but giving this a bump in case any new traders are looking for a system that'll pay off in the long run. Treasure Pivot Trading <3. Thanks for sharing your findings Davit.
Quoting Lebronjon
By far the best system discussion. It's not as active anymore, but giving this a bump in case any new traders are looking for a system that'll pay off in the long run. Treasure Pivot Trading <3. Thanks for sharing your findings Davit.
Is it still bad crack these days to ask questions about the method mate?
Quoting agoooor
Looking for pullback on EG and AN

sold some audnzd at 1.0875
we are between weekly r38 and r61
todays r3 r138 +adr reached
Muni loves you all!
Quoting MuniFX
{quote} sold some audnzd at 1.0875 we are between weekly r38 and r61 todays r3 r138 +adr reached
upcoming aud cpi figures can push it to more extremes..
Muni loves you all!
Quoting MuniFX
{quote} upcoming aud cpi figures can push it to more extremes..
the next rba meeting is on november 7th
q4 r2 is at 1.1000
q4 r3 is at 1.1075 (after that a test for a new year high)
Muni loves you all!
AN still underwater, i entered too early. NC already green
Monitoring UJ closely but dont like the swaps
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Quoting Lebronjon
By far the best system discussion. It's not as active anymore, but giving this a bump in case any new traders are looking for a system that'll pay off in the long run. Treasure Pivot Trading <3. Thanks for sharing your findings Davit.
Ya some of the stuff here are quite useful. I still struggle with risk management so I am still learning how to cut loss.

Mind if I ask...how long have you been using this system?
memento mori
Quoting Paulscaff1
{quote} Is it still bad crack these days to ask questions about the method mate?
This is what I did...I clicked right into Davit's profile...and read all of his recent posts first.

Then I clicked into the profile of those who have left comments here...still recently active on this thread...and have posted their winning rate. I would read their posts again and again. (btw no need to read mine lol I am just a newbie on this thread. There are many good tips left by the oldies in the beginning of the thread.)

Doing this helped me build a good understanding of the system more efficiently.

But I would say this, I think at the end of the day, you would also have to combine your own style into the system. Some tips left by people on this thread work for me. Some don't work that well. (Not because the tips are not useful but because my personality makes it hard to trade in that style.)

So umm...don't take everything in on this thread without any filter...You would have to fine tune the system for yourself according to your trading temperament. It's like what Davit used to say...He's a tutor who teaches how to paint. He can show you the apple and ask you to paint it. But everyone would paint the apple in a different way.

Green pipsssss
memento mori
Quoting Tovip
{quote} Ya some of the stuff here are quite useful. I still struggle with risk management so I am still learning how to cut loss. Mind if I ask...how long have you been using this system?
Yeah I had a few questions about how some if the experienced guys tackle their risk management with the method.

Dont get me wrong though, im pretty familiar with DCA, I was in a paid group for a while where we used it, one of the patterns though was that alot of guys would have several green days and even green weeks in a row due to the relatively easy targets along with the staged orders and room to breathe.....but there was always that time where it just wouldnt come back, and that would wipe out several days or even weeks of profit. In other words I found it noticable in the group what the impact of a loss was like when compared to the standard stop loss/risk reward profile thats more commonly used. I.E if trader takes 2-3 hits in a week with 0.5% or 1% risk, its not all that bad, and pretty much expected. But those bigger averaged in trades have a much bigger impact.

I guess theres ways around this though, so would be interesting to hear the different approaches.

One thought I had was to use the 131 for a mental stop based on a pre calculated loss amount like Davit mentions.
He says that if price bursts through R/S100 then we are in a fundamentaly driven market, therefore would maybe make sense to cut the loss at 131. Lets say you want to risk $500 per overall trade, could even use a SL at 131, just calculate the lot size so that an entry at 61+78+100 will have a combined SL of $500 at 131 pivot....?
back at it with pivots.
EA Buy
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Seek first to understand, then to be understood
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