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Pivot Trading

  • #11,301
  • Aug 24, 2017 11:37am Aug 24, 2017 11:37am
AUD/NZD is in a good place to start shorting.

Attached Image (click to enlarge)
Click to Enlarge Name: AUDNZDDaily.png Size: 56 KB
Patience and Discipline, these are the Holy Grail.
  • #11,302
  • Aug 24, 2017 12:07pm Aug 24, 2017 12:07pm
Quoting marcnathan88
AUD/NZD is in a good place to start shorting. {image}
IN THE SAME
  • #11,303
  • Aug 24, 2017 1:19pm Aug 24, 2017 1:19pm
EUR/NZD?
  • #11,304
  • Aug 24, 2017 1:57pm Aug 24, 2017 1:57pm
Quoting marcnathan88
AUD/NZD is in a good place to start shorting. {image}
Hi Marc, I to have started entering shorts AUDNZD may go all the way up to R138. I note my pivots not lining up with yours.... out by 30 ish pips... I thought I had them set right, so just wanted to check that you have yours based on NY close . If so I will do some more fiddling my end...
Thanks
Its all just one persons opinion
  • #11,305
  • Aug 24, 2017 11:21pm Aug 24, 2017 11:21pm
Quoting axecap
{quote} Hi Marc, I to have started entering shorts AUDNZD may go all the way up to R138. I note my pivots not lining up with yours.... out by 30 ish pips... I thought I had them set right, so just wanted to check that you have yours based on NY close . If so I will do some more fiddling my end... Thanks
Yes axecap it may reach R138 before totally moving down. I also have orders set up there and when price starts moving down I'll set stop orders on the way to catch the train. Actually I can also say that my chart might be the one that's off. I'm on demo with IC Markets.
Patience and Discipline, these are the Holy Grail.
  • #11,306
  • Aug 25, 2017 3:11am Aug 25, 2017 3:11am
Personally i won't be shorting AN as of yet. If you see Daily and weekly we are in a uptrend and there is no sign that the trend might reverse. We might see a retrace before price continuing upwards. Shorting the pair now means going against the trend which in my opinion might lead to a big DD if the trend continues. There are no fundamentals saying the trend is over as well. Just my 2 cents.

Attached Image (click to enlarge)
Click to Enlarge Name: AUDNZD.png Size: 121 KB

@Davit: I am sorry for posting a chart without your indicators as i unfortunately dont have access to MT4 at the moment.
  • #11,307
  • Aug 25, 2017 4:20am Aug 25, 2017 4:20am
GBP/JPy update. First time in my entire experience since starting FX trading back in 2009 that I made this much. All thanks to Davit's Pivot.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYH4.png Size: 50 KB
Patience and Discipline, these are the Holy Grail.
  • #11,308
  • Aug 25, 2017 4:33am Aug 25, 2017 4:33am
Quoting marcnathan88
GBP/JPy update. First time in my entire experience since starting FX trading back in 2009 that I made this much. All thanks to Davit's Pivot. {image}
I think the TP could be higher if you want to squeeze more pips, the daily shows price has been oversold and that TDI has only just crossed up wards so im anticipating quite a large move upwards i could be wrong though just my thoughts?
Also on the daily Price has bounced off a recent demand zone now and as previously seen could quite pos make its way up to the supply zone. ill show you my chart on daily.
What do you think?
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  • #11,309
  • Aug 25, 2017 4:42am Aug 25, 2017 4:42am
Quoting Neil0163
{quote} I think the TP could be higher if you want to squeeze more pips, the daily shows price has been oversold and that TDI has only just crossed up wards so im anticipating quite a large move upwards i could be wrong though just my thoughts? Also on the daily Price has bounced off a recent demand zone now and as previously seen could quite pos make its way up to the supply zone. ill show you my chart on daily. What do you think? {image}
Yes. I'm also expecting a large move on GJ after it has gone down 800 pips. I'm also aiming for R61 as my TP because it's the next turning point. But for now I'll keep it their and maybe later before London close and I see the bullish move still strong I might move my TP at R61.
Patience and Discipline, these are the Holy Grail.
  • #11,310
  • Aug 25, 2017 4:47am Aug 25, 2017 4:47am
Quoting marcnathan88
{quote} Yes. I'm also expecting a large move on GJ after it has gone down 800 pips. I'm also aiming for R61 as my TP because it's the next turning point. But for now I'll keep it their and maybe later before London close and I see the bullish move still strong I might move my TP at R61.
great minds think alike!
  • #11,311
  • Aug 25, 2017 5:10am Aug 25, 2017 5:10am
Quoting Neil0163
{quote} great minds think alike!
But honestly I don't think my mind is that great . I'm still studying and learning and I still have of to do a lot of them. But I really appreciate what you said. Makes me think that I'm doing it right.

Thanks.
Patience and Discipline, these are the Holy Grail.
  • #11,312
  • Aug 25, 2017 5:31am Aug 25, 2017 5:31am
My AN trade currently in drawdown but no worries because my positions are only in micro lot for a $10000 demo account. Under trading keeps you calm and gives you nothing to worry about. My plan for this trade is a 1000 pip threshold before closing my positions. Divergence is also forming which I'm keeping notice of. The move down may come soon. Patience is a must. I will wait for things to unfold.

Attached Image (click to enlarge)
Click to Enlarge Name: AUDNZDH4.png Size: 54 KB
Patience and Discipline, these are the Holy Grail.
  • #11,313
  • Aug 25, 2017 5:36am Aug 25, 2017 5:36am
Quoting marcnathan88
My AN trade currently in drawdown but no worries because my positions are only in micro lot for a $10000 demo account. Under trading keeps you calm and gives you nothing to worry about. My plan for this trade is a 1000 pip threshold before closing my positions. Divergence is also forming which I'm keeping notice of. The move down may come soon. Patience is a must. I will wait for things to unfold. {image}
Next week that move will come
Another to watch EN
  • #11,314
  • Aug 25, 2017 6:50am Aug 25, 2017 6:50am
Update GJ and AN
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPJPYH1.png Size: 66 KB
Click to Enlarge Name: AUDNZDH1.png Size: 69 KB
  • #11,315
  • Aug 25, 2017 8:09am Aug 25, 2017 8:09am
Fibo38, what's your entry on A/N?
  • #11,316
  • Aug 25, 2017 8:12am Aug 25, 2017 8:12am
Quoting TechnoTr8r
Fibo38, what's your entry on A/N?
1.09627
I protected the position + 2, but I hit the SL
  • #11,317
  • Aug 25, 2017 8:26am Aug 25, 2017 8:26am
Quoting solecrusader
Personally i won't be shorting AN as of yet. If you see Daily and weekly we are in a uptrend and there is no sign that the trend might reverse. We might see a retrace before price continuing upwards. Shorting the pair now means going against the trend which in my opinion might lead to a big DD if the trend continues. There are no fundamentals saying the trend is over as well. Just my 2 cents. {image} @Davit: I am sorry for posting a chart without your indicators as i unfortunately dont have access to MT4 at the moment.
Thank you. I see what you meant. AN is still going up, you saved me few pips,was about to short it
Your salary is the bribe they give you to forget your dreams
  • #11,318
  • Aug 25, 2017 8:51am Aug 25, 2017 8:51am
Quoting solecrusader
{quote} I mostly trade weekly, daily and H4 charts as they tell you ..
keeping the UC short was a good idea. Trend is the friend.

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  • #11,319
  • Aug 25, 2017 10:24am Aug 25, 2017 10:24am
In my opinion CHFJPY has started trending, only time will tell. I will keep on moving my SL and let the opposite trend stop me out. UCHF i found a good spot to short hence i went into that as well.

I personally find CHF as one of the hardest currency to trade.

CHFJPY
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UCHF
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Have a nice weekend guys. Cheers
  • #11,320
  • Aug 25, 2017 10:45am Aug 25, 2017 10:45am
do you guys think pivot points is kind of rsi levels , i mean the whole market is levels S/R
pop pop popping
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