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Pivot Trading

  • #11,801
  • Oct 5, 2017 6:43am Oct 5, 2017 6:43am
Lost on pound 170 pip. Closed. Move on.
  • #11,802
  • Oct 5, 2017 7:48am Oct 5, 2017 7:48am
Love Canada today!!!
  • #11,803
  • Oct 5, 2017 7:49am Oct 5, 2017 7:49am
Quoting denisius
Love Canada today!!!
I suppose you made off CAD longs?
  • #11,804
  • Oct 5, 2017 7:55am Oct 5, 2017 7:55am
Quoting MoneyFocus
{quote} I suppose you made off CAD longs?
Yep. A little bit.
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  • #11,805
  • Oct 5, 2017 8:03am Oct 5, 2017 8:03am
All TP hits.
  • #11,806
  • Oct 5, 2017 8:36am Oct 5, 2017 8:36am
Quoting denisius
All TP hits.
You really didn't trade off any pivot levels, rather just traded the news (its ok i did a few small positions as well).

You also can set up MT4 mobile to have TDI as well.
Attached File(s)
File Type: pdf TDI indicator for Mobile.pdf   368 KB | 12,815 downloads
Trade with confidence, trade without fear.
  • #11,807
  • Oct 5, 2017 8:44am Oct 5, 2017 8:44am
Quoting Davit
EG at 138!
Im watching that one closely as well.
Trade with confidence, trade without fear.
  • #11,808
  • Oct 5, 2017 9:13am Oct 5, 2017 9:13am
Quoting Cryptosurf
{quote} Im watching that one closely as well.
is it not likely that it will reach these levels?
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Avoid the crowd. Be chess player, not chess piece
  • #11,809
  • Oct 5, 2017 9:14am Oct 5, 2017 9:14am
Quoting Cryptosurf
{quote} You really didn't trade off any pivot levels, rather just traded the news (its ok i did a few small positions as well). You also can set up MT4 mobile to have TDI as well. {image}
Thats good thing to know. Thanks. Last week I saw something that related to news and pivot levels especially on Canadian dollar. So to say I didn't try to take swings I just followed the trend. But all my TP was based on pivot.
  • #11,810
  • Oct 5, 2017 9:41am Oct 5, 2017 9:41am
Quoting acsandrei
{quote} is it not likely that it will reach these levels? {image}
That's a good question, with the dollar rising its putting pressure on both pairs. Cant decide which way it wants to go.
Trade with confidence, trade without fear.
  • #11,811
  • Oct 5, 2017 10:20am Oct 5, 2017 10:20am
Update GU. Very hard !!!!
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  • #11,812
  • Oct 5, 2017 11:11am Oct 5, 2017 11:11am
Got in a little late on WTI, but was able to shave of a decent amount.

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Trade with confidence, trade without fear.
  • #11,813
  • Oct 5, 2017 12:27pm Oct 5, 2017 12:27pm
Canadian pairs continue its move . Unfortunately I wasn't able to re enter. ( I have day job It takes all my time) Tomorrow's NFP can have completely opposite effect on today's rally or confirm it. We will find out tomorrow . Done for today. Day closing at 0. All loses from pound was recovered by Canadian.
  • #11,814
  • Oct 5, 2017 12:55pm Oct 5, 2017 12:55pm
Quoting fibo38
Update GU. Very hard !!!! {image}
I am in the same trade.
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  • #11,815
  • Oct 5, 2017 3:56pm Oct 5, 2017 3:56pm
Hi, i have a question. I see (for example) on nzdusd but like many others a good opportunity to a buy but...should i consider that there is not any support in any higher TF? Becouse i was wondering how can this strategy make very consistent profits and i seen that the biggest move (over 50 pips) begin near a support/resistence level in D1 or H4.
So the question is that if I would like to catch a bigger move of the price, should i use this strategy with pivots only near big S/R?
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Avoid the crowd. Be chess player, not chess piece
  • #11,816
  • Edited 5:01pm Oct 5, 2017 4:41pm | Edited 5:01pm
Quoting acsandrei
Hi, i have a question. I see (for example) on nzdusd but like many others a good opportunity to a buy but...should i consider that there is not any support in any higher TF? Becouse i was wondering how can this strategy make very consistent profits and i seen that the biggest move (over 50 pips) begin near a support/resistence level in D1 or H4. So the question is that if I would like to catch a bigger move of the price, should i use this strategy with pivots only near big S/R? {image}
From my understanding, the premise of this is basically swing failure/mean reversion play. As price pushes to the outer most Pivot levels the greater the chance price will return to mean. Much like EW’s will zig zag up/down you’re catching those swings at levels of higher chance of reversing.

My suggestion is to read this PDF over and over until it sinks in: https://www.forexfactory.com/showthr...1#post10335951
Trade with confidence, trade without fear.
  • #11,817
  • Oct 5, 2017 5:20pm Oct 5, 2017 5:20pm
Quoting acsandrei
Hi, i have a question. I see (for example) on nzdusd but like many others a good opportunity to a buy but...should i consider that there is not any support in any higher TF? Becouse i was wondering how can this strategy make very consistent profits and i seen that the biggest move (over 50 pips) begin near a support/resistence level in D1 or H4. So the question is that if I would like to catch a bigger move of the price, should i use this strategy with pivots only near big S/R? {image}
You should have awareness of fundamentals as well.NFP week and all data so far has been positive for USD plus most likely another hike in Dec.
Sentiment is turning in favor of USD
Now with this as background you should make appropriate decisions.This thread is not strictly technical.I stress on fundamentals over and over and from your post it looks like you had no idea this being NFP week.
I am becoming little frustrated posts like yours.I have no idea about your experience level but its discourages me.
Guys its obvious I have news indicator on my template! One of the few traders here at FF who does.Its important to keep it up what's going on in the market.
Market is calumniation of news and sentiment.They shape it.Pivots guide turning points but can be overrun by strong fundemetal factors.This much should be obvious!
In trading, you have to be defensive and aggressive at the same time
  • #11,818
  • Oct 5, 2017 5:38pm Oct 5, 2017 5:38pm
Quoting Davit
{quote} You should have awareness of fundamentals as well.NFP week and all data so far has been positive for USD plus most likely another hike in Dec. Sentiment is turning in favor of USD Now with this as background you should make appropriate decisions.This thread is not strictly technical.I stress on fundamentals over and over and from your post it looks like you had no idea this being NFP week. I am becoming little frustrated posts like yours.I have no idea about your experience level but its discourages me. Guys its obvious I have news indicator...
I know! I don't trade near news! But mine was only a question in generale, a tecnical one, only to improve my knowledge with this strategy; in fact i wrote "for example".
Probably you misanderstood
sorry
Avoid the crowd. Be chess player, not chess piece
  • #11,819
  • Oct 5, 2017 6:48pm Oct 5, 2017 6:48pm
Keeping an eye on the news cannot be overstated enough. It should become instinctual when thinking of placing a trade consider any upcoming events. In addition to reviewing the various FX calendars, I have a separate window on every profile pair dedicated for news cal.

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Trade with confidence, trade without fear.
  • #11,820
  • Oct 5, 2017 7:59pm Oct 5, 2017 7:59pm
Quoting acsandrei
{quote} I know! I don't trade near news! But mine was only a question in generale, a tecnical one, only to improve my knowledge with this strategy; in fact i wrote "for example". Probably you misanderstood sorry
Think about fundamentals ( big data , news etc etc) as a catalyst for ether reversal or trend support and continuation. Technical analysis is only small part. You have to put both together before make your decision on any trades. This strategy is just a map, to make you feel more oriented in charts. Each level can be important yet same time can be easily broken. I think it's a bit to early for you to trade on this strategy. No offense. There is not much to understand from technical perspective. Davit has very good books to read on first page of this thread. I suggest you to spend this weekend to study them. It will help you better then anyone here.
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