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Pivot Trading

  • #12,441
  • Oct 31, 2017 12:37am Oct 31, 2017 12:37am
UJ...just waiting on another push lower S78 is good for me. Those DD were winners I did not close...let them turn into DD. Lesson learned.
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Invest in Life
  • #12,442
  • Oct 31, 2017 1:04am Oct 31, 2017 1:04am
Quoting Mundo
UJ...just waiting on another push lower S78 is good for me. Those DD were winners I did not close...let them turn into DD. Lesson learned. {image}
BOJ press conference in 25min.
The way I see it if it were going to shoot high it would of already done so I anticipate more south UJ
In trading, you have to be defensive and aggressive at the same time
  • #12,443
  • Oct 31, 2017 1:24am Oct 31, 2017 1:24am
I posted many times about the power of the pivots and accuracy.
Just look at 61S on UJ! It never seizes to amaze me.I can't think of a better Edge
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In trading, you have to be defensive and aggressive at the same time
  • #12,444
  • Oct 31, 2017 1:41am Oct 31, 2017 1:41am
Quoting Davit
I posted many times about the power of the pivots and accuracy. Just look at 61S on UJ! It never seizes to amaze me.I can't think of a better Edge {image}
perfectly agreed
  • #12,445
  • Oct 31, 2017 1:46am Oct 31, 2017 1:46am
waiting on tdi confirm
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  • #12,446
  • Oct 31, 2017 1:51am Oct 31, 2017 1:51am
Quoting fantasydank
waiting on tdi confirm {image} {image}
I suggest you look at my chart and yours.Your pivots are WAYYYYY off
In trading, you have to be defensive and aggressive at the same time
  • #12,447
  • Oct 31, 2017 1:57am Oct 31, 2017 1:57am
Quoting Davit
{quote} I suggest you look at my chart and yours.Your pivots are WAYYYYY off
using voty switches to monthy pivots on daily and weekly
  • #12,448
  • Oct 31, 2017 2:00am Oct 31, 2017 2:00am
Quoting Davit
I posted many times about the power of the pivots and accuracy. Just look at 61S on UJ! It never seizes to amaze me.I can't think of a better Edge {image}
And it is that S61 along with a 50fib that had me close these trades. Took the small W and walked away with positive pips and opportunity to work on looking for another setup tomorrow. Green pips to all.
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Invest in Life
  • #12,449
  • Oct 31, 2017 2:00am Oct 31, 2017 2:00am
Quoting fantasydank
{quote} using voty switches to monthy pivots on daily and weekly
ok its all good.I was like WTF moment
In trading, you have to be defensive and aggressive at the same time
  • #12,450
  • Oct 31, 2017 2:02am Oct 31, 2017 2:02am
Quoting Mundo
{quote} And it is that S61 along with a 50fib that had me close these trades. Took the small W and walked away with positive pips and opportunity to work on looking for another setup tomorrow. Green pips to all. {image}
that's probability the best decision since bounce now is more likely
In trading, you have to be defensive and aggressive at the same time
  • #12,451
  • Oct 31, 2017 2:11am Oct 31, 2017 2:11am
I'm hesitating closing.....waiting for London open to confirm
Its all just one persons opinion
  • #12,452
  • Oct 31, 2017 2:18am Oct 31, 2017 2:18am
Quoting fantasydank
{quote} using voty switches to monthy pivots on daily and weekly
not a bad idea to look at monthly pivots at the end of the month.....
Its all just one persons opinion
  • #12,453
  • Oct 31, 2017 2:21am Oct 31, 2017 2:21am
Quoting axecap
I'm hesitating closing.....waiting for London open to confirm
UJ might go lower...or maybe not...it's about probability and working my edge. And since I am to look for a possible reversal on 61- 100 I thought I would be going against my trading plan which is to look for reversal at these pivots. Too much at stake for me to second guess at this stage. Not getting into a long unless PA shows me a set up.
Invest in Life
  • #12,454
  • Oct 31, 2017 2:51am Oct 31, 2017 2:51am
I'll see you guys later must sleep now.Letting UJ shorts run may carry it next month
green pips
In trading, you have to be defensive and aggressive at the same time
  • #12,455
  • Oct 31, 2017 2:57am Oct 31, 2017 2:57am
Quoting jarfx05
{quote} UJ {image} CJ {image}
Hi jarfx05, what is the name of the Calendar/news indicator you have on the chart you posted? Thanks
  • #12,456
  • Oct 31, 2017 3:09am Oct 31, 2017 3:09am
AN - some serious fight going on around this week's pivot
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Fall seven times, stand up Eight! #GGMU
  • #12,457
  • Oct 31, 2017 3:36am Oct 31, 2017 3:36am
Hi,

i wrote this before:

Watch out, uj looks promising on the short side ( so as the other extended pairs with the usd ) however it is very likely that the gdp exceed the forecast rate and usd will continue to rise.
Either way it should move the market with a good amount.
Better wait for 5 mins after the statement and jump in.

Also, do no forget by uj liquidity can cause some noise.

08:30 am (NY Time) US Advanced GDP q/q Forecast
2.7% Previous 3.1% (Final Q2 GDP)
DEVIATION: 0.2%
BUY USD 2.9%
SELL USD 2.5%

--- The actual GDP exceeded the forecast at 3%.
--- The core PCE price fulfilled the forecasted rate---

So, i have closed my short UJ positions, opened long... Total disaster.

I will avoid trading around the news. Im just not there yet to trade the fundamentals.
  • #12,458
  • Oct 31, 2017 3:42am Oct 31, 2017 3:42am
Quoting Thomas88
Hi, i wrote this before: Watch out, uj looks promising on the short side ( so as the other extended pairs with the usd ) however it is very likely that the gdp exceed the forecast rate and usd will continue to rise. Either way it should move the market with a good amount. Better wait for 5 mins after the statement and jump in. Also, do no forget by uj liquidity can cause some noise. 08:30 am (NY Time) US Advanced GDP q/q Forecast 2.7% Previous 3.1% (Final Q2 GDP) DEVIATION: 0.2% BUY USD 2.9% SELL USD 2.5% --- The actual GDP exceeded the forecast...
My 2 cents on your note - awareness about fundamentals helps, it helps you stay on the relevant side of the market. However, trading only as per fundamentals is more of a long term investing game. We are primarily technical medium/short term traders - I always try to trade as per my technical analysis, which is more or less this system.
Fall seven times, stand up Eight! #GGMU
  • #12,459
  • Edited 5:41am Oct 31, 2017 4:46am | Edited 5:41am
Quoting Davit
{quote} I think you mean monthly pivots. Its on clipboard under Pivot voty When you click 4h and lower its weekly but when you click on Daily it shows monthly pivots and if you mean the blue line that's daily open price and its on 1st page Personally after testing monthly pivots its basically impractical in forex trading unless you are an investor holding trades for months. To me less you have on your charts the better.Think of indicators as variables more you have them more variables you are adding until making trading decision becomes paralyzing....
You're right . A clear chart is the basis for good decisions...
and a lot of patience

GN
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GBPCHF
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if you're doing we all have results with all
  • #12,460
  • Oct 31, 2017 4:51am Oct 31, 2017 4:51am
Quoting pgr45za
{quote} Hi jarfx05, what is the name of the Calendar/news indicator you have on the chart you posted? Thanks
https://www.forexfactory.com/showthread.php?t=705989
if you're doing we all have results with all
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