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Pivot Trading

  • #13,261
  • Nov 21, 2017 7:05am Nov 21, 2017 7:05am
Quoting Davit
{quote} Nice good job I am letting my AU longs to grow north
Hope this runs to the moon for you..and in doing so drags down the short book I've built in GBP / AUD
  • #13,262
  • Nov 21, 2017 7:10am Nov 21, 2017 7:10am
Quoting FXClarity
{quote} Hope this runs to the moon for you..and in doing so drags down the short book I've built in GBP / AUD
I hope it works out for you! I don't trade beasts like GA GJ GN generally avoid hyper pairs
In trading, you have to be defensive and aggressive at the same time
  • #13,263
  • Nov 21, 2017 7:12am Nov 21, 2017 7:12am
I'd be interested in any of the experienced traders' views on Wall Street / US 30 right now.

This is now lurching north for a feel good US 'Thanksgiving" rally (makes good headlines for the holidays).

I'm building a short position on this now and can post a chart to support the reversion / retrace below 22200 but its not in line with Davit's Pivot strat and I don't wish disrupt the flow of the thread...that said we do seem to follow a similar path of trading ventures and adhere to similar money management rules (BWILC...A life changing read for any trader)..
  • #13,264
  • Nov 21, 2017 7:16am Nov 21, 2017 7:16am
Quoting Davit
{quote} I hope it works out for you! I don't trade beasts like GA GJ GN generally avoid hyper pairs
Aye, this pair can be a bloody monster when it gets going - and for my strategy its already had two 'failed rotations' to retrace.

Interestingly enough I have a long set-up on the AUD/USD too but it would just add to my risk in a highly correlated pair...no doubt Murphy's law will kick in and AU will fly but no serious bids will hit GBP.
  • #13,265
  • Nov 21, 2017 7:16am Nov 21, 2017 7:16am
Quoting FXClarity
I'd be interested in any of the experienced traders' views on Wall Street / US 30 right now. This is now lurching north for a feel good US 'Thanksgiving" rally (makes good headlines for the holidays). I'm building a short position on this now and can post a chart to support the reversion / retrace below 23200 but its not in line with Davit's Pivot strat and I don't wish disrupt the flow of the thread...that said we do seem to follow a similar path of trading ventures and adhere to similar money management rules (BWILC...A life changing read for...
I don't trade it and can't comment however if you can throw pivots on it and post the chart it would be interesting
I am a big fan of that book idea of low gearing stole it from him.
In trading, you have to be defensive and aggressive at the same time
  • #13,266
  • Nov 21, 2017 7:17am Nov 21, 2017 7:17am
Quoting Davit
UPdate on my AC trades https://www.forexfactory.com/showthr...0#post10515490 for dear TMS users {image}
I'm on the wrong side of it and I see now why.
  • #13,267
  • Nov 21, 2017 7:20am Nov 21, 2017 7:20am
Quoting 1pipperhour
{quote} I'm on the wrong side of it and I see now why.
never buy an instrument after its moves are exhausted.Pivots provide exhaustion levels.
Usually MA traders fall for this.You know below 10EMA PAC Tunnel etc sell above buy and all that BS common in FF
In trading, you have to be defensive and aggressive at the same time
  • #13,268
  • Nov 21, 2017 7:20am Nov 21, 2017 7:20am
Quoting Davit
{quote} I don't trade it and can't comment however if you can throw pivots on it and post the chart it would be interesting I am a big fan of that book idea of low gearing stole it from him.
Me to mate, getting the money management right was what turned a modest strategy into a highly profitable one..Seems like you had a similar experience.

..FWIW - I never go beyond 3:1 leverage nowadays either
  • #13,269
  • Nov 21, 2017 7:23am Nov 21, 2017 7:23am
Attached Image (click to enlarge)
Click to Enlarge Name: IDX.US.30DailyFF.png Size: 47 KB


Okay, Its a retrace to the breakout on the Daily..There is also a GAP below that I've market off but that is just for my reference.
  • #13,270
  • Nov 21, 2017 7:27am Nov 21, 2017 7:27am
Here is the 60 min - come out of immediate trend (1st rotation). and now launching into a supply zone.

However..."Dow closes at record highs" is a headline for Thanksgiving so although I've started building a short position moves higher wouldn't be a major surprise..
Attached Image (click to enlarge)
Click to Enlarge Name: IDX.US.30H1FF.png Size: 50 KB
  • #13,271
  • Nov 21, 2017 7:32am Nov 21, 2017 7:32am
Renko surely make life easy
Attached Image
  • #13,272
  • Nov 21, 2017 7:33am Nov 21, 2017 7:33am
Quoting FXClarity
{image} Okay, Its a retrace to the breakout on the Daily..There is also a GAP below that I've market off but that is just for my reference.
don't see the pivots on it.Its important to me where price is on weekly fib pivots
In trading, you have to be defensive and aggressive at the same time
  • #13,273
  • Nov 21, 2017 7:35am Nov 21, 2017 7:35am
Quoting Tekkies
Renko surely make life easy {image}
Hi Tekkies
Welcome.Could you post your renko indicator I will play with it see how it does.Thank you
In trading, you have to be defensive and aggressive at the same time
  • #13,274
  • Nov 21, 2017 7:36am Nov 21, 2017 7:36am
going up nicely
Attached Image (click to enlarge)
Click to Enlarge Name: AUDCADH4.png Size: 41 KB
In trading, you have to be defensive and aggressive at the same time
  • #13,275
  • Nov 21, 2017 7:37am Nov 21, 2017 7:37am
Fair enough - Chart merely represents how I see it and I expect it must be sitting off some Pivot extension level.

I don't want to disrupt the flow here by taking things 'off piste' with my strategy. So shan't post any further charts.

No probs
  • #13,276
  • Nov 21, 2017 7:40am Nov 21, 2017 7:40am
Quoting FXClarity
Fair enough - Chart merely represents how I see it and I expect it must be sitting off some Pivot extension level. I don't want to disrupt the flow here by taking things 'off piste' with my strategy. So shan't post any further charts. No probs
Its just to me pivots are roadmaps without them I can't make sense of price extensions.To me its all about location of price.Its no disruption however I can't be any help without pivots.I am now hard wired with pivots perhaps others can comment.
In trading, you have to be defensive and aggressive at the same time
  • #13,277
  • Nov 21, 2017 7:47am Nov 21, 2017 7:47am
To see what I am talking about is look at UJ naked then UJ with pivots
Attached Image(s) (click to enlarge)
Click to Enlarge Name: USDJPYH4.png Size: 31 KB
Click to Enlarge Name: USDJPYDaily.png Size: 40 KB
In trading, you have to be defensive and aggressive at the same time
  • #13,278
  • Nov 21, 2017 7:56am Nov 21, 2017 7:56am
Quoting Davit
To see what I am talking about is look at UJ naked then UJ with pivots {image} {image}
Yes, I see exactly what you mean - Pivots are your roadmap and you use them to scale in and lever out - makes absolute sense and enforces money management where the size of the entries can be adjusted to the corresponding Pivot if desired.

Quite coincidentally I do something similar but it based on the price action itself (as I see it).

Chart is on the GBP / AUD, Two failed rotations on this one so far..(I've only posted the chart as its relevant to the flow of dialogue).
Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUD.proH4ff.png Size: 73 KB
  • #13,279
  • Nov 21, 2017 8:34am Nov 21, 2017 8:34am
Hi Davit,
Thank you for sharing pivots system. It is enlightning. I have never see charts this clear until now.
A couple of trades on Gb/Jpy in chart that i took.
Best of green pips to you and followers.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy SELL PIV.jpg Size: 369 KB
  • #13,280
  • Nov 21, 2017 8:48am Nov 21, 2017 8:48am
Sold. Wil lock before FOMC tomorrow. If trend continues, market will take dollar lower.
Attached Image (click to enlarge)
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