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Pivot Trading

  • #14,161
  • Dec 26, 2017 6:54am Dec 26, 2017 6:54am
Quoting pgr45za
Australia - business confidence. Japan - business confidence. {image} {image}
excellent posts buddy
In trading, you have to be defensive and aggressive at the same time
  • #14,162
  • Dec 26, 2017 6:58am Dec 26, 2017 6:58am
much of good vibes on us tax plan is waning off.It remains to be seen if US economy will benefit.
Speaking of AUD 7884 is 618 of the larger swing.Can it get there next Q possibly and strong possibility
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In trading, you have to be defensive and aggressive at the same time
  • #14,163
  • Dec 26, 2017 8:03am Dec 26, 2017 8:03am
Quoting DrForexMD
Hey Davit et al, Thank you all for your input. I did try to download and refreshed my Oanda data for AN starting at the lowest TF of M1 to get the best accuracy as suggested. There was still the spike. However, when I tried to go to my empty live account, I did get the correct non-spike for AS YOU ALL. My Demo: {image} My Live: {image} With downloading data to refresh the Demo, there is a warning that you need to accept that the Demo data is not necessarily the same as their Server data. I think I will stick with Oanda as before to mirror Davit's...
I belong to Oanda as well for the last dozen year. Only had one account because I only needed one. You cannot blow up with Oanda. Their algorithm allows you to trade prudently, and stay alive until you learn to do so. So for this thread and method I would fully endorse them. You will not get silly leverage levels, but if you can trade, you don't need them. Davit's method is a refinement and mastery of BWILC. A good read if you want to really get into the technical philosophy behind this method.

Edit: YOU DO NOT NEED THE COURSE. Davit has already given it to you in a way that works for these markets. If you do read the book you will understand the power of ranges, and exhaustion, etc.
If you are good at something, never do it for free--Joker
  • #14,164
  • Dec 26, 2017 8:14am Dec 26, 2017 8:14am
Quoting jmn5611
{quote} I belong to Oanda as well for the last dozen year. Only had one account because I only needed one. You cannot blow up with Oanda. Their algorithm allows you to trade prudently, and stay alive until you learn to do so. So for this thread and method I would fully endorse them. You will not get silly leverage levels, but if you can trade, you don't need them. Davit's method is a refinement and mastery of BWILC. A good read if you want to really get into the technical philosophy behind this method. Edit: YOU DO NOT NEED THE COURSE. Davit has...

Excellent read and nice adaptation here on Pivot Trading
  • #14,165
  • Dec 26, 2017 8:25am Dec 26, 2017 8:25am
Quoting jmn5611
{quote} I have studied this as well. What I found is that all whole and half numbers are not created equally. What pivots do is highlight which of these numbers will be more relevant. So a BRN at the weekly pivot will not have the stopping power that a BRN between the 61 and 78 zones. The main reason is that when prices comes into these zones there has been a significant move and there is likely to be exhaustion present. This is what pivot trading does in my view. It finds areas of exhaustion where price is likely to reverse. So if using whole and...
great analogy, the more I read and reread this thread the more I just keep learning and benefiting from the brillance shared...
  • #14,166
  • Dec 26, 2017 8:26am Dec 26, 2017 8:26am
Quoting Davit
{quote} I don't think your comment is appropriate. JL suffered from mental depression and this days its treated with drugs but back then nothing of that kind unless you wanted your brain to be fried with electric shocks.. When I look at great Artists like Van Gogh,Mark Rothko,Arshile Gorky, Jean-Michel Basquiat,John Minton to name some I don't look at their work from perspective that they committed suicide.That would be too shallow pedestrian way to look at their accomplishments.I look at their WORK and what I can learn from their artistic output....
So true!
  • #14,167
  • Dec 26, 2017 1:03pm Dec 26, 2017 1:03pm
Quoting Davit
Same well known trader "Yesterday the market stalled at BRN136.00 and I did something naughty. Instead of sell with my usual standard lot, I open many small mini-lot trades. Let's see if market will drop to the next BRN 135.00 and I can boast I make 1,000 pips in a 100pips move from 136 to 135. I could have traded micro lots and then make 10,000pips... lots of pips but the money is the same as my standard lot trades. What is the edge in trading small lots? NONE! Just some fun to make lots of pips what rookie trader enjoys."...
Davit, this is the most important thing I have learned from you! This is MAJOR in turning my trading around. Thank you!
  • #14,168
  • Dec 26, 2017 1:12pm Dec 26, 2017 1:12pm
Quoting bohurst
{quote} Davit, this is the most important thing I have learned from you! This is MAJOR in turning my trading around. Thank you!
Thank you and wish you successful 2018

EG and UJ going south.Slowly but still going in my direction.
When UJ drops it has domino effect on all JPY crosses
In trading, you have to be defensive and aggressive at the same time
  • #14,169
  • Dec 26, 2017 4:25pm Dec 26, 2017 4:25pm
CJ dropped twice from here
worth monitering
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In trading, you have to be defensive and aggressive at the same time
  • #14,170
  • Dec 26, 2017 4:31pm Dec 26, 2017 4:31pm
AJ short once PA falls further.
TDI divergence is supporting.

Notice how in the past these levels have been rejected. Looking left ...

Edit: 2nd pic. Bearish harmonics and bearish AB=CD also setting up for a good short soon.
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Attached Image
  • #14,171
  • Dec 26, 2017 4:39pm Dec 26, 2017 4:39pm
Quoting Davit
CJ dropped twice from here worth monitering {image}
Hi David,

Good to short from R38 level?
  • #14,172
  • Dec 26, 2017 4:47pm Dec 26, 2017 4:47pm
Quoting valentroisss
{quote} Hi David, Good to short from R38 level?
Yes its valid level when it has history of being strong resistance.Not every swing reaches 61-100
on CJ it has history being strong R there
Price has stalled here now but clearly bears are not present yet.No reason to short yet.
Attached Image (click to enlarge)
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In trading, you have to be defensive and aggressive at the same time
  • #14,173
  • Dec 26, 2017 4:57pm Dec 26, 2017 4:57pm
Quoting sonseeker
{quote} great analogy, the more I read and reread this thread the more I just keep learning and benefiting from the brillance shared...
We are not brilliant. We just work hard. I learned something from Davit. I learned to see who is serious about trading and who is not. It is the image tab on your personal home page. I have over 200 images. Almost all charts. This blew me away, and I realized I was wasting time on a trading site with non-traders. I will fix this in 2018.
If you are good at something, never do it for free--Joker
  • #14,174
  • Dec 26, 2017 5:13pm Dec 26, 2017 5:13pm
The case for shorting (soon) CJ is even stronger than Davit suggested.
See below the multiple rejections looking left.

Edit: Also, two bearish harmonic patterns on CJ (H4).

Edit2: Price is now at the 50% Fib retracement level. Further confluence.
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  • #14,175
  • Dec 26, 2017 5:26pm Dec 26, 2017 5:26pm
I think the tipping point for AJ to fall will be XAUUSD falling. Today is the first trading day of the week and it's already at WR78.
  • #14,176
  • Dec 26, 2017 6:36pm Dec 26, 2017 6:36pm
Quoting lordgbengs
Potential Head and Shoulder formation - H4 {image}
lordgbergs. The symbol changer you have on your chart. Where does it come from?

I have one, but it is in ex4 so I cannot alter the code. Anyone else can chime in too if they have one.
If you are good at something, never do it for free--Joker
  • #14,177
  • Edited 7:43pm Dec 26, 2017 7:27pm | Edited 7:43pm
This is no criticism just observation.

If you can't see price decline by looking at 5 close candles and NEED 3 different MA's for that then you need to work on your price action skills.

https://www.forexfactory.com/showthr...691864&page=14

Depending on MA is like depending on crutches to walk.You need to grow out of them.
Most valuable part about the thread is not about MA's but market cycle he talks about and that fits well with harmonics and Elliot Wave theory.

Just for gaining insight. 24MA on my template. R61 to 24MA over 100pips.Efficient? think not.
Attached Image(s) (click to enlarge)
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In trading, you have to be defensive and aggressive at the same time
  • #14,178
  • Edited Dec 27, 2017 12:49am Dec 26, 2017 7:38pm | Edited Dec 27, 2017 12:49am
Quoting jmn5611
{quote} lordgbergs. The symbol changer you have on your chart. Where does it come from? I have one, but it is in ex4 so I cannot alter the code. Anyone else can chime in too if they have one.
could be this one Jmn
Attached File(s)
File Type: mq4 Buttons.mq4   13 KB | 512 downloads
"You know what needs to be addressed , completely completely reverse that".
  • #14,179
  • Dec 26, 2017 7:39pm Dec 26, 2017 7:39pm
Even worse on daily close to 200pips distance not collected.
Attached Image (click to enlarge)
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In trading, you have to be defensive and aggressive at the same time
  • #14,180
  • Dec 26, 2017 8:18pm Dec 26, 2017 8:18pm
Quoting Davit
Even worse on daily close to 200pips distance not collected. {image}
Afternoon Davit,
Mighty hot in Melbourne Town.
675 Subscribers....Alas not all have seen the light.....Keep up the good work mate.
Cheers,
Ronald
Ronnie Renko
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