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Pivot Trading

  • #16,181
  • Mar 19, 2018 7:08am Mar 19, 2018 7:08am
Quoting 1pipperhour
I thought I'll have a go on this. Best way to learn is by practicing, right? Went through next week's calendar and this is what I think. G20 Meetings on Monday and Tuesday so some news flash and certain spikes to be expected. USD Wednesday Federal Funds Rate and FOMC. Not wise to trade at least USD pairs on Wednesday. USD is expected to get stronger but I'm not sure how much of this is already priced in and it could spike in every direction. So I would wait after dust settles and make my trading decisions after. All trading decisions concerning...
Executing the plan.

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  • #16,182
  • Mar 19, 2018 7:16am Mar 19, 2018 7:16am
Quoting 1pipperhour
{quote} Executing the plan. {image}
your tp too short...in my view (I could be wrong)8350-84 by friday when all dust settles
In trading, you have to be defensive and aggressive at the same time
  • #16,183
  • Mar 19, 2018 7:17am Mar 19, 2018 7:17am
Come baby come down
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  • #16,184
  • Mar 19, 2018 7:19am Mar 19, 2018 7:19am
Quoting lordgbengs
{quote} Hello GE, I think you are fine on the WPP. Good to read from you.

Thank you LORDGBENGS.

GE
"Define the risk OUT of your trade"--Mark Douglas
  • #16,185
  • Mar 19, 2018 7:22am Mar 19, 2018 7:22am
Quoting szejjel
Come baby come down {image}
You can blend in the anglator by selecting transparent background from settings.As a painter its sore box looking at you.Your focus should be on PA
In trading, you have to be defensive and aggressive at the same time
  • #16,186
  • Mar 19, 2018 7:22am Mar 19, 2018 7:22am
Quoting Davit
{quote} your tp too short...in my view (I could be wrong)8350-84 by friday when all dust settles
This is partial TP. TP2 is set to 8320.
  • #16,187
  • Mar 19, 2018 7:46am Mar 19, 2018 7:46am
Starting my week with a bang! Closed my EG shorts
Really nice gain very happy with it.Patience pays off
Notice price is at 100S I am anticipating a bounce north and may short again above 88.50
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In trading, you have to be defensive and aggressive at the same time
  • #16,188
  • Mar 19, 2018 7:49am Mar 19, 2018 7:49am
Quoting Davit
Starting my week with a bang! Closed my EG shorts Really nice gain very happy with it.Patience pays off {image}
Fantastic !
  • #16,189
  • Mar 19, 2018 7:51am Mar 19, 2018 7:51am
Quoting blueman
{quote} Fantastic !
Thank you friend lets see how CAD does.After weds should start gaining.Waiting patiently for the walls to crumble
In trading, you have to be defensive and aggressive at the same time
  • #16,190
  • Mar 19, 2018 8:10am Mar 19, 2018 8:10am
Watch EA getting close
nothing on PA suggesting shorting yet but it should be on your watch list
look at anglator wondeful indicator thanks to Griffinsoul and his team developing it.
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In trading, you have to be defensive and aggressive at the same time
  • #16,191
  • Edited 8:27am Mar 19, 2018 8:16am | Edited 8:27am
GM Folks,

It looks like UK Brexit deal today has made a "decisive deal" for 2020. Now GU descending from R100. Note I can only take tiny as DD or Margin% is just 151 as I am stuck on earlier shorts with AC:

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Cheers !
"What Goes Up, Must Come Down." - (c) Sir Isaac Newton - 1647
  • #16,192
  • Mar 19, 2018 8:18am Mar 19, 2018 8:18am
Quoting Davit
{quote} Dear David I am very happy to have you here.Its sort of weird but you do think like me could be you are a designer ?Don't know but I am impressed by your trading. keep it up
Honestly, i appreciate it! You are great teacher for me. You discourse straight about things, you are consistent. When you say that i think like you regarding trading, its a honour for me, since you are in my eyes professional trader.
For me, shift to side of traders making money, making money consistenly, not loosing only was when i really, i underline that word, really understood five fundamental thruths on your first page.

As i said before, tons of things ahead, which i feel i have to get better. But its infinite life cycle. We have to get better day by day and we learn whole life.

Cheers
David
  • #16,193
  • Mar 19, 2018 8:19am Mar 19, 2018 8:19am
Quoting Davit
Watch EA getting close nothing on PA suggesting shorting yet but it should be on your watch list look at anglator wondeful indicator thanks to Griffinsoul and his team developing it. {image}
The angulator really makes the system idiot proof. If a newbie would do exactly what is on page one, just do what they are told they will make money. Especially the risk management part of the system. It is sad to see some people come in who have not read page one.
If you are good at something, never do it for free--Joker
  • #16,194
  • Mar 19, 2018 8:28am Mar 19, 2018 8:28am
Quoting Davit
Starting my week with a bang! Closed my EG shorts Really nice gain very happy with it.Patience pays off Notice price is at 100S I am anticipating a bounce north and may short again above 88.50 {image}
Five Stars . Excellent trading !
Be the change that you want to change
  • #16,195
  • Mar 19, 2018 8:30am Mar 19, 2018 8:30am
Quoting jmn5611
{quote} The angulator really makes the system idiot proof. If a newbie would do exactly what is on page one, just do what they are told they will make money. Especially the risk management part of the system. It is sad to see some people come in who have not read page one.
Thanks buddy Lot of it has to do with trading psychology which effects following a system.This was beautifully manifested on Turtle experiment (google it worth reading) when folks with advance education very bright individuals failed and trading thousands of dollars not even their money.Most failed because they did not follow rules.This part in my opinion takes about 5yrs.Does not come easy but worth striving for.To me 5yrs is the pivot in trading either you gave up or excel.Its up to you
In the meantime my ignore list is keep growing sadly...
cheers buddy green pips
In trading, you have to be defensive and aggressive at the same time
  • #16,196
  • Mar 19, 2018 8:37am Mar 19, 2018 8:37am
Quoting DrForexMD
GM Folks, It looks like UK Brexit deal today has made a "decisive deal" for 2020. Now GU descending from R100. Note I can only take tiny as DD or Margin% is just 151 as I am stuck on earlier shorts with AC: {image} Cheers !
GU has huge probability of dropping hard but I am not touching it.Just like to see how Weds Fed day goes.This is the result of doing the calendar I have a sort of plan what to avoid and what to hit hard.
good luck to you
In trading, you have to be defensive and aggressive at the same time
  • #16,197
  • Mar 19, 2018 8:39am Mar 19, 2018 8:39am
Quoting Recruit
{quote} Honestly, i appreciate it! You are great teacher for me. You discourse straight about things, you are consistent. When you say that i think like you regarding trading, its a honour for me, since you are in my eyes professional trader. For me, shift to side of traders making money, making money consistenly, not loosing only was when i really, i underline that word, really understood five fundamental thruths on your first page. As i said before, tons of things ahead, which i feel i have to get better. But its infinite life cycle. We have to...
Hi David I recall you were short on EG as well.How is that going? and thank you
In trading, you have to be defensive and aggressive at the same time
  • #16,198
  • Mar 19, 2018 8:53am Mar 19, 2018 8:53am
Quoting Davit
{quote} Hi David I recall you were short on EG as well.How is that going? and thank you
I was closing EURGBP last thursday on 0.8830 and made decent profit. I didnt managed that as i always do, split targets at least on two parts. But i take it as lessons learned. I see nice move there today..
  • #16,199
  • Mar 19, 2018 9:15am Mar 19, 2018 9:15am
Quoting Davit
Starting my week with a bang! Closed my EG shorts Really nice gain very happy with it.Patience pays off Notice price is at 100S I am anticipating a bounce north and may short again above 88.50 {image}
wow very well done!
  • #16,200
  • Mar 19, 2018 9:39am Mar 19, 2018 9:39am
EA watch still and setting up nicely since its none USD better for it.
AN worth watching long very strong support level and if AUD monetary policy prints positive economy hints of rate increase this should shoot up
Note weds NZD rate day so keep that in mind.Benefit of doing your homework

So market may continue selling AN or shoot up then drop down again until Weds
Note AN is probably most rangy pair out there and I love it

worth reposing this in case you missed it


Overview
focus is on USD and GBP heavy and watch PA and follow the events and see how market sentiment gears on these pairs.Market PA rules but we like to be prepared!

Monday
AUD Monetary Policy Meeting Minutes
I don’t expect much change here in terms of fundamentals any hint of future hikes may propel AUD north specially AJ and AN watch these pairs
Tues
GBP-CPI y/y if prints negative all G pairs may start declining slowly or remaining same working itself to Thurs when much more important data is coming out.
I think the reason G pairs did not get sold off last week because of GBP events next week and once again market looks ahead!

Weds huge day get ready!

GBP Average Earnings Index 3m/y I believe market will hold GBP neutral until Thurs.

USD the pink elephant in the room. Feds rate and policy formulation
Question is how much of this will be priced in by Weds. Wait and see and don’t be surprised even if Feds raise USD declining quickly right after.

NZD rate expectation unchanged
AUD-Unemployment Rate/Employment Change
Note here if NZD rate stays the same which is expected and AUD prints green expect AN to shoot north!!Be ready here!

Thursday
Big day for GBP
Retail Sales m/m
MPC Official Bank Rate Votes
Monetary Policy Summary
Official Bank Rate
Wait and see the sentiment on this but don’t be surprised G pairs declining specially GC which is seating very high now 182+

Friday
CAD CPI m/m Core Retail Sales m/m
CPI negative and retail positive if prints as forecasted I anticipate positive for CAD and finally may start corrections on CAD pairs specially NC and AC which I am still holding. AC could drop below 100 and NC mid 92
USD Core Durable Goods Orders m/m may not be a mover.
In trading, you have to be defensive and aggressive at the same time
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