Pivot Trading

Thank You Davit ... I knew if I never gave up I would find something that made $$ consistently .I cannot Thank you enough . 1 chart fro today collection of total 2756 pts Cheers SP

You are removed for second time! Don't try again you will be removed again and again!
Try different endeavor trading is not your forte

You got 1 trade on this thread! I suggest you stop posting gibberish until you have 100 trades here...
going to make it easier for you
removed

Looking for NZDUSD shorts, price may come back up to R38 and bounce down. Probably after Wednesday CPI announcement. Market is expecting .5% that is .4% more than last quarter. There is confluence also with harmonic pattern as seen in the daily chart. NZDJPY showing same pattern too. Overall, I will be bearish this week for NZD, but still waiting for more PA to unfold. What's your opinion?

Good luck to all in the start of this new week!

Charts:

Hi: Watching PA on GU, @ R61 for short. UJ also on radar for long, @ WP, so 50/50 area. Dave.

Speculators get paid for buying what nobody wants, when nobody wants it, and selling what everybody wants, when everybody wants it.

You will be more successful when you learn to control your emotions. These are strong words of advice first offered by trader Edwin Lefevre in his book entitled Reminiscences of a Stock Operator in 1923. This book is well worth a read to any trader.

Be cautious, be cool and be patient! Wait for the right conditions in the market before entering it. Sit tight when you are losing, do not let fear grip you, have courage in your convictions. Detach yourself from your emotions at that point and focus on your trading system. It would also help if you detach yourself from your computer screen! If you have placed your stop loss it is not necessary to be constantly watching the screen! This means that you are unsure of yourself.
Don’t be afraid to let go of a losing position. Do not add to a losing position! It is best to average up not down. So add on winning positions instead of on losing ones! New opportunities will always arise.

The bottom line is that having the right attitude and the right mindset will make you more successful in trading!

https://www.xm.com/education/chapter...ers-psychology

hımmmmmmmm

Is UK Data Really So Important if a Rate Hike is So Priced in?

The UK will release a variety of important economic reports over the coming days which, despite the multiple distractions elsewhere, will attract the attention of traders. With the next Bank of England meeting a little over three weeks away, the data over the coming days could play a big part in whether the central bank raises interest rates or not.

Policy makers in recent months have strongly hinted at a rate hike in the coming months and specified in the minutes from the March meeting that the May economic forecasts will allow the MPC to assess the underlying momentum and extent of price pressures.

It’s not unusual for central banks to announce policy changes alongside new economic forecasts as it gives them the opportunity to explain the move alongside fresh data. While this isn’t necessary and may become less common later on, it is useful in the early stages of a tightening cycle.

Two policy makers – Ian McCafferty and Michael Saunders – voted for a hike at the last meeting, a move which some believe signals – undoubtedly intentionally – that others will shortly follow, a pre-rate hike wink if you will.

17th April

1. 11:30: GBP — Avg Wk Earnings 3M YY
2. 11:30: GBP — Claimant Count Unemployment Change
3. 11:30: GBP — ILO Unemployment Rate

18th April

1. 02:50: JPY — Trade Balance
2. 11:30: GBP — CPI
3. 12:00: EUR — CPI (Inflation )
4. 17:00: CAD — BoC Rate Decision

19th April

1. 01:45: NZD — CPI
2. 04:30: AUD — Employment
3. 04:30: AUD — Unemployment Rate

20th April

1. 02:30: JPY — CPI
2. 15:30: CAD — CPI

*All times are Server Time (GMT+3).

NU

GU S on watchlist for PA.

Average Earnings Index 3m/y red.

Also, 127 fib proj from bullish 5-0 very close to WR78.

GA S making triple top with bearish shark H4.

GU update:


Took profit for now at 1.4327. I do not believe that the data is sufficient enough to make the BOE change its view. Data was too mixed however it gave GBP buyers a good excuse to take profits. I would not be surprised to see the move retracing again. My expectation remains that the real push happens tomorrow - providing data on GDP comes in red that we should see a push lower. Should the data be better than expected then all bets are off and I will not short the GBP pairs for the foreseeable future.

I however will closely monitor PA and TDI especially at R61 to reenter if necessary

GBPUSD

I know we don't do history, but this week's R61 is about at the same level as last week's R200!

GU even touched R78 perfectly with a shooting star doji at the London Open hour, stophunting the high of the 25 January.

GU is southbound IMHO.

Short GU from last week, slight DD at the moment but trade is still viable, no emotion.

Good resistance at R78 this week in line with daily resistance.

Hi Jester
How do you know what BOE view is to begin with?

Fantastic! Always challenge the official view!

AC L @ support (10 year only weekly support).

WTI crude beginning to crater.
Take advantage of UC L, now pulling back, but probably not for long.