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Pivot Trading

  • #17,421
  • Apr 19, 2018 6:02am Apr 19, 2018 6:02am
Quoting starpro
I have to agree re short Vicky BUT BUT BUT what are the ODDS around pivot line?{image}
Lot of things you are missing.

1st fundamentally inflated GBP finally is coming back to earth after decimal numbers and week is coming to close.Think about it why would MM buy GBP after shitty numbers with 2days left to trade.More likely scenario is further dropping this hot potato.
2nd in downtrend selling rallies apply and uptrend buying dips.This is trading 101
Selling at pivot is acceptable when it aligns with chart and fundamentals.Is it ideal? No but certain situations yes its ok.
In trading, you have to be defensive and aggressive at the same time
  • #17,422
  • Apr 19, 2018 6:05am Apr 19, 2018 6:05am
NC for the last cpla days I'm asleep when the real money is made ,
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  • #17,423
  • Apr 19, 2018 6:07am Apr 19, 2018 6:07am
Quoting starpro
OK Davit , with all due respect , I have difficulty with time difference and broker difference ,,, even the settings of davits fibo method .... post your chart of the time and I will see if I can correlate my settings ... (approx. 6000 pts (?60pips?) this week must be somewhere close to your settings ... I'm very happy to be shown the way forward ...cheer SP
solution is on 1st page and you can use AU chart I just posted.Its not difficult follow the direction.
In trading, you have to be defensive and aggressive at the same time
  • #17,424
  • Apr 19, 2018 6:08am Apr 19, 2018 6:08am
Quoting Davit
{quote} AU chart I posted yesterday Almost I feel like I am providing signal service here....lol still I don't see enough folks posting their winners...but I read plenty of Why this and why that... {image}
i have different candle. i dont see shooting star in my chart
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  • #17,425
  • Apr 19, 2018 6:08am Apr 19, 2018 6:08am
NO probs M8 ,,,, I'm a patient man , and YOU my FREIND have TRANSFORMED my trading after 9yrs .... Please ACCEPT my undying GRATITUDE SP
  • #17,426
  • Apr 19, 2018 6:10am Apr 19, 2018 6:10am
Quoting starpro
Vicky .. the ODDS around the pivot line are 50/50- not good imo
While I do not normally like justifying or explaining my trades, I'd want to reply to your post. GU fell from the pivot zone yesterday following negative data; most ppl including me made several pips on that move.

Since yesterday's fall, GU retraced back to the pivot and has been lurking around it without any serious push to break the level. Since today morning GU has made many attempts towards the pivot and failed to break it; this is where I entered first. GU had an important data release today noon (retail sales) which was forecasted to be negative, which would have been another reason for pound sell off continuing yesterdays downward push. Right at the time of data release, GU dropped below today's open and struggled closing above the level. Once the data was released and printed red, I entered additional positions.

Now I did not know if this was going to be a sure winner, no one knows, but for me I did have lot many factors on my side which for me is a high probability trade. BTW, I did manage 160 pips from this trade and already closed it. Managed around 1000 pips on GU between yesterday and today.

As I said, I do not like justifying my trades since instead of writing I could have tracked my other trades or planned some new ones, but I hope this adds some clarity. Besides, there is no one size fit all in trading, so if you understand what you are doing and what the downsides could be, you should be OK.
Fall seven times, stand up Eight! #GGMU
  • #17,427
  • Apr 19, 2018 6:14am Apr 19, 2018 6:14am
Quoting General Lee
{quote} i have different candle. i dont see shooting star in my chart {image} {image}
and what can I do about this?Perhaps I have fraudulent broker who uses in house software to generate spikes and your broker more honest.
Its not the point is it?Point is AU failed to break 38R
In trading, you have to be defensive and aggressive at the same time
  • #17,428
  • Apr 19, 2018 6:15am Apr 19, 2018 6:15am
I mean, is this because of different brokers time?
  • #17,429
  • Apr 19, 2018 6:16am Apr 19, 2018 6:16am
Quoting General Lee
{quote} i have different candle. i dont see shooting star in my chart {image} {image}
Candle formation depends on OHLC price quotes which will always vary among brokers depending on price quotes, time zones etc. Dont bother comparing candle formations; Davit is showing a rejection at a pivot level, focus on that. Cheers!
Fall seven times, stand up Eight! #GGMU
  • #17,430
  • Apr 19, 2018 6:18am Apr 19, 2018 6:18am
Well I'm very sorry I offered my thoughts ..... I do not trade near pivot sorry that's just me ... PLEASE IGNORE ...this weeks trades
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  • #17,431
  • Apr 19, 2018 6:19am Apr 19, 2018 6:19am
Quoting vickym
{quote} Candle formation depends on OHLC price quotes which will always vary among brokers depending on price quotes, time zones etc. Dont bother comparing candle formations; Davit is showing a rejection at a pivot level, focus on that. Cheers!
thanks mate
  • #17,432
  • Apr 19, 2018 6:19am Apr 19, 2018 6:19am
Thank You Davit .....
  • #17,433
  • Apr 19, 2018 6:23am Apr 19, 2018 6:23am
Quoting starpro
Well I'm very sorry I offered my thoughts ..... I do not trade near pivot sorry that's just me ... PLEASE IGNORE ...this weeks trades {image}
Here is the problem Starpro
Its ok asking questions.I do respect honest inquires but what's not ok is challenging other people's trades as though you understand more.You may not understand more and best in my opinion to stay quiet let the information and trading experience enrich you and make you a stronger trader.
Take more and say less
You don't have to respond to this.I prefer you don't please
In trading, you have to be defensive and aggressive at the same time
  • #17,434
  • Apr 19, 2018 6:23am Apr 19, 2018 6:23am
Quoting starpro
OK Davit , with all due respect , I have difficulty with time difference and broker difference ,,, even the settings of davits fibo method .... post your chart of the time and I will see if I can correlate my settings ... (approx. 6000 pts (?60pips?) this week must be somewhere close to your settings ... I'm very happy to be shown the way forward ...cheer SP
Check post: https://www.forexfactory.com/showthr...8#post10845248

Go through that to make sure you are on right time for pivots.
  • #17,435
  • Apr 19, 2018 6:25am Apr 19, 2018 6:25am
Quoting Davit
{quote} and what can I do about this?Perhaps I have fraudulent broker who uses in house software to generate spikes and your broker more honest. Its not the point is it?Point is AU failed to break 38R
To add to this, this is why Davit insists that the pivots are aligned to NY 1700. This when the FX market resets. This is because it does not matter the candle formation, we will all see the same thing, no matter where on earth we are.

Quoting General Lee
I mean, is this because of different brokers time?
Please see above.
If you are good at something, never do it for free--Joker
  • #17,436
  • Apr 19, 2018 7:07am Apr 19, 2018 7:07am
Hello Friends and dear Davit.
I do not know how it happened
but my first attempts:
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Thank you for your ideas!
  • #17,437
  • Apr 19, 2018 7:08am Apr 19, 2018 7:08am
Quoting Davit
{quote} AU chart I posted yesterday Almost I feel like I am providing signal service here....lol still I don't see enough folks posting their winners...but I read plenty of Why this and why that... {image}
I got in AU too, Shorted NC couldn't break pivot, rejection of my trendline and divergence.

Also Red news last night for the AU Employment Change came out bad.
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  • #17,438
  • Apr 19, 2018 7:12am Apr 19, 2018 7:12am
Quoting ManUkr
Hello Friends and dear Davit. I do not know how it happened but my first attempts: {image} {image} Thank you for your ideas!
It happened because after 2years and thousands of $$ trades later it has proven itself to be viable solid system.
In trading, you have to be defensive and aggressive at the same time
  • #17,439
  • Apr 19, 2018 7:32am Apr 19, 2018 7:32am
Quoting Davit
{quote} It happened because after 2years and thousands of $$ trades later it has proven itself to be viable solid system.
LMAO - this has got to be one of the best quotes I've seen on here in a long while. Well put Davit!

Cheers,
MM
  • #17,440
  • Edited 8:16am Apr 19, 2018 7:36am | Edited 8:16am
Hey guys!

I am long USDCAD 1.26000 and bouncing up from 50.0 and 61.8 fib levels. Also, fundamentally, USD is much stronger than CAD. If Brent breaks R61 and 75.0 level then price may reverse even more, be careful.

My entry was really badly timed , there is a nice inside bar on the 15m chart that would have been a much better entry.
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