Pivot Trading

I took AUDCAD home due to the situation on left to maximaze pips. For certain pairs like AUD, NZD is good time to pocket pips after 8 am Sydney time. I might reload in the marked zone.

Plan for the week is same always AB = CD. I love this equation and applied it also in this place. First part is technical aspect (AB) which I can see and then CD which is fundamentals and related news or market sentiment. Not predicting just reacting. When those two are ok after major news, I start to move.

I am riding mine.May not be the best decision but I don't like taking TP before major markets open like London NY
Higher TF green so riding it

major support here
pivot not updated once again! 61S is from last week!!!!If you ask about this I will ban you flat!

First crack at calendar review/analysis. Just reviewing the upcoming releases/events for the week boosts confidence. Even if I end up being wrong, it helps to feel more "in tune" with the market.

Monday
EUR - Large block of intermediate EUR (Germany + France) news - last prints for PMI in the Eurozone have been less than forecast - if they continue to print short, may show weakness in EUR crosses.

CAD - Poloz speaks - if Poloz's release is on the dovish side, may continue to soften the CAD.

AUD - CPI data - last couple of CPI releases have fallen short of the forecast. If the trend continues the AUD may drop even further against the USD and other crosses. May push AUD/USD to the "zone".

Tuesday
BANK HOLIDAY for NZD + AUD

USD - Consumer Confidence - small possibility for continued support of USD if it prints green. Red print might have muted effect.

Wednesday
USD + CAD - Crude Oil Inventories

CAD - Poloz speaks - if Poloz's release is on the dovish side, may continue to soften the CAD.

Thursday
EUR - OVERNIGHT RATE - widely expect to keep current rate with no change to monetary policy. If this is the case, along with (possibly) poor numbers from Monday's PMI, looking for EUR weakness + short opportunities.

JPY - OVERNIGHT RATE - expected to hold the current rate - mostly no change to economic outlook report. Likely little overall effect on JPY.

Friday
EUR - Spanish CPI and GDP - long trend of disappointing CPI numbers with meeting forecast for GDP. May continue to soften up EUR and be the last event to push crosses even lower before Friday aft. profit taking.

GBP - Prelim GDP - decent printings as of late - mostly exceeding forecast. Along with BOE Carney speaking. Soft numbers/dovish tone may push GBP to the "zone" for some setups next week.

USD - Advance GDP and Price/Cost Index - the outcome of this release will contribute to the market's overall outlook on the upcoming rate decision. Will watch closely and be out of any USD crosses by release time.

Overall view is slight to moderate EUR weakness depending mostly on Thursday's outcome. Also possibility of continued CAD weakness throughout week especially if Poloz has a dovish tone in his releases. Wait and see on AUD. No major change/news is anticipated for JPY. Will keep run-up to USD rate decision in the back of my mind if entering any majors but most likely best to stand on the sidelines.

Hi: Practice account. Building longs on GU. Move away from S38, (was S100 last week). Looking at EJ to build long positions, eye on S38 and WP. Will see what unfolds. Dave.

EA at crossroads key RN 1.60

This is my free signal service to forex factoryLets take all retail money back from Brokers

EURCAD

a) 15 min trade +100

putting odds in favour using all available tools at the moment:

Entry: AB=CD, wedge, pivot, divergence, TDI, levels, fibs, RN, double top on 1H
Exit: TDI, fib, RN

b) preparation for news: AB part (technical) all marked, with leaning toward R100

AN is ranging beautifully. Check it out.

V. Good analysis!

I love your news analysis- so informative. What of your news analysis for the week sir?

Olufemi

live now

few pages back...thanks

Thanks! Keep it up brother.

Olufemi

I am with you. Live also...
Olufemi

you are a bit late could bounce north ranging but I do believe ECB policy might be dovish sending this lower 59 even lower then that

My pivot from my broker did not touch R38 as yours.

Olufemi

same with my broker

Treat the pivots as an 'area' of interest.

GU- S38 nice area for a bounce, watching PA to see if it will start to range. My bias for the pair is still down. GL

Hi Fibo,

Is there any way to modify the pivot's with this version? I like the idea of the alerts, but the levels are way off for me and I can't see how to modify this?

Thanks,
Ben

EURCHF since friday.
is divergence & convergence still a thing ?