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Open Trade near Pivot line (Pivot Point) 16 replies

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Pivot Trading

  • #18,321
  • Edited 8:16am May 7, 2018 8:04am | Edited 8:16am
Quoting el_duende
{quote} You seem to be doing the opposite of the rules? Are you going to hold/add to that long or close it at B/E? I ask as it is a good live training opportunity for everyone to see the method in action when there is a decision to be made. Thanks
El Duende, it is not against rules. It was discussed several posts ago. From pivot or towards pivot both ok under certain conditions.

I closed as it is on picture because of the supply/ demand level marked and TDI in extreme.
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  • #18,322
  • May 7, 2018 8:29am May 7, 2018 8:29am
Quoting kik
{quote} Why? help please {image}
There's nothing wrong with your pivots. There are various places to check online e.g. https://www.actionforex.com/markets/...-pivot-points/ None of them will give an exact number that you should be looking for as they obviously depend on the data source for the previous week's H/L & Close. As Davit says - 10 pips here or there makes no difference as they are zones and not exact numbers.
  • #18,323
  • May 7, 2018 8:45am May 7, 2018 8:45am
Quoting spotdespot
{quote} There's nothing wrong with your pivots. There are various places to check online e.g. https://www.actionforex.com/markets/...-pivot-points/ None of them will give an exact number that you should be looking for as they obviously depend on the data source for the previous week's H/L & Close. As Davit says - 10 pips here or there makes no difference as they are zones and not exact numbers.

Thank you, I will just wait for him to come back and see his chart as well
  • #18,324
  • Edited 11:30am May 7, 2018 9:28am | Edited 11:30am
Quoting katsufxfact
{quote} Thank you, I will just wait for him to come back and see his chart as well
Your pivot levels are fine.

Do not bug DAVIT on his pivot levels. You'll wind up being booted from the group. GUARANTEED

Take the advice of others and carry on.
Trade with confidence, trade without fear.
  • #18,325
  • May 7, 2018 9:49am May 7, 2018 9:49am
Quoting bojack34
{quote} Thanks! I'm trying to add to my arsenal of FA. Do you mind maybe sharing your favorite sites for FA research? This goes for anyone on here that wouldn't mind sharing. Thanks everyone.
Forexlive.com has good quick reporting and a bit of analysis on most big events for all the majors.
  • #18,326
  • May 7, 2018 10:14am May 7, 2018 10:14am
fourth attempt today to jump on the S38, angles still very weak...
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  • #18,327
  • May 7, 2018 11:05am May 7, 2018 11:05am
Quoting kik
fourth attempt today to jump on the S38, angles still very weak... {image}
Hmmm... why are you buying the Euro, given its abysmal fundamentals nowadays? At S38, the odds aren't in your favor.
  • #18,328
  • May 7, 2018 11:19am May 7, 2018 11:19am
Quoting raklian
{quote} Hmmm... why are you buying the Euro, given its abysmal fundamentals nowadays? At S38, the odds aren't in your favor.
yes you're right, closed in 1.928, rejection 2 H1
  • #18,329
  • May 7, 2018 11:28am May 7, 2018 11:28am
Quoting kik
fourth attempt today to jump on the S38, angles still very weak... {image}
You may want to explain further your entry and why.

I am also watching for a potential reversal. My reasoning is: A) The Dollar may be making a retrace, B) The previous week price was pushed down to the S100 level. My trigger would be price to move back above the daily open level.

Attached Image (click to enlarge)
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Trade with confidence, trade without fear.
  • #18,330
  • May 7, 2018 11:53am May 7, 2018 11:53am
Quoting Cryptosurf
{quote} You may want to explain further your entry and why. I am also watching for a potential reversal. My reasoning is: A) The Dollar may be making a retrace, B) The previous week price was pushed down to the S100 level. My trigger would be price to move back above the daily open level. {image}
Anything can happen. Don't you think it'll be safer to wait until it gets to at least S61 even though it went down to S100 last week, given how strongly the USD has been trending and Euro has been printing bad numbers lately?
  • #18,331
  • May 7, 2018 12:04pm May 7, 2018 12:04pm
Quoting raklian
{quote} Anything can happen. Don't you think it'll be safer to wait until it gets to at least S61 even though it went down to S100 last week, given how strongly the USD has been trending and Euro has been printing bad numbers lately?
Of course. I haven't taken the trade yet. My trigger right now would be above the daily open. If it moves further south to S61, that's even better.

Just from my experience trading WP's, coming into the new week, I want to keep an eye on previous week close at outer levels.
Trade with confidence, trade without fear.
  • #18,332
  • Edited 1:13pm May 7, 2018 12:08pm | Edited 1:13pm
Watching

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AUD pairs looking strong, good looking in the H4 timeframe. AUDUSD, GBPAUD, EURAUD (could go between s61-s78 if it breaks current Support), AUDCAD no longer watching for shorts it can quite possibly close near the open drawing a pinbar on the Daily TF.

Plus retail sales coming today which could very easily come green, previous release on April was very green.

"And the current pace of consumption growth is expected to continue."

"The unemployment rate is expected to decline gradually"

" Inflation is expected to pick up gradually"

These factors outlined by the RBA affect retail sales too in my opinion.

S38 tested multiple times, but S61 and S78 also tested on the past. This pair will quite likely reverse this week, either on S38, S61 or S78

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  • #18,333
  • May 7, 2018 3:03pm May 7, 2018 3:03pm
Failure to clear the dark cloud with the bearish AB=CD made this a decent turn!!!
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Happy Hunting!!!
  • #18,334
  • Edited 3:21pm May 7, 2018 3:08pm | Edited 3:21pm
EG with a little stall but i expect this to keep falling!!!
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Happy Hunting!!!
  • #18,335
  • May 7, 2018 3:13pm May 7, 2018 3:13pm
GN, really was expecting this to fall a bit more before the pop!!!
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Happy Hunting!!!
  • #18,336
  • May 7, 2018 3:36pm May 7, 2018 3:36pm
Quoting Cryptosurf
{quote} You may want to explain further your entry and why. I am also watching for a potential reversal. My reasoning is: A) The Dollar may be making a retrace, B) The previous week price was pushed down to the S100 level. My trigger would be price to move back above the daily open level. {image}
Hello Cryptosurf - if you don't mind me asking, how do you setup your windows to see the previous week's pivot, resistance, and support points? Are there some additional configurations that need to be set, or indicators that need to be loaded?
  • #18,337
  • May 7, 2018 4:29pm May 7, 2018 4:29pm
EN...Was a tad late!!!
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Happy Hunting!!!
  • #18,338
  • May 7, 2018 4:31pm May 7, 2018 4:31pm
Thats a first for no reason at all!!!!
Attached Image
Happy Hunting!!!
  • #18,339
  • May 7, 2018 4:35pm May 7, 2018 4:35pm
While the OP is away, the traders will play.....
  • #18,340
  • May 7, 2018 5:01pm May 7, 2018 5:01pm
Quoting JayTradeNow
While the OP is away, the traders will play.....
then when the OP comes back the boot will come out and the traders will be gone.
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