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Pivot Trading

  • #18,361
  • May 8, 2018 5:56am May 8, 2018 5:56am
i am starting to buy AJ and sell UC.
trading is like dancing, don't think and just listen to the music!
  • #18,362
  • May 8, 2018 6:42am May 8, 2018 6:42am
Quoting snail69
And want to add that today is Tuesday. Tuesdays and Thursdays are what I call runner days. As Wednesday is often start or end of the move... When one gets thing right, it is like a child in a candy store....
Well done Snail and good for you..would also soon to be in that candy store....smells delicious. Thanks for your posts..
  • #18,363
  • May 8, 2018 7:37am May 8, 2018 7:37am
Quoting snail69
And want to add that today is Tuesday. Tuesdays and Thursdays are what I call runner days. As Wednesday is often start or end of the move... When one gets thing right, it is like a child in a candy store....
Did not notice this, now I'm curious to see.
  • #18,364
  • May 8, 2018 7:37am May 8, 2018 7:37am
Quoting snail69
And want to add that today is Tuesday. Tuesdays and Thursdays are what I call runner days. As Wednesday is often start or end of the move... When one gets thing right, it is like a child in a candy store....
You are on fire Snail!
  • #18,365
  • May 8, 2018 7:40am May 8, 2018 7:40am
El Duende, it this live enough ?
Attached Image (click to enlarge)
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  • #18,366
  • May 8, 2018 7:51am May 8, 2018 7:51am
For the benefit of learning, may I ask the reason for entering?

As I see this pair:

Attached Image (click to enlarge)
Click to Enlarge Name: audcad-m30-international-capital-markets.png Size: 110 KB


Technical near short term support and trendline (retested from both sides), arrows not pointing strongly downwards, but breaking pivot with a retest. Fundamentally, we don't know what the consequences of Trump's speak today will be specially with the speculation on Iran's deal and its consequences on oil price, so CAD is crazy and personally don't want to touch it much.
  • #18,367
  • Edited 8:26am May 8, 2018 8:15am | Edited 8:26am
hello traders. I am new in this thread.
Please find my proposal for weeks below. just my point of view. good luck!
(thanks suirad0)
Attached Image (click to enlarge)
Click to Enlarge Name: davits1b.jpg Size: 142 KB
  • #18,368
  • May 8, 2018 8:19am May 8, 2018 8:19am
Quoting keepit
hello traders. I am new in this thread. Please find my proposal for weeks below. just my point of view. good luck! {image}
should we make a guess which pair it is?
  • #18,369
  • May 8, 2018 8:19am May 8, 2018 8:19am
Quoting keepit
hello traders. I am new in this thread. Please find my proposal for weeks below. just my point of view. good luck! {image}
Your chart tells nothing. Cant even see what pair it is.

I suggest you read and comprehend the first page before posting. What you posted has nothing to do with this system.
Trade with confidence, trade without fear.
  • #18,370
  • May 8, 2018 8:20am May 8, 2018 8:20am
Quoting Nenuser
For the benefit of learning, may I ask the reason for entering? As I see this pair: {image} Technical near short term support and trendline (retested from both sides), arrows not pointing strongly downwards, but breaking pivot with a retest. Fundamentally, we don't know what the consequences of Trump's speak today will be specially with the speculation on Iran's deal and its consequences on oil price, so CAD is crazy and personally don't want to touch it much.
I use 4 hours to understand what is happening. There is SD level marked. Price reached it and instantly went away. There is double top which evokes top of a "M" which is to be gartley upside down or crab or.... who knows. Then I look for a potential exit.On dailies can not see anything. Weeklies, oh look ! Somewhere between 0.95386 and 0.95462. I will watch TDI movement to decide where to exit.

AUD hits 48 weeks low.

Fundamentaly :Oil prices have surged partly because of mounting expectations that President Trump will kill the 2015 agreement, which allowed Iran to export more crude. Trump must decide by May 12 whether to re-impose sanctions on the OPEC nation.

CAD is strong.

All in place.
  • #18,371
  • May 8, 2018 8:23am May 8, 2018 8:23am
Quoting Nenuser
For the benefit of learning, may I ask the reason for entering? As I see this pair: {image} Technical near short term support and trendline (retested from both sides), arrows not pointing strongly downwards, but breaking pivot with a retest. Fundamentally, we don't know what the consequences of Trump's speak today will be specially with the speculation on Iran's deal and its consequences on oil price, so CAD is crazy and personally don't want to touch it much.
AUDCAD on my chart I see that bearish. weekly is choppy, but daily still going down.. - just my humble opinion..
  • #18,372
  • May 8, 2018 8:26am May 8, 2018 8:26am
Quoting snail69
{quote} I use 4 hours to understand what is happening. There is SD level marked. Price reached it and instantly went away. There is double top which evokes top of a "M" which is to be gartley upside down or crab or.... who knows. Then I look for a potential exit.On dailies can not see anything. Weeklies, oh look ! Somewhere between 0.95386 and 0.95462. I will watch TDI movement to decide where to exit. AUD hits 48 weeks low. Fundamentaly :Oil prices...
Thanks Snail for letting us pick your mind, really helpful!
  • #18,373
  • May 8, 2018 8:27am May 8, 2018 8:27am
Quoting Cryptosurf
{quote} Your chart tells nothing. Cant even see what pair it is. I suggest you read and comprehend the first page before posting. What you posted has nothing to do with this system.
sorry for too much cutting the printscreen, posted new one
  • #18,374
  • May 8, 2018 8:29am May 8, 2018 8:29am
Quoting snail69
{quote} There is double top which evokes top of a "M" which is to be gartley upside down or crab or.... who knows.

It`s a bat advanced formation completing CD leg a little bit under S38 line.
  • #18,375
  • May 8, 2018 8:33am May 8, 2018 8:33am
Indeed AB=CD waiting patiently for EURJPY
watch on daily time frame
  • #18,376
  • May 8, 2018 8:42am May 8, 2018 8:42am
Quoting keepit
{quote} AUDCAD on my chart I see that bearish. weekly is choppy, but daily still going down.. - just my humble opinion..
You're trading PA and bias, not pivots.
Trade with confidence, trade without fear.
  • #18,377
  • May 8, 2018 8:46am May 8, 2018 8:46am
AUDCAD +342

I spotted missed SD level on Dailies. It is the nature of FX market. It is very fluid and one has to adapt.

Tomorrow is Wednesday we may go up, who knows.
Attached Image (click to enlarge)
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  • #18,378
  • May 8, 2018 8:51am May 8, 2018 8:51am
Quoting Cryptosurf
{quote} You're trading PA and bias, not pivots.
you are right in this case, but in my first post here (above) I am trying to use pivots (and globally I am searching for other opportunities on different pairs).
I knew It will not be easy to see as it should be, but someone wrote today that we need to practice so I do. and reading first page + shorts of Davits rules is easy, but understanding not is not always so
  • #18,379
  • May 8, 2018 9:11am May 8, 2018 9:11am
Quoting keepit
{quote} you are right in this case, but in my first post here (above) I am trying to use pivots (and globally I am searching for other opportunities on different pairs). I knew It will not be easy to see as it should be, but someone wrote today that we need to practice so I do. and reading first page + shorts of Davits rules is easy, but understanding not is not always so
Actually its not that complicated.

Quoting Davit
Here is how to trade pivots.
As price travels progressively away from weekly pivot it becomes more likely to go into correction.
61 S/R key zone 78R/S is Scott Carney's last chance for reversal (spikes stops taken before reversal)
100R/S another major zone.
Should price smash 100 S/R then you are in strong trend supported by fundamentals.
Pivots can be traded both with the trend and against.

I personally don't subscribe to typical bookish mentally that if previous H4 is bear then assumption should be another bear candle.This is very...
Its that simple.
You see where price was rejected off key S/R levels?

Attached Image (click to enlarge)
Click to Enlarge Name: EA.PNG Size: 107 KB
Trade with confidence, trade without fear.
  • #18,380
  • May 8, 2018 9:18am May 8, 2018 9:18am
Quoting Cryptosurf
{quote} Actually its not that complicated. {quote} Its that simple. You see where price was rejected off key S/R levels? {image}
Appreciate your help Cryptosurf.
I was reading your screen + your Davits qute = I understand, that R/S61, R/S78 and 100 are more, more important than my R38 witch I considered on my EURGBP chart, thats why you wrote I do not trade pivots?
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