Pivot Trading

EA right on the dot flipped. You want EDGE? You got EDGE

Hi Axleman I listen just about everything metal folk classical and ton in between. I get easily bored from same music hence keep listening different things.
I noticed since I started trading my attention span got lot shorter.I used to play chess 15-30min a game now only 5min games.So used to switching charts that even having conversation too long bores me.
Causality of trading....Everything has a price...everything is achieved that has value has price.I always feel bad when Olympic gymnast out of nerves falls down on exercise he/she performed flawlessly in practice hundreds of times but on stage one fall and there goes 4yrs of hard work.
In trading is same I put way too many hours but that's the difference why year ego my account was 20k and now at 79k
I sleep less read more trade more pay more attention to everything.There is no real magic really...Its time invested.
good luck

Hey Axleman! You from Vancouver, BC? If yes, I'm just a bit outside in Abbotsford. Like your taste in music. Green pips

Davit Could you post a USD MXN chart with your template I cannot. I have 2 accounts and 1 has it's own trading platform. The other account I have has MT4 with your chart setups however I don't have USD MXN as a pair that I can trade on the account. I would like to see where it is at your levels and then share a trade I call the Corona trade. It does not work every month and it may not work this month as the USD has just touched a level of support from December and January looking at a Daily chart.

I use Oanda with a daily start at midnight NY time....I notice your chart starts day like most mt4 that start day at the end of NY session....have you changed brokers....for the life of me I cannot get my pivot lines exactly like yours....I know I'm in the zone so no worries, but I would like to tighten up a bit...

Forex Today: Kiwi weakest amid Yuan devaluation/ risk-off, eyes on Carney’s speech
27 June 2018, 07:57

Forex Today was mainly driven by risk-off flows as the chances of a full-blown US-Sino trade war increase following reports that the Chinese President Xi called on all the provinces and ministers to prepare for a trade war.
As a result, the safe-haven got a boost at the expense of the higher-yielding/ risk currencies such as the Antipodeans. The OZ currencies also felt the brunt of the ongoing slide in the Yuan, as the Chinese currency hit six-month lows versus its American rival amid intensifying trade war fears. The Kiwi ignored upbeat New Zealand trade balance data, which showed a surplus of $ 294 million in the reported month while positive oil prices also had little impact on the commodity-currencies.
On the other hand, gold prices on Comex were unperturbed by rising trade war fears and dropped below $ 1260 levels to hit fresh yearly lows. Meanwhile, the Asian equities traded mixed, with the Chinese stocks dragging rest of Asia lower.

Main topics in Asia
NZ Trade Balance surges to $294 million in second-best month ever for exports
Exports for the month of May in New Zealand's economy surged to their second-highest reading for any single month, ticking upwards by 10% to clock in at $5.4 billion, bringing New Zealand's Trade Balance to a higher-than-expected $294 million for May.
BoJ's Amamiya: BoJ long way from exit
Bank of Japan (BoJ) Deputy Governor Masayoshi Amamiya is hitting wires with his assertion that the BoJ is still deeply entrenched in its current policies, and is unlikely to exit from current mechanisms anytime soon.
China fixes Yuan mid-point at weakest level since Dec. 25, 2017
Weaker Yuan is likely China's answer to Trump's trade war. The People's Bank of China (PBOC) set the Yuan mid-point/reference rate at 6.5569 today - the weakest fix since Dec. 25, 2017.
Russian Energy Minister meets with US Treasury Sec Mnuchin
Russian Economic Minister Alexander Novak has met with the US Treasury Secretary Steven Mnuchin, and have discussed the ongoing sanctions against Russia by the US.
China’s Commerce Ministry: Will evaluate planned us investment curb's impact on companies
China’s Commerce Ministry is out with a statement on Wednesday, announcing that it will assess the potential impact on the Chinese firms of expected US investment curbs-.
China’s President Xi calls on provinces, ministries to prepare for full-scale trade war
China’s President Xi Jinping reportedly spent over two hours talking about US-China relations, urging the minister to get ready for a full-blown trade war, according to SGH Macro Advisors.
Gold hits fresh 2018 low, RSI at lowest since December 2016
Gold is likely losing its allure as a safe haven asset. The yellow metal fell to $1,253 in Asia - the lowest level since December 18 despite the rising odds of a full-blown trade war between the US and the rest of the world.
HIBOR hits highest level since 2008
The three-month Hong Kong Interbank Offered Rate (HIBOR) rose to 2.08964 percent - the highest level since 2008, according to Reuters.

Key Focus ahead
There has been nothing of note, in terms of economic data, so far this week from the EUR docket and today’s EUR macro calendar is no different. Hence, all eyes remain on the Bank of England (BOE) Governor Carney’s speech due at 0830 GMT. Carney is due to hold a press conference following the release of the Financial Stability Report (FSR). Meanwhile, the UK CBI realized sales data will help keep the EUR. GBP traders somewhat busy.
In contrast, the NA calendar remains eventful, with a string of economic releases from the US docket, including the durable goods and goods trade balance, due at 1230 GMT. Later on, the Swiss National Bank (SNB) quarterly bulletin will be published, followed by the US pending home sales and EIA crude stockpiles data.
Besides, speeches by the FOMC member Quarles and Bank of Canada (BOC) Governor Poloz will be reported at 1500 GMT and 1900 GMT respectively. Also, in focus will remain the Reserve Bank of New Zealand (RBNZ) cash rate decision scheduled at 2100 GMT. The RBNZ is likely to steer the Official Cash Rate (OCR) on a steady course at a record low of 1.75%
EUR/USD offered at 30-day MA, golden warning ahead of US durable goods report
The 30-day moving average (MA) is proving a tough nut to crack for EUR bulls despite rising odds of a full-blown trade war between the US and the rest of the world.
GBP/USD holding just above 1.32 ahead of BoE's Carney speech
Wednesday brings a hefty outing from the BoE's Governor, Mark Carney, who will be speaking at 08:30 GMT when the central bank releases their latest Financial Stability Report, and Carney is expected to walk markets through the release's key points.
RBNZ OCR review to come and go without any ruffles - NAB
Analysts at National Australia Bank (NAB) offer a sneak peek at what to expect from Thursday’s Reserve Bank of New Zealand (RBNZ) interest rate decision due at 2100 GMT.

US-China trade war has escalated - Nomura
27 June 2018, 08:09

Takahide Kiuchi, Executive Economist at Nomura, notes that the US-China trade war has escalated, with the two countries slapping tit-for-tat retaliatory tariffs on each other.
Key Quotes
“In a worst-case scenario, the two countries could end up imposing additional tariffs averaging around 10% on all imported goods from the other country. According to estimates by the Organisation for Economic Cooperation and Development (OECD), that worst-case scenario would reduce US GDP by 2.2% and China’s GDP by 1.7%.”
“Combining the OECD estimates with the macroeconomic model published by Japan’s Cabinet Office, US-China trade frictions could reduce bystander Japan’s GDP by 1.9%, a negative impact somewhere in between the impact on the economies of the two directly involved parties.”
“Moreover, given the expansion of the global value chain and the complicated global trade system, the negative impact on economic activity in third-party nations, including Japan, may not be fully captured by the estimates generated by these models.”

like i said it doesnt work like that all the time,imagine where i will be ONLY with such kind of trades LOL. but when does work then is amazing.
you think sometime i dont even look at tdi,i look only after i take the entry and guess what,it is at max OB or OS,so is always at extremes.i did this a lot and might be also some experience i got with time.
you wonder now when some guys trade based on some strength indicators for example.when strength is strong boom they enter,and in next 5 minutes guess what? pair does take the opposite direction and they are short at very low or long at very high.is same here but opposite what i'm doing.one pair might be strong trend up or down but inside those trends are the swings ,and there we come to hunt to sell at high and long at low.i dont care where the trend goes cos inside one big trend you can catch 30-100 big swings moves.just trying to guess when candle lose the momentum force and power then just be sure to watch fundamentals and to fit with zones created by pivot levels.
cheers

HI Davit,
Ya into the Ska punk lately, grew up on classical (parents). My attention span is short but intensely focused turns into a long time.LOL...hence working hard to adapt patience in trading and letting DD not drag "me" down...the pivots add so much to the edge...super happy to find this thread...meant to be for me I guess? Timing? your results inspire me as well as the other amazing traders that post here.
Keep on keeping On!
Axleman

Swede...read page 1...then re-read page 1..then again & again...also spend time searching through posts...
check this...mine are not perfect also on Oanda.
https://www.actionforex.com/markets/...-pivot-points/

Cheers!

this is what you must focus on first before anything,then watch what fundamentals can come into your way:
''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.''

we will never know what market will prepare us but with this pivot levels now at least i know when to maximize my focus,i ''wake up'' to say so, when price come into 61-100 area.i cant guess exact the level but i know i am ''in the zone'' so i get ready for something,if is R61-100 ready for sell if is S61-100 i am ready for buy.
smash 100 for me it means strong hit and break on that level.some volatile pairs can break 100 even 50 pips and still have chances to come back into strong correction,so if youre new to this dont jump so easy in entries with big movers pairs.ADR can help you on this one.
cheer up

How this will work? no ideea and i am really not worried.why? because i am in the zone ,i have my edge on play and if price will go into correction as i try to guess will be perfect.if price will go against me then i will manage by my rules and my edge limit will save me from anything bad.
what i will do? we will see later what market will do and i will always comply with what market does and tells me.i just follow what price does and never play smart ass thinking i am better than the market.If price play against me in the ''breathe zone'' i will add to trade (NO MARTINGALE) if my edge will be hit then i'm out ,simple as that can be.
I said yesterday i will wake up for NJ when will be in ''my zone'',so now is there.might go for S100? very possible.i will decide what to do when we get there.

Eurgbp might do something as is in the zone,but we have Carney talking in about 15 minutes so i decide to wait and see.if you watch also H4 and D1 you may figure the zone very easy.

nice trading!
husky, how do you handle the sleeping times? especially the positions which are in a DD. or do you close your trades at your trading-dayend?

my 10 am is London open.so i am in a very nice time zone where i catch LO and NY .usual asia is when i sleep.and i manage to sleep before 2 am.but if my trades dont look like straight positive direction or not enough pips i close them before to sleep or at least half of them in specific pairs.for example if at one AU pair i have 20 pips profit before 2 am i close it cos my 2 am is when AU is awake and anything can happen until i wake up.i try to let pairs open who only make me feel confortable looking at big picture.and i think one BE day is a good day,and thats because we are always at market hand.many are sad after one BE day or 20-30 pips loss but thats not the way to think.

thx for the informative answer, deep knowlegde from this! it took me years to realize that...

Thank you for your time... I have a last question, when you decide you will close your trades in a loss? When price breaches a certain pivot level or when you see PA is changing structure not in your direction? Probably also applicable for when you exit your trades in profit

I ask this, because sometimes I have closed some trades in a loss after a huge breach o 100 level just to find out price retracing back, probably something that I have also to work in on the emotional way as when you see this kind of behaviour you start thinkin, shit, I screwed up

to talk about loss when we trade 28 pairs is a bit more to say.cos for example GA or EA can break 100 level with many pips and might confuse you to think is a hard break and close in loss and as you said will come nice back on correction.the exit can be shown by the market structure looking at more TF's.i cant tell you to follow my edge because that may not fit with your account,and will be the biggest mistake to copy MM from someone else belive me.I'm doing this since enough time to know copy from others will not work.
all this are depending on each trader personal plan as Davit said.If you are at the level where you need to ask someone else ''where should i close my positions?'' ... then i dont advise you playing in real account yet.
also guys be careful cos for such requests you can be removed

Yes... I didn't want to ask because don't want to be removed for that and now that you explain that I realize that the question itself was a bit stupid will not happen again.

Regards,
Jimm

Hi All,

I understand Davit's instructions about not placing your entire trade/risk at one price, and I can see that he starts off on one price and will stack. The concept makes sense as that way the damages can be limited if price goes against you. I guess my question is that how far away does the price have to move in the wrong direction for it to be considered we are in a losing trade? Or is it pretty much subjective (some people might start getting uncomfortable if it moves 50 pips away and others might still be OK if it moves 100 pips away)? Or is it simply if the TDI re-crosses in the opposite direction? I have read the PDF with Davit's posts but could not find any reference to this. Thanks.