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Pivot Trading

  • #21,201
  • Jul 3, 2018 8:43pm Jul 3, 2018 8:43pm
Quoting Cryptosurf
AUD moving up on better then expected retail sales.
Good thing I was shorting from R/61. I was able to take some profit. Time to monitor the pair for me
  • #21,202
  • Jul 3, 2018 8:48pm Jul 3, 2018 8:48pm
Retail Sales just came out for the AUD and news was great, while the trade balance was not. Also the revised for last months came out good as well, so overall a positive for Aussie dollar. Eur/Aud is dropping now, opened earlier this week at R61 and closed my position yesterday because it hit the weekly pivot and ADR was high. On the flip side NU is moving upwards. Lots of smaller news events are coming out for Euro later on today, all low impact.

Great thing about Davit's method is to keep an open eye on news events not just charts. Being positive for past few months gives me the chance to somewhat understand the market better due to the free time it gives me and less stress the system entails. Net positive in the account also brings huge positive for life outside of FX!

https://forexlive.com/news/!/austral...ed-03-20180704

https://www.forexfactory.com/news.php?do=news&id=787181

https://www.forexfactory.com/ (to just see the numbers on homepage)
  • #21,203
  • Jul 3, 2018 8:50pm Jul 3, 2018 8:50pm
Heads up on holidays usually with thin liquidity prices tend to go extremes in this case looks like USD is getting a beating which is fine with my trades
In trading, you have to be defensive and aggressive at the same time
  • #21,204
  • Jul 3, 2018 9:09pm Jul 3, 2018 9:09pm
Quoting Davit
Heads up on holidays usually with thin liquidity prices tend to go extremes in this case looks like USD is getting a beating which is fine with my trades
Nice to see USD getting the beating especially UJ cross, also relieving some DD and banking some on AUD crosses
  • #21,205
  • Jul 3, 2018 9:15pm Jul 3, 2018 9:15pm
Inserted Video


Song is about the yearning to back to homeland.Almost every immigrant's secret desire...
In trading, you have to be defensive and aggressive at the same time
  • #21,206
  • Jul 3, 2018 9:33pm Jul 3, 2018 9:33pm
UJ H4 is red going to wait another 4hrs London may push this further down.
In trading, you have to be defensive and aggressive at the same time
  • #21,207
  • Jul 3, 2018 10:17pm Jul 3, 2018 10:17pm
EG is stuck at 8835 WP (power of pivots) Service PMI tonight and if prints green may push down 8780-90could drop lower.

You guys understand why I do calendar right? I know what's coming from beginning of the week and have understanding how that may play out.
Have not seen here thread that puts so much emphasis on news events.Fundamentals are essential to grasp in trading hence I never believed "everything is in the charts" this is rather lazy way of saying I don't have time to educate myself.
stay green
In trading, you have to be defensive and aggressive at the same time
  • #21,208
  • Jul 3, 2018 10:22pm Jul 3, 2018 10:22pm
Spike on AN is coming down which I was anticipating
In trading, you have to be defensive and aggressive at the same time
  • #21,209
  • Jul 3, 2018 10:44pm Jul 3, 2018 10:44pm
Quoting Davit
EG is stuck at 8835 WP (power of pivots) Service PMI tonight and if prints green may push down 8780-90could drop lower. You guys understand why I do calendar right? I know what's coming from beginning of the week and have understanding how that may play out. Have not seen here thread that puts so much emphasis on news events.Fundamentals are essential to grasp in trading hence I never believed "everything is in the charts" this is rather lazy way of saying I don't have time to educate myself. stay green
I appreciate your comments regarding fundamentals, especially coming from a resource based economy like Canada...good example is West Texas crude and its effect on the Canadian dollar......you can have the best technical chart in the world only to be "trumped" by a spike in crude....long CAD/USD be cautious.....oil is having a run again ....
  • #21,210
  • Jul 3, 2018 10:46pm Jul 3, 2018 10:46pm
USD/CAD THAT IS..
  • #21,211
  • Jul 3, 2018 10:46pm Jul 3, 2018 10:46pm
Quoting fas
{quote} I will take a look to the materials, If you have any suggestion let me know
OK FAS...i'm going to ASS U ME...based on you just joining FF and this thread...you may be NEW to FX (any trading)...young & no experience...or plain Fn lazy... MY suggestion(S)...and don't take them the wrong way or personally...the are just generalizations..there are many people here are to help you if you help yourself...

1) Read carefully the thread rules on Page 1...on any thread you choose to follow on your journey in trading.
2) Commit to yourself to follow the rules as they are... even IF you have multiple years experience trading yours or others strategies, etc. No blame no gain!
3) Educate yourself on any topic of interest...if your interested you will succeed at some level...if not move on & find another.
4)$$$ don't grow on trees until the soil is tilled, seeds planted, leaves grow and then if you persevere enough to climb the limbs you will bear fruits
of YOUR labor...which leads me to suggestion #5..
5) How to create L.U.C.K. ? Involves you first & foremost...then others. Labor. Under . Common. Knowledge...

reminder/tip...because I'm really a nice guy... this is on page #1
Disclaimer
If you have less then 2years of experience in Forex I recommend not even trying my system.
Books that will help you

Trading in the zone
The Disciplined Trader: Developing Winning Attitudes Mark Douglas
Trading in the Zone Mark Douglas
Psycho-Cybernetics, A New Way to Get More Living Out of Life Maxwell Maltz
The Secrets to Emotion Free Trading Larry Levin (clipboard under Davits Philosophy)
Harmonic Trading, Volume One: Profiting from the Natural Order of the Financial Markets Scott M Carney
Volume 2 as well
Free book by him on clipboard (theht)

Required to watch videos by Mark Douglas

Cheers as always, Axleman.

Davit ... I owe you a dozen Long John doughnuts from my Local European bakery Deli I support (they are Fn Awesome)... if this person does not get this friendly reminder, because I'm sure I know what I think you would/will do. Lets see whats going to happen next, cuz I don't know...
  • #21,212
  • Jul 3, 2018 10:56pm Jul 3, 2018 10:56pm
Quoting Davit
EG is stuck at 8835 WP (power of pivots) Service PMI tonight and if prints green may push down 8780-90could drop lower. You guys understand why I do calendar right? I know what's coming from beginning of the week and have understanding how that may play out. Have not seen here thread that puts so much emphasis on news events.Fundamentals are essential to grasp in trading hence I never believed "everything is in the charts" this is rather lazy way of saying I don't have time to educate myself. stay green
Hey Davit,

thanks again, as I have stated before I'm not much of a fundamentalist, but I am making an effort to ingrain it into my daily routine thanks to all on this thread. I read & check daily the calendar of events and then see how market reacts...interesting for sure...not confident in my full understanding in interpreting the news therefore will reserve commenting on it...maybe in the future...

Cheers,

Axleman.
  • #21,213
  • Jul 3, 2018 11:03pm Jul 3, 2018 11:03pm
Quoting Swede
{quote} I appreciate your comments regarding fundamentals, especially coming from a resource based economy like Canada...good example is West Texas crude and its effect on the Canadian dollar......you can have the best technical chart in the world only to be "trumped" by a spike in crude....long CAD/USD be cautious.....oil is having a run again ....
It's funny in business the USD CAD was the pair I traded the most in real money exchanges 1-1. In Forex I'm not a huge fan of trading the USD CAD Sometimes it's equivalent to playing the Tri factor at the horse track. Just when you think you got your ducks all in a row the price of oil spikes up or down and changes everything. It silly that quite often OIL and the CAD have such a correlation when crude oil is only approximately 3% of Canada's GDP. It is what it is, that's how the market and traders perceive it.
Fib Traders get it right 61.8% to 78.6% of the time. NR
  • #21,214
  • Jul 4, 2018 12:04am Jul 4, 2018 12:04am
If you have all the important and necessary tools for your journey there are fewer surprises on your way ahead. If you have been using those tools before you will know which one to use when you get in trouble or when others are lost or waiting for someone to give them a hand, Forex is no different.

Do you know what's coming ahead of you, Are you prepared?
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If you are not already in trades from past weeks, be patient. And if you are already in one or few trades then you know how to manage them based on what's coming in next 2 days.

Have your watchlist ready. Yours may be totally different than your friends but that is the name of the game. No two people see the chart the same way. If you see a support may be the other person see it as resistance. But when you have pivots laid on your charts and you have a plan, you will be patient. Don't be impatient when the news comes out and try to pull the trigger with heavy position size. Start small, absorb the news, build the small positions and where others got stopped out and blaming news spikes you will see your trades turning into profits.

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Best Regards
  • #21,215
  • Jul 4, 2018 1:44am Jul 4, 2018 1:44am
PA is sieging the support created at EG, let's see if its able to break it, holding some Shorts from last week!

Good part is that those shorts had almost no DD
Building a Freedom All Time Return: 5,178.8%
  • #21,216
  • Jul 4, 2018 2:06am Jul 4, 2018 2:06am
Quoting MrAussieFX
If you have all the important and necessary tools for your journey there are fewer surprises on your way ahead. If you have been using those tools before you will know which one to use when you get in trouble or when others are lost or waiting for someone to give them a hand, Forex is no different. Do you know what's coming ahead of you, Are you prepared? {image} If you are not already in trades from past weeks, be patient. And if you are already in one or few trades then you know how to manage them based on what's coming in next 2 days. Have your...
Hello MrAussieFX,

for example on your contributions we can clearly see the big difference between prepared self-disciplined trader who takes his trading seriously and lazy freeloaders who cannot even read carefully instructions on 1st page here. Thank you for this. I noticed that a few people on this thread are doing really great job, learned the system, stick to rules and make money consistently. On the other side, we have here tons of spoonfeeders grining in day by day who are even lazy to read one page, instead of this they instantly trashtalk.

I am not uploading stuff daily here, but if i do, i try do my best before spending on preparation to have high probability trades. Ofc, this is not trading service, there are tons of trades hidden. But main idea of this post is to express a big thanks to guys working hard here, doing homeworks. Also i am happy, we have in this group traders from many countries(i hope i can say WE, Davit) who can contribute about local macro-geo-political situations.

Regarding trades update: notning changed since i posted last (AN,UC short; NU,GU long), already scored 3% this month.

Cheers
Recruit
  • #21,217
  • Jul 4, 2018 2:09am Jul 4, 2018 2:09am
Closed UJ +407
Test of 11 likely considering NFP week and perhaps another opertunity to short
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In trading, you have to be defensive and aggressive at the same time
  • #21,218
  • Jul 4, 2018 2:16am Jul 4, 2018 2:16am
Closed AN+324 almost pre news. Getting out of this.Don't like the fundamentals on NZ to hold more.
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In trading, you have to be defensive and aggressive at the same time
  • #21,219
  • Jul 4, 2018 2:17am Jul 4, 2018 2:17am
Quoting Davit
{quote} So you are saying you hard hard time clicking a link and downloading the indicator which is the correct indicator! Let me get this right you can't read a simple instruction and you want to trade? Did you read the page at all fully? You are removed ! {image} {image}

Davit, you are kind but wasting your time with searching , replying , explaining those guys.... It is never ending story.
  • #21,220
  • Jul 4, 2018 2:18am Jul 4, 2018 2:18am
bought

buy ac , uj, ucad,
sell anzd
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