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Weekly Pivot trading with TDI

  • #4,201
  • Sep 28, 2018 9:05am Sep 28, 2018 9:05am
Quoting Davit
I most likely will carry EG shorts to next month.I anticipate Euro trade deal finalized on Brexit which should strengthen GBP Looking at 88 as my TP but could hold for lower.Wait and see.With +swap its fine holding {image}
It takes a long way to reach such a high level in trading (reading PA capabilities, execution, patience, confidence) !
Thank you once again for the system you gave to all of us.

Best regards,
Bubincka
Porta itineris dicitur longissima esse
  • #4,202
  • Sep 28, 2018 9:31am Sep 28, 2018 9:31am
Quoting Davit
Between now and Nov mid term election we could see USD weakening Be conscious that holding USD positions on sell is most costly daily swap so be extra diligent not getting early.USD is swap king now My goal is focusing on my favorite crosses AN AJ EN EG EJ CJ NJ EC GC notice no USD here.You can make great money not even trading USD
Westpac says the US dollar may come under pressure ahead of November's midterm elections - Business Insider

https://www.businessinsider.com.au/f...ections-2018-9
Invest in Life
  • #4,203
  • Sep 28, 2018 10:15am Sep 28, 2018 10:15am
Quoting bubincka
{quote} I've found some definitions, I could be wrong but I consider BEOB when current candle high/low engulfs previous candle high/low = Outside Bar like in this case, while BEEB is what you're saying, that is when current candle open/close engulfs previous candle open/close = Engulfing Bar. However PA is still wandering halfway between WR78 and WR100.
Mate, there is no such pattern with engulfing low/high but not engulfing open/close. BEOB is the same to what you call BEEB.
This one particular candle with engulfing low/high shows only that market didn't manage to choose any direction.
  • #4,204
  • Sep 28, 2018 10:36am Sep 28, 2018 10:36am
Quoting antisystem
{quote} Mate, there is no such pattern with engulfing low/high but not engulfing open/close. BEOB is the same to what you call BEEB. This one particular candle with engulfing low/high shows only that market didn't manage to choose any direction.
Please pro traders, for clarification on real definition of BEOB or BEEB please refer to first post on this thread and read original.

Thank you.
Invest in Life
  • #4,205
  • Sep 28, 2018 11:04am Sep 28, 2018 11:04am
Quoting antisystem
{quote} Mate, there is no such pattern with engulfing low/high but not engulfing open/close. BEOB is the same to what you call BEEB. This one particular candle with engulfing low/high shows only that market didn't manage to choose any direction.
OK, I take for good this and thanks for clarifying.
PA still there, next week I'll continue monitoring closely looking for entry opportunities.
Porta itineris dicitur longissima esse
  • #4,206
  • Sep 28, 2018 11:18am Sep 28, 2018 11:18am
Hi everyone. Did anyone short on UJ ?
  • #4,207
  • Sep 28, 2018 11:38am Sep 28, 2018 11:38am
This may be of interest. Hopefully it helps someone.
Attached File(s)
File Type: pdf Three Powerful FOREX Price Patterns.pdf   1.8 MB | 1,348 downloads
  • #4,208
  • Edited 12:38pm Sep 28, 2018 12:27pm | Edited 12:38pm
Quoting antisystem
{quote} Mate, there is no such pattern with engulfing low/high but not engulfing open/close. BEOB is the same to what you call BEEB. This one particular candle with engulfing low/high shows only that market didn't manage to choose any direction.
Here is how I see it:

The definition of outside bar is that the last bar high/low completely engulf the high/low of the previous bar.

The definition of engulfing bar is that the last bar open/close (body) completely engulf the previous bar open/close (body). The high/low of last bar doesn't need to engulf the high/low of previous bar.

For examples check out the pdf to strat:

https://www.forexfactory.com/attachm...5&d=1508787125

Regards

Paal
  • #4,209
  • Sep 28, 2018 12:33pm Sep 28, 2018 12:33pm
  •  Egbert
  • Joined Aug 2017 | Status: The Weekly Pivot is the only verdic | 1,086 Posts | Online Now
Quoting Joeyd
This may be of interest. Hopefully it helps someone. {image}
We obey the structure that results from the market's reaction
  • #4,210
  • Sep 28, 2018 1:21pm Sep 28, 2018 1:21pm
Quoting kirinda
{quote} Here is how I see it: The definition of outside bar is that the last bar high/low completely engulf the high/low of the previous bar. The definition of engulfing bar is that the last bar open/close (body) completely engulf the previous bar open/close (body). The high/low of last bar doesn't need to engulf the high/low of previous bar. For examples check out the pdf to strat: https://www.forexfactory.com/attachm...5&d=1508787125 Regards Paal
Hi Paal,

I remember I read it somewhere and I understood it in the same way you explained much better than me.

However price marked new high and succeed in closing above WR100 on H1. Will it continue its rally or will weaken giving us the chance to enter short ?

Next week we'll be watching PA carefully a we'll take proper action accordingly.

Good week end to everyone ,
Bubincka
Porta itineris dicitur longissima esse
  • #4,211
  • Sep 28, 2018 4:58pm Sep 28, 2018 4:58pm
UJ going to be one to watch. Will it reverse at the current 113.700 or will it push to 114.75? What's yours thoughts people?
  • #4,212
  • Sep 28, 2018 7:12pm Sep 28, 2018 7:12pm
Quoting Griff90
UJ going to be one to watch. Will it reverse at the current 113.700 or will it push to 114.75? What's yours thoughts people?
If I was a betting man without looking at pivots just yet, I’d say it will retrace at 114.000
114.000 is a psychological big number. Many people will be looking here.
its a 127% fib inversion level also
  • #4,213
  • Sep 28, 2018 9:46pm Sep 28, 2018 9:46pm
Quoting Neil0163
{quote} If I was a betting man without looking at pivots just yet, I’d say it will retrace at 114.000 114.000 is a psychological big number. Many people will be looking here. its a 127% fib inversion level also
Its also long term resistance - bounced off the 114.2ish level 3 times between apr and nov 2017 on the weekly chart and hasnt been back up there since... it will be a hard nut to crack above there.
But we have the bearish pressure running uptp the mid term elections - id have to say im looking to sell on a late entry if the turn becomes clear.
On the flip side - the yeild and interest rate differential of UJ has not been this high for quite some years - therefore the carry traders and large funds may come out in force and help the bulls follow thru... wait and see i guess
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  • #4,214
  • Sep 29, 2018 1:20am Sep 29, 2018 1:20am
What did I do wrong? I just changed the color but can not see the ADR information and the FFCal News is kinda strange on my chart.
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  • #4,215
  • Sep 29, 2018 2:02am Sep 29, 2018 2:02am
Prescribed reading by Davit, Harmonic Trading by Scott M Carney Vol. 1 & 2
Attached File(s)
File Type: pdf Scott M Carney - Harmonic Trading Volume One B003K16NNY.pdf   9.9 MB | 2,913 downloads
File Type: pdf Scott M Carney - Harmonic Trading Volume Two B003LL2U4E.pdf   7.6 MB | 1,121 downloads
You NEVER will be the person you could be, without pressure & discipline
  • #4,216
  • Edited 8:12am Sep 29, 2018 7:18am | Edited 8:12am
A few good books: Reminiscences of a Stock Operator by Edwin LeFevre and Bird Watching in Lion Country by Dirk du Toit
Attached File(s)
File Type: pdf Reminiscences_of_a_Stock_Operator By Edwin Lefevre.pdf   1.7 MB | 445 downloads
File Type: pdf DrForex - Bird Watching in Lion Country.pdf   1.9 MB | 567 downloads
You NEVER will be the person you could be, without pressure & discipline
  • #4,217
  • Sep 29, 2018 8:26am Sep 29, 2018 8:26am
I will be watching the PA on the highlighted area for signs of continuation or reversal. I will look for a trigger on M30, H1 or H4....All this has to be supported by fundamentals. Jus sharing my 2 cents.
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Wait for the system to show you the trade!
  • #4,218
  • Sep 29, 2018 9:12am Sep 29, 2018 9:12am
EURGBP
I always get nasty spikes on this pair....Rarely trade it...I dont have much experience trading it and always avoid. But i am watching it too.
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Wait for the system to show you the trade!
  • #4,219
  • Sep 29, 2018 10:37am Sep 29, 2018 10:37am
Quoting bubincka
Watching USDJPY, it just touched nine-months high and now trading between WR78 and WR100 a shooting star could begin to form on D1 while we have a BEOB and a double top on H4. If PA can't break above WR100 we can begin to think shorting it. {image} {image}
Watching it too, Would ONLY go short when yellow TL is broken at 100 there with PA strongly going down.


Thanks for the headsup
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Wait for the system to show you the trade!
  • #4,220
  • Edited 12:46pm Sep 29, 2018 12:30pm | Edited 12:46pm
Week ahead


After Rate decision out, there is nothing pressing for USD to gain and looking ahead NFP projection is not so great.I am looking for weakness on USD up to Friday.
Goes without saying market can prove me wrong but this is my draft trading plan for the week

Monday
GBP Manufacturing PMI if prints green G pairs may bounce and EG to break 89 heading to 88

USD ISM Manufacturing PMI projection is slight red if confirmed selling USD may start and continue on to Friday

Tues
RBA Rate Statement no change here -will look to buy if it drops significantly but won't sell where price is now (note Thurs retail is green projection)
hence market may start buying AUD

Weds
I see only one significant event here
USD SM Non-Manufacturing PMI if prints red it may confirm trade wars is starting to take effect and is negative for USD
Advanced NFP is no event in my opinion.

Thurs
AUD retail-projection is very green and I am still short on EA and will hold this to 58

Friday
NFP+Hourly earnings like I said selling USD may start prior of this events.Both projections are negative

To sum up winners this week may be AUD and GBP will focus on these and crosses
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In trading, you have to be defensive and aggressive at the same time
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