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Weekly Pivot trading with TDI

  • #4,541
  • Oct 8, 2018 5:19am Oct 8, 2018 5:19am
Quoting bubincka
{quote} Hi sharingan9, thank you for your reply. It's good to exchange point of views among fellow traders, not yet decided about previous week WPP "rule" to buy/sell but for sure the # of trades I take is one of my issues with this system. Best regards, Bubincka
Yes true. It is all about your own trading style. If you like taking many trades a week then stick to that trading style as long as it gives you good profit. You seem to be very good at price action so you will be able to find many trades per week. I am not very good at price ation so I must patiently wait for weekly(based on recent weeks) trend to form plus I like focusing on 1 or 2 trades a week and not many because it is more peaceful for me haha. My account is large enough for me to just take 1-2 trades a week at low risk and still make good profit so this style is good for me. You are right it is always good exchange ideas but in the end a trader must trade the style that works best for him or her. Cheers bro and I wish you many green pips.
  • #4,542
  • Oct 8, 2018 5:57am Oct 8, 2018 5:57am
Quoting sharingan9
{quote} Yes true. It is all about your own trading style. If you like taking many trades a week then stick to that trading style as long as it gives you good profit. You seem to be very good at price action so you will be able to find many trades per week. I am not very good at price ation so I must patiently wait for weekly(based on recent weeks) trend to form plus I like focusing on 1 or 2 trades a week and not many because it is more peaceful for me haha. My account is large enough for me to just take 1-2 trades a week at low risk and still make...
Hi sharingan9,

thank you for your kind word, the real fact is that I trade since a couple of years with moderate success other two systems 1) scalping trend and 2) scalping counter-trend, therefore they "shaped my mind" in a way that of course cannot be applied to current fib pivot system nevertheless carry some bias on me. Therefore, I have to unlearn or I'd better to forget all that stuff when I'm on this strategy, and day by day I'm getting closer. Next step, but only when I'll be able to trade currency pairs in a balanced way will be to add dax30 and maybe gold and oil because Davit's system rules are universal.

Green pips to you mate!
Porta itineris dicitur longissima esse
  • #4,543
  • Oct 8, 2018 6:38am Oct 8, 2018 6:38am
Quoting fxbarwise
Positions open now: EURAUD (short) EURNZD (short) NZDCAD (long) AUDCAD (long) USDJPY & EURJPY & AUDJPY & CADJPY (short)
I'm on EA, EN, GA, GN short and AC, NC long. Good bounce since last week now and N are taking a breath.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EA_TRADE.jpg Size: 142 KB
Click to Enlarge Name: EN_TRADE.jpg Size: 145 KB
Click to Enlarge Name: GA_TRADE.jpg Size: 144 KB
Click to Enlarge Name: GN_TRADE.jpg Size: 143 KB
Click to Enlarge Name: AC_TRADE.jpg Size: 142 KB
Click to Enlarge Name: NC_TRADE.jpg Size: 137 KB
Porta itineris dicitur longissima esse
  • #4,544
  • Oct 8, 2018 6:53am Oct 8, 2018 6:53am
Fantastic day so far - all trades in the green
Strength showing on A N J
Weakness on C G E
Im currently Long NC AC, NCHF
short EJ and GN

Considering some USD pairs - USD is looking ok for now - but its approaching a few key resistances - i wonder if it will break thru or retrace? If retracement occurs a long on AU looks good...
  • #4,545
  • Oct 8, 2018 6:56am Oct 8, 2018 6:56am
audusd h4 long very low sl totaly 40 pip and tp first is 180 pip and 2nd is 600 pip
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_5.png Size: 107 KB
  • #4,546
  • Oct 8, 2018 7:49am Oct 8, 2018 7:49am
Quoting sharingan9
{quote} Here are my levels of interest. I like trading based on 3 types of environments: Multiple week exhaustion environment, New immediate trend environment, and retracement exhaustion environment. My entries are always at support levels turned resistance or resistance levels turned support so I can get a bounce away from the level and continue the new immediate trend and I look for these levels to line up with pivots if possible. I only sell above the WPP and I only buy below the WPP: Potential setups for me next week. All I really need is 1...
Hi Sharingan9, thanks for you sharing your method for entry, i want to further back test you method to see how the win rate, however can you give me the multiple weekly pivots indicator which showing the chart ? i copy Davit pivot indicator but not show multiple weekly pivots on the chart, thanks for your help.
  • #4,547
  • Oct 8, 2018 8:15am Oct 8, 2018 8:15am
watching usdjpy now...
  • #4,548
  • Oct 8, 2018 8:22am Oct 8, 2018 8:22am
Quoting FXgunner1969
{quote} Hi Sharingan9, thanks for you sharing your method for entry, i want to further back test you method to see how the win rate, however can you give me the multiple weekly pivots indicator which showing the chart ? i copy Davit pivot indicator but not show multiple weekly pivots on the chart, thanks for your help.
Here is the indicator. It is a little tricky backtesting these set ups or any system because you do not know if the wins or losses are due to news. I trade with caution around news and avoid pairs that will be subject to spikes dues to big events like brexit or usmca negotiations for example. That being said I did do backtests in the past and saw around a 75% winrate and this can be imporved when you add filters like avoiding news,not trading if you missed the move, taking trades close to the turn in price, the distance between the WPP etc.

But what matters more than backtests or forward tests is the LOGIC. Good sound Logic is what makes a system work and that is why Davit and other traders trading Davit's Pivot system are so successful not only for 1 week or 1 month but for years and they have consistent success that lasts forever. They use logic.

My logic is really simple. Wait for the bulls to get tired of buying and wait for a drop substantial enough to cause a drop in the WPP then sell. I also get a higher reward than risk by dragging my stops so my wins are bigger than my losses and by following the trend I can capture bigger moves than going counter trend.

Example of a trade I called out:

Quoting sharingan9
I like the R61/R78 level for short on EURCAD {image}
Now look at what happened on your chart when price hit the blue rectangle on the EurCad chart. All my trades are the same set up. Objective.


Attached File(s)
File Type: ex4 Pivot_Voty.ex4   72 KB | 440 downloads
  • #4,549
  • Oct 8, 2018 8:33am Oct 8, 2018 8:33am
My GN was closed by TS.
TP wasn't that far and considering unexpected Brexit news can come out anytime it's good like this.
Attached Image (click to enlarge)
Click to Enlarge Name: GN_TS_08_10_2018.jpg Size: 114 KB
Porta itineris dicitur longissima esse
  • #4,550
  • Oct 8, 2018 9:02am Oct 8, 2018 9:02am
Quoting sharingan9
{quote} Here is the indicator. It is a little tricky backtesting these set ups or any system because you do not know if the wins or losses are due to news. I trade with caution around news and avoid pairs that will be subject to spikes dues to big events like brexit or usmca negotiations for example. That being said I did do backtests in the past and saw around a 75% winrate and this can be imporved when you add filters like avoiding news,not trading if you missed the move, taking trades close to the turn in price, the distance between the WPP etc....
Sharingan9, i got your indicator already, thanks for your help, i will monitor the chart using your method.
  • #4,551
  • Oct 8, 2018 10:00am Oct 8, 2018 10:00am
Quoting General Lee
watching usdjpy now...
UJ dropping nice. Sellers finally taking over

Formed a nice H&S as well. I will look to short UJ next week if all looks well
  • #4,552
  • Oct 8, 2018 10:28am Oct 8, 2018 10:28am
Quoting sharingan9
{quote} UJ dropping nice. Sellers finally taking over Formed a nice H&S as well. I will look to short UJ next week if all looks well
next week?
  • #4,553
  • Oct 8, 2018 10:41am Oct 8, 2018 10:41am
Quoting sharingan9
{quote} UJ dropping nice. Sellers finally taking over Formed a nice H&S as well. I will look to short UJ next week if all looks well
i will think to buy at S138
  • #4,554
  • Oct 8, 2018 10:49am Oct 8, 2018 10:49am
A/N short?
  • #4,555
  • Oct 8, 2018 10:49am Oct 8, 2018 10:49am
UJ taking some profit...let some run further.
Attached Image (click to enlarge)
Click to Enlarge Name: UJ 20181008.png Size: 67 KB
Invest in Life
  • #4,556
  • Oct 8, 2018 11:11am Oct 8, 2018 11:11am
Quoting antisystem
{quote} next week?
Yes. I am a patient trader haha. I do not have the PA skills to trade counters unfortunately :/
  • #4,557
  • Oct 8, 2018 11:15am Oct 8, 2018 11:15am
Quoting General Lee
{quote} i will think to buy at S138
Nice bro. Green pips. After you long I recommend locking profits early just in case buyers might be exhausted since UJ has been going up for 4 weeks straight.
  • #4,558
  • Oct 8, 2018 11:19am Oct 8, 2018 11:19am
Quoting sharingan9
{quote} Nice bro. Green pips. After you long I recommend locking profits early just in case buyers might be exhausted since UJ has been going up for 4 weeks straight.
i'll mate
  • #4,559
  • Edited 11:50am Oct 8, 2018 11:40am | Edited 11:50am
Hi guys,

Looks like a Double Bottom is foaming for EURUSD.
Watch out for it.

Short USDCAD at price 1.29700.
Long GBPAUD at price 1.84627.
Long GBPUSD at price 1.30660.

Cheers and good luck!
Ron.
  • #4,560
  • Oct 8, 2018 12:12pm Oct 8, 2018 12:12pm
Quoting bubincka
{quote} I'm on EA, EN, GA, GN short and AC, NC long. Good bounce since last week now and N are taking a breath. {image} {image} {image} {image} {image} {image}
Congrats Bubincka, happy for you.
You NEVER will be the person you could be, without pressure & discipline
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