Weekly Pivot trading with TDI

Davit, based upon the most resent posts you've made, you have my utmost respect, I see your talent. Please tell outside of FF calendar for events, what other sources should be looking at as I want to get better at understanding fundamentals and it's effect upon the market.
P

NEWS ARE EVERYWERE YOU JUST HAVE TO TRACK THEM
Fed minutes next on the plate for dollar – Forex News Preview
The Fed will release the minutes of its September meeting, where policymakers raised rates for a third time this year, on Wednesday at 1800 GMT. Investors may focus mainly on the discussion around how far above “neutral” officials are willing to raise rates. Considering current market pricing, a confident tone that reaffirms the Fed remains on track to meet its own rate projections could help the dollar rebound, and in turn spell more trouble for stocks.
Back at the September gathering, the Fed raised interest rates by 25bps, though it maintained its future rate-path projections largely unchanged and delivered almost no new fresh policy signals. Of note was the removal of a phrase that previously read “policy remains accommodative”, which initially generated worries that the pace of hikes may slow. While Chairman Powell later downplayed this change as merely cosmetic and not a signal per se, investors will still scrutinize the minutes for some more color on that debate.
Another discussion markets will focus on is what officials consider to be the “neutral” rate of interest, whether most participants are willing to raise rates above it – and if so, by how much. To put things into context, “neutral” is theoretically the interest level that neither stimulates nor restricts economic activity, which most Fed calculations place around the 2.5% – 3.5% neighborhood. Once that level is reached, any rate increases beyond it to keep inflation under control would be seen as posing risks to growth, implying policymakers may start becoming hesitant to pull the hike trigger.
The latest rate-path projections show nearly all officials expect policy rates to be in restrictive territory by 2020, though there’s considerable dispersion among them on how much higher rates should go. In this respect, it’s noteworthy that Chicago Fed President Charles Evans – a typically dovish official – recently said he thinks two 25bps hikes above “neutral” would be appropriate. It will be interesting to see whether something similar is echoed by the broader Committee, with the risk being that most members are even more hawkish in their views.
On a different note, the conversation around trade tensions and the risks they pose could also attract attention. That said, judging by how Chair Powell brushed them aside during the press conference as being merely a risk that hasn’t actually shown up in the data yet, the Fed doesn’t appear to be particularly worried thus far.
All in all, the key message may be that the Fed remains committed to raising rates in a gradual manner – perhaps once per quarter – until it has a reason not to, and that trade risks are not dire enough (yet) to delay these plans. Market participants don’t seem quite as confident though, having priced in only two quarter-point hikes between now and June 2019, which implies they expect the Fed to pause for one quarter in the meantime. Hence, a confident tone in the minutes that reaffirms the Committee remains on track to meet its own rate projections could push US bond yields higher, potentially helping the dollar to claw back some of its latest losses.
Beyond the dollar, US stocks will also be in the spotlight, considering that the recent bout of equity-weakness was brought about by a surge in US bond yields. Bonds are considered safer than stocks, and as they begin to offer a higher return they become more attractive to hold relative to equities. Hence, a confident tone by the Fed that boosts bond yields could spell more pain for stocks, whereas a more cautious-sounding narrative could help US indices to recover.

No doubt who the trading boss is today :

Thanks for the reply Bubincka !!! Sorry for bothering you guys !!!!Is that because I repeated a question ?or saying that I have a job? I just want to save some money so one day I can become a day trader

CED74 check forex chn "ODB"...SP

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Since the beginning of the week I find myself holding A and N long positions in a situation of moderate floating profits but stuck in a limbo area with no clear direction, plus AN long ranging around WS100.

Later this evening there will be the FOMC, tomorrow morning AUD job data and Friday the China GDP, all RN affecting these positions.
If there will not be a clear direction in the next few hours I could decide to take small profits off the table before the news.

Any trader out there holding these same pairs ?

I'm holding AU, AC, NC and EU longs...holding AU long term and possibly EU long term as well. You have quite a bit of entries if unsure best take some off the table and let the others give the pair time to work out. Just my opinion...heard Davit mention something like that.

Hi bcollaps,
no it´s because it shows you didnt read much of this thread. Most of us have a job too, a family and few time to read, learn and trade. Even Davit is working!
What i did in the last months not to miss precious informations, was to pick up the posts i found important and save them on a power point file.
I will look for an answer to your question about risk and reward, SL and TP.

"Hi guys

Lot of new traders on this thread and I am scratching my head why is that even with warning on 1st page.

Remember this is basically advance trading with PA and Pivots and as we witnessed this whole month prices can drop in extremes and you must have exit strategy in place.

Someone commented there is no "rules" about profit taking.Not true I covered this multiple times in old thread not going to waste more time on it but suffice to say TP is relative to PA hence no solid rule can work.Sometimes price goes to 20pips turns around another times goes 100pips to 61S/61R other times range between 38R/38S so as you can see setting solid rule like "I will take TP when price reaches 61R/61S" is not realistic and can become losing proposition because as I said already every pair moves its own price action hence you must make that decision case by case bases.

(..)

https://www.forexfactory.com/showthr...5#post11376785 "
(Davit)

Edit: i found another Post:
"Quoting Wags

Just interested in where you guys will exit your UJ trades from this perspective {image}

usually next pivot level then wait to see if it breaks or not then make your decision.
Taking 50+pips on typical trade is common since focus here is on swings"


If you are new in this business, I can send you my document in PM (not the basics, just additional informations.. The basics are on page 1)

Hi Mundo,

that's true. On one side A & N have a lot of road to recover and for the moment they are well positioned.
On the other side coming RN are expected slightly below previous readings and if this evening FOMC tone will be hawkish my AU and NU trades will sink.

In this game of probabilities where anything can happen we have not to forget to practice patience.

Best regards,
Bubincka

Time to close the rest and look for short

No changes in my postions.
Long AU
Long EJ
Long UJ
Short UC

Thinking on going long on EU

I would wait until brexit deal decision for the Long EU, looks like no deal brexit, even do it looks nice to me right now :/

The same way
NZDUSD

OH DEAR are people so greedy they need to chase more than 1 or more insruments ? build your house 1 straw at a time ...

please use the template so we are all on the same page
thankyou

EURGBP

wake up Nim .. all you need is pivots which is cleary shown .... according to Davits template

Some days are DIAMONDS

Thanks to Davit who has turned my trading around , and Claudia1 who showed me how to be brave .... Fear not the consequences , just be prepared ....