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Pivot Trading

  • #23,561
  • Dec 18, 2018 1:40pm Dec 18, 2018 1:40pm
Quoting shotshell
{quote} So bubincka, I see only two possible scenarios tomorrow; 1. the fed stays pat & doesn't raise rates 2 the fed moves the rates up as they said they would What reaction do you expect to see from UC for either case?
If they raise rates, that would be negative for USD
  • #23,562
  • Dec 18, 2018 1:47pm Dec 18, 2018 1:47pm
Quoting shotshell
{quote} So bubincka, I see only two possible scenarios tomorrow; 1. the fed stays pat & doesn't raise rates 2 the fed moves the rates up as they said they would What reaction do you expect to see from UC for either case?
Hi shotshell, far to be an expert I think that since it's more expected scenario 2. in which Fed will raise rates is a bit more priced in while scenario 1. with no rates hike could cause the dollar to drop faster. However is impossible to guess what will happen and it's better to wait for the release.
Porta itineris dicitur longissima esse
  • #23,563
  • Dec 18, 2018 2:02pm Dec 18, 2018 2:02pm
Quoting darksize
Just letting you know, WTI is just now on very interesting zone. 2year timeframe 61 fibonacci zone. We may see bulls soon, just wait for a signal.
I think we won't see any significant bulls before January when those production cuts agreed come into effect. And I don't believe that those 1.3 bln barrels cut will help, they should increase, 2+ bln barrels minimum.
  • #23,564
  • Dec 18, 2018 2:05pm Dec 18, 2018 2:05pm
Quoting 1pipperhour
{quote} I think we won't see any significant bulls before January when those production cuts agreed come into effect. And I don't believe that those 1.3 bln barrels cut will help, they should increase, 2+ bln barrels minimum.
You may be right, it could also turn after Brent reaches the same zone. We will see.
-._.-
  • #23,565
  • Dec 18, 2018 2:15pm Dec 18, 2018 2:15pm
Quoting 1pipperhour
{quote} I think we won't see any significant bulls before January when those production cuts agreed come into effect. And I don't believe that those 1.3 bln barrels cut will help, they should increase, 2+ bln barrels minimum.
I thought it was just 0.6bln cut O_o
Building a Freedom All Time Return: 5,178.8%
  • #23,566
  • Dec 18, 2018 2:30pm Dec 18, 2018 2:30pm
Quoting J1mm
{quote} I thought it was just 0.6bln cut O_o
They aimed 1 bln if I remember correctly and with Russia agreed 1.2 or 1.3 bln. They might cut more than that because oil is too cheap.
  • #23,567
  • Dec 18, 2018 3:41pm Dec 18, 2018 3:41pm
some nice trades in profit on CAD pairs at the moment, moved stops to breakeven before news release tomorrow,
Anyway ive been trying to pin point my entries better at the relevant pivots R61+ stop buys look for sells and vice versa with the S levels, I found I can pin point my entry better on a 5 minute chart rather than a 15, now right away it came to my mind also 5 min TF whips which it does, the beauty of this system though it does not matter what time frame you use as the pivot stays in the same location. To that end ive found my results have increased a lot more entering at double tops on the 5 min TF at the pivot level. Again my target remains the same which is the WPP.

How do you guys pin point your entries???
Give the 5 min TF ago see how you get on entering on double tops or bottoms.
  • #23,568
  • Dec 18, 2018 5:29pm Dec 18, 2018 5:29pm
Hi guys
I hope you guys survived CAD onslaught.Oil drop was significant.This is why you hold back some troops for unexpected.
Personally I think worse is over and at this point does not matter about the Feds since MM's basically priced in a hike.
Love to see UJ 1300+ to go short after the feds.This is heading lot lower good chance.
In trading, you have to be defensive and aggressive at the same time
  • #23,569
  • Dec 18, 2018 5:44pm Dec 18, 2018 5:44pm
I’m long on U/J and E/J.... I think U/J will reach 112.80 before fed announcement and these will get a decent profit.

I think there chance the hike maybe stalled to next year, or it may even be priced in already. I’m short on E/C and looks to drop anytime soon, I am avoiding GBP pairs for now.

I have made decent profits that opened on Friday evening and closed today majority going long on NZD pairs.

I learnt not to get greedy, it’s amazing how price goes from pivot to pivot and gives great sense of when to get in and get out, a traders dream

Stay Green
  • #23,570
  • Dec 18, 2018 6:06pm Dec 18, 2018 6:06pm
Quoting Neil0163
some nice trades in profit on CAD pairs at the moment, moved stops to breakeven before news release tomorrow, Anyway ive been trying to pin point my entries better at the relevant pivots R61+ stop buys look for sells and vice versa with the S levels, I found I can pin point my entry better on a 5 minute chart rather than a 15, now right away it came to my mind also 5 min TF whips which it does, the beauty of this system though it does not matter what time frame you use as the pivot stays in the same location. To that end ive found my results have...
Neil
I would not worry about pin point accuracy! It seldom happens.Why spreading your orders in smaller chunks help capturing price.
Once you get too caught up about exact entries then you are dropping to 1min - 5min and then you are in scalping territory.Its a different mindset then what we are doing.Scalper getting 10pips thinks its great! I aim 70-100pips major difference! in 70-100pip gains its irrelevant if your entries are 10-30pips off.Its fine.Different priorities.Remember we are net fisherman
In the net does not matter if fish are outer edges or in the center net result is they are all caught
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In trading, you have to be defensive and aggressive at the same time
  • #23,571
  • Dec 18, 2018 6:32pm Dec 18, 2018 6:32pm
Quoting Davit
{quote} Neil I would not worry about pin point accuracy! It seldom happens.Why spreading your orders in smaller chunks help capturing price. Once you get too caught up about exact entries then you are dropping to 1min - 5min and then you are in scalping territory.Its a different mindset then what we are doing.Scalper getting 10pips thinks its great! I aim 70-100pips major difference! in 70-100pip gains its irrelevant if your entries are 10-30pips off.Its fine.Different priorities.Remember we are net fisherman In the net does not matter if fish are...
This simple concept messed me up for a while until I started looking at it as a net. If you keep trying to pinpoint and switching different timeframes, you will screw yourself more times than if you increase a couple of pips. Keep it simple, trust the system.
"What the wise do in the beginning, fools do in the end."-Warren Buffet
  • #23,572
  • Dec 18, 2018 7:07pm Dec 18, 2018 7:07pm
Davit , your words are magical. Enough said.

Thank You for your relentless dedication to helping us be far better than we could have ever imagined. Not just in Forex Trading , but , in everyday life as well.

Sincerely ,
GreenEarth
"Define the risk OUT of your trade"--Mark Douglas
  • #23,573
  • Dec 18, 2018 7:10pm Dec 18, 2018 7:10pm
Quoting OhComeOn
{quote} This simple concept messed me up for a while until I started looking at it as a net. If you keep trying to pinpoint and switching different timeframes, you will screw yourself more times than if you increase a couple of pips. Keep it simple, trust the system.
Why there is good DD and reckless stupid DD
Drawdown is necessary part of the system.Let me explain before typical hater gets excited.
Price is at 61S and PA looked going north 15-30 min everything looks great you went long then price drops to 78S Trade still valid but now you got DD (good DD)
Price dropped 100S and you placed more longs but accumulated more DD. This whole area 61-100 is your NET and to me does not matter entries at 61 or at 100 its a badge trade consist of average 10 orders and all together should be considered 1trade like thick ribbon.

Bad DD is when price drops lot lower then 100S and you mismanage the trade and really get in into serious DD this is bad DD
In trading, you have to be defensive and aggressive at the same time
  • #23,574
  • Dec 18, 2018 7:17pm Dec 18, 2018 7:17pm
Quoting GreenEarth
Davit , your words are magical. Enough said. Thank You for your relentless dedication to helping us be far better than we could have ever imagined. Not just in Forex Trading , but , in everyday life as well. Sincerely , GreenEarth
You have great attitude my friend. To support your Country Canada I bought lots of loonies
Can't leave my Canadian friends without sopport
In trading, you have to be defensive and aggressive at the same time
  • #23,575
  • Dec 18, 2018 8:22pm Dec 18, 2018 8:22pm
i hope it printed green
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  • #23,576
  • Edited 10:16pm Dec 18, 2018 9:15pm | Edited 10:16pm
I tell you, I sure will love catching the fall of EC in the morning, and looking forward to UC a few hours later. Love this system, in the past, tracked it with a couple of different indicators for research purposes. Makes so much sense doing it this way. Using a net at key pivot areas, equals huge success. I look back and shake my head, thinking of all those times I was chasing or got caught in a whipsaw during the range. Kicked myself every time I thought I could tweak this system. You can't tweak it, its bulletproof. Simple concept, follow it and make money, or chase oscillator/trend indicators and get your butt kicked. Thanks Davit for the recommended readings, this and price action is awesome, thank you for sharing your knowledge and changing my life. Appreciate it brother.
"What the wise do in the beginning, fools do in the end."-Warren Buffet
  • #23,577
  • Dec 18, 2018 10:10pm Dec 18, 2018 10:10pm
USDCAD.. have a harmonic pattern on the 4H.. if it plays out like a butterfly R100 is the PRZ. However it have the fib proportions of a deep crab.. then the target is R200 and beyond. Today big news, however Fridays cad news have positive forecast.
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  • #23,578
  • Dec 18, 2018 10:19pm Dec 18, 2018 10:19pm
I know its a wild pair.. but this one looks nice to me.
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  • #23,579
  • Edited 11:03pm Dec 18, 2018 10:50pm | Edited 11:03pm
Quoting SirPaul
USDCAD.. have a harmonic pattern on the 4H.. if it plays out like a butterfly R100 is the PRZ. However it have the fib proportions of a deep crab.. then the target is R200 and beyond. Today big news, however Fridays cad news have positive forecast. {image}
Hello SirPaul, scratching my head on this one, looking at my harmonics and see something a little different. It is supporting the R100 zone for UC on the H4. Personally am playing the R100 zone myself and looking forward to a drop. And for those who may ask for the Harmonics indicator, its on the clipboard, once again, Davit has provided all of the tools you need to be a successful trader. Anyone reading his thread should send a personal thanks to him, don't need anything else.
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"What the wise do in the beginning, fools do in the end."-Warren Buffet
  • #23,580
  • Dec 18, 2018 11:08pm Dec 18, 2018 11:08pm
Nice thread here.Alot of eyes on the charts looking forward to my 1st pivot trade, missed UC R100
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