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Pivot Trading

  • #23,661
  • Dec 20, 2018 9:46am Dec 20, 2018 9:46am
Finally E/C has rolled over
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  • #23,662
  • Dec 20, 2018 10:13am Dec 20, 2018 10:13am
CJ is sinking like a rock now beyond WS200.
CAD is inherently weak during this period, it depends too much on oil price that is and remains low.
Let's see if tomorrow news expcted to print green will bring some relief.
Porta itineris dicitur longissima esse
  • #23,663
  • Dec 20, 2018 10:25am Dec 20, 2018 10:25am
Quoting darksize
WTI {image}
Closed trade with small loss
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-._.-
  • #23,664
  • Dec 20, 2018 10:31am Dec 20, 2018 10:31am
Hi there,

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Click to Enlarge Name: Screenshot1.png Size: 20 KB


Wanted to share the PivotsP indicator just created. Draws lines for all popular techniques, camarilla, woodie, fibo.
I hope it will be useful. Feedback appreciated.
Attached File(s)
File Type: ex4 PivotPoints.All-In-One.ex4   57 KB | 670 downloads
  • #23,665
  • Dec 20, 2018 10:39am Dec 20, 2018 10:39am
Quoting Apiga
Hi there, {image} Wanted to share the PivotsP indicator just created. Draws lines for all popular techniques, camarilla, woodie, fibo. I hope it will be useful. Feedback appreciated. {file}
Looks like interesting location for long entry too.
-._.-
  • #23,666
  • Dec 20, 2018 10:43am Dec 20, 2018 10:43am
Quoting darksize
{quote} Closed trade with small loss {image}
PA is choppy af today
Trade with confidence, trade without fear.
  • #23,667
  • Dec 20, 2018 10:46am Dec 20, 2018 10:46am
Quoting Cryptosurf
{quote} PA is choppy af today
Own up, who closed there trades on a loss or who’s in massive DD. People Sure gone quiet.
  • #23,668
  • Dec 20, 2018 10:57am Dec 20, 2018 10:57am
Just waiting on EC here, finished my other trades.
"What the wise do in the beginning, fools do in the end."-Warren Buffet
  • #23,669
  • Dec 20, 2018 11:02am Dec 20, 2018 11:02am
Quoting RieseP
18% DD, not good I can only learn from this, I’m holding on my E/C shorts and got into too early on my A/J longs. I think I need to stop opening so many postions
Hi RieseP

I think what you're saying is a matter that relates to many traders here, myself included.

It's always difficult to read charts and understand if and when PA is close to a reversal or more trend is there to come.
Weekly pivots are a very good roadmap, but of course can't predict the future.
A good mix of knowing fundamentals and following their evolution plus considering PA at extreme levels can add some more clues.

With respect to the issue of jumping on many trades we need to reinforce patience and discipline.

Best regards,
Bubincka
Porta itineris dicitur longissima esse
  • #23,670
  • Dec 20, 2018 11:10am Dec 20, 2018 11:10am
Quoting bubincka
{quote} Hi RieseP I think what you're saying is a matter that relates to many traders here, myself included. It's always difficult to read charts and understand if and when PA is close to a reversal or more trend is there to come. Weekly pivots are a very good roadmap, but of course can't predict the future. A good mix of knowing fundamentals and following their evolution plus considering PA at extreme levels can add some more clues. With respect to the issue of jumping on many trades we need to reinforce patience and discipline....
Thanks Bub,

your right and I honestly believe you have to make mistakes in order to learn, you have to be willing to get your fingers burnt from time to time. It easy to talk theoretical about the markets but when your trading live and your in the zone it’s completely different and especially of the back of few consecutive wins you begin to let ego take over and so you jump in trades with out doing your due dillgence.

Im trying to learn a craft and learn my own style and that takes time.

Im student to the game
  • #23,671
  • Dec 20, 2018 11:30am Dec 20, 2018 11:30am
Quoting RieseP
{quote} Own up, who closed there trades on a loss or who’s in massive DD. People Sure gone quiet.
Im sure some are getting nut kicked after yesterdays FOMC banga lol.

On a side note, i find it keeps me out of trouble trading WTI and Natty on the 5M candle, with fib pivots set on 4H.
Trade the distribution/decline only is there's a late markup in the previous 4h period.
Trade with confidence, trade without fear.
  • #23,672
  • Dec 20, 2018 11:32am Dec 20, 2018 11:32am
Quoting RieseP
18% DD, not good I can only learn from this, I’m holding on my E/C shorts and got into too early on my A/J longs. I think I need to stop opening so many postions
Heres the problem, get in the habit of looking left on the higher TF's for trouble areas. AJ may have a bounce soon, EC blew thru the previous highs.

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Trade with confidence, trade without fear.
  • #23,673
  • Dec 20, 2018 11:52am Dec 20, 2018 11:52am
Quoting Cryptosurf
{quote} Heres the problem, get in the habit of looking left on the higher TF's for trouble areas. AJ may have a bounce soon, EC blew thru the previous highs. {image} {image}
Hi Cryptosurf,

I agree with you that sometimes looking left on the higher TF's can generate bad entries by fooling the trader making him believe that since PA is at extreme level a reversal is imminent. And for EC and AJ you brought as examples you're right.

At the same time I continue to believe that looking left on the higher TF's can be a valuable behaviour at the condition that you don't simply enter into a trade because of what you saw left. Usual PA reading, ADR exceeded, 61/100 pivots levels + weekly calendar give the big picture, then is up to the trader pull the trigger or stay on the sidelines.

Best regards,
Bubincka
Porta itineris dicitur longissima esse
  • #23,674
  • Dec 20, 2018 12:09pm Dec 20, 2018 12:09pm
Quoting Cryptosurf
{quote} Heres the problem, get in the habit of looking left on the higher TF's for trouble areas. AJ may have a bounce soon, EC blew thru the previous highs. {image} {image}
Very likely price will reverse from first D supply zone marked that is also embedded in a W supply zone as it's overstretched and above WR161.
If that supply fails we have another D&W supply just above.
Cheers
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  • #23,675
  • Dec 20, 2018 12:25pm Dec 20, 2018 12:25pm
Quoting bubincka
{quote} Hi Cryptosurf, I agree with you that sometimes looking left on the higher TF's can generate bad entries by fooling the trader making him believe that since PA is at extreme level a reversal is imminent.
That's not what i was saying at all.
AJ showed there were previous lows that could be tested, blowing thru the weekly S100.
EC tested previous highs and blew thru weekly R100.

The problem people run into, is using these levels as hard confirmations. PA will always be the hard confirmation.
Trade the hard PA rejection on these levels, and if they fail then get out.
Trade with confidence, trade without fear.
  • #23,676
  • Dec 20, 2018 12:39pm Dec 20, 2018 12:39pm
Its also good to keep an eye on GOLD when trading any XXXJPY pairs. Often due to the Yen Carry Trade, PA will mirror.

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Trade with confidence, trade without fear.
  • #23,677
  • Dec 20, 2018 1:07pm Dec 20, 2018 1:07pm
Quoting Cryptosurf
Its also good to keep an eye on GOLD when trading any XXXJPY pairs. Often due to the Yen Carry Trade, PA will mirror. {image}
Really cool , thanks bro
  • #23,678
  • Dec 20, 2018 1:14pm Dec 20, 2018 1:14pm
EC bloodbath ...
  • #23,679
  • Dec 20, 2018 1:22pm Dec 20, 2018 1:22pm
Quoting 1pipperhour
EC bloodbath ...
The bigger the run, the harder the fall.
Lets see if this snaps back with tomorrows CAD data.
Trade with confidence, trade without fear.
  • #23,680
  • Dec 20, 2018 1:25pm Dec 20, 2018 1:25pm
Quoting 1pipperhour
EC bloodbath ...
The bigger the run, the harder the fall.
Lets see if this snaps back with tomorrows CAD data.

.....remember......big boys are gone......
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