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Pivot Trading

  • #24,681
  • Feb 3, 2019 5:02am Feb 3, 2019 5:02am
Not everyone is an expert at reading and understanding financial data (i'm not for sure )
but reading on specific sites can help to get some little light so you can guess at least who?why,when?how?

https://www.dailyfx.com/forex/fundam...land-Jobs.html
Take what you can, give nothing back
  • #24,682
  • Feb 3, 2019 6:49am Feb 3, 2019 6:49am
Quoting Husky77
Not everyone is an expert at reading and understanding financial data (i'm not for sure ) but reading on specific sites can help to get some little light so you can guess at least who?why,when?how? https://www.dailyfx.com/forex/fundam...land-Jobs.html
“Jobs data from New Zealand will underscore the RBNZ’s decision to keep rates on hold, while Canadian labor market data will continue to remain uneven, keeping the BOC on hold as well.”

These kinds of statements in news article are what Im trying to avoid.
Coz we never know if what they’re saying is true or if they are just paid to publish these kinds of statements to deceive the majority...

That is why I still prefer to trade after the data was released and watch closely the market ok how people will react instead of blindly assuming..
We're not here to be right, we're here to Profit Consistently!
  • #24,683
  • Edited 11:27am Feb 3, 2019 6:54am | Edited 11:27am
Quoting ranilo.vince
{quote} “Jobs data from New Zealand will underscore the RBNZ’s decision to keep rates on hold, while Canadian labor market data will continue to remain uneven, keeping the BOC on hold as well.” These kinds of statements in news article are what Im trying to avoid. Coz we never know if what they’re saying is true or if they are just paid to publish these kinds of statements to deceive the majority... That is why I still prefer to trade after the data was released and watch closely the market ok how people will react instead of blindly assuming.....
well youre right but not need to rely your trading 100% only on those info. you have many others real data to count for guidance, but as you said not bad to let news pass and see after what new levels are tested or broken. Trading pivots is not 6 months - 1 year open trade is just weekly so you can still play between all those news and squeeze enough decent pips.
Take what you can, give nothing back
  • #24,684
  • Feb 3, 2019 11:44am Feb 3, 2019 11:44am
This week I will be paying close attention to AUD, my favorite currency vs the USD, the NZD and CAD.

Will be waiting on rate decision which appears to remain the same but importance is given to the statement which can be positive for AUD.

I am looking for bullish AUD and NZD while bearish CAD. Price remains King (Queen) so I will look at what chart shows me in relation to news and Pivots.

Green pips to all.
Invest in Life
  • #24,685
  • Feb 3, 2019 2:49pm Feb 3, 2019 2:49pm
Hi guys
Had a great start for the Year. 16% gain Jan.Real happy with that.My base is 10% a month and anything above is gravy.

This week having red news on CAD on Friday end of the week basically means CAD will most likely take a beating which to me is welcomed since I like to short EC again and go long CJ at lower price so that's my rough plan A
AUD rate will remain same almost in certainty and may even be bullish depending on their outlook. Still AN long
Surprise here to me is NZD I anticipate less then stellar data and could go deeper correction specially on crosses like NJ which is welcomed since I like to buy NJ at lower prices.
Overall my focus will be J crosses and commodity pairs and USD should recover a bit after taking a ass whipping last week.
Stay green and sharp
In trading, you have to be defensive and aggressive at the same time
  • #24,686
  • Feb 3, 2019 2:52pm Feb 3, 2019 2:52pm
UJ really wants to go down.Worth watching
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In trading, you have to be defensive and aggressive at the same time
  • #24,687
  • Feb 3, 2019 2:53pm Feb 3, 2019 2:53pm
Quoting Husky77
Not everyone is an expert at reading and understanding financial data (i'm not for sure ) but reading on specific sites can help to get some little light so you can guess at least who?why,when?how? https://www.dailyfx.com/forex/fundam...land-Jobs.html
Although it has some good insights I also see lots of flaws. I prefer to do my own analyses.
In trading, you have to be defensive and aggressive at the same time
  • #24,688
  • Feb 3, 2019 2:57pm Feb 3, 2019 2:57pm
Going to watch my hometown Patriots on Superbowl so there wont be posts for good 4hrs+

Go Pats!
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In trading, you have to be defensive and aggressive at the same time
  • #24,689
  • Feb 3, 2019 3:08pm Feb 3, 2019 3:08pm
Quoting Davit
{quote} Although it has some good insights I also see lots of flaws. I prefer to do my own analyses.
I wish i can see inside this forest of financial data like you do,but unfortunately i still learn to understand as i am at basic level here,have friends working in investment financial big companies and they use to correct me when i talk BS or give some insights on my questions,so i am on the right way,i guess
cheer up friend! have a grrrrreeeen week ahead!
Take what you can, give nothing back
  • #24,690
  • Feb 3, 2019 6:33pm Feb 3, 2019 6:33pm
Quoting Davit
{quote} Although it has some good insights I also see lots of flaws. I prefer to do my own analyses.
Yeah do your own analysis. AS they said, "If you want something done perfectly, do it on your own"

And those analysts are usually paid to deceive the masses, so why bother?
We're not here to be right, we're here to Profit Consistently!
  • #24,691
  • Feb 3, 2019 8:17pm Feb 3, 2019 8:17pm
NU 1HR
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  • #24,692
  • Feb 3, 2019 9:36pm Feb 3, 2019 9:36pm
Just waiting to start building an entry on EC. Keep having to tell myself the word patience.
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"What the wise do in the beginning, fools do in the end."-Warren Buffet
  • #24,693
  • Feb 4, 2019 12:27am Feb 4, 2019 12:27am
Update / GOLD. Close the partials
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  • #24,694
  • Feb 4, 2019 1:43am Feb 4, 2019 1:43am
Quoting Nextgendad
NU 1HR {image}
Hi NG
Welcome.I appreciate your efforts coming back to pivots.Your trade kind of iffy.1st I don't look at TDI crosses but lets go along with it.Where it happened was 40+pips above where your placed your shorts...beginning of the week...still has potential but not a trade I would have taken.
regards

another thing your lot sizes kind of unusual.Try keeping them small and consistent.
In trading, you have to be defensive and aggressive at the same time
  • #24,695
  • Feb 4, 2019 1:44am Feb 4, 2019 1:44am
washing UJ, but it looks like the weeklong holiday in china can make the JPY a bit limited.
  • #24,696
  • Feb 4, 2019 1:54am Feb 4, 2019 1:54am
Quoting Davit
{quote} Hi NG Welcome.I appreciate your efforts coming back to pivots.Your trade kind of iffy.1st I don't look at TDI crosses but lets go along with it.Where it happened was 40+pips above where your placed your shorts...beginning of the week...still has potential but not a trade I would have taken. regards another thing your lot sizes kind of unusual.Try keeping them small and consistent.
Generally beginning of the week its not the time to counter-trade since in most cases market has not revealed its hand...
Key data release on NZD is Weds,,,
Being aware of news events why I insist people to go over the calendar.It establishes awareness how market moves.Its given none knows the future but knowing what's coming one can have good idea when to trade the pairs for most effective manner.
In trading, you have to be defensive and aggressive at the same time
  • #24,697
  • Feb 4, 2019 2:06am Feb 4, 2019 2:06am
monday tuesday hunt posibilities from near pivot zones cos there is the ''train station'' from where price leave to the far levels. later in the week then when price arrive at far levels hunt for possible corrections. Of course considering all other ingredients needed to put the plan in action.
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Take what you can, give nothing back
  • #24,698
  • Feb 4, 2019 2:21am Feb 4, 2019 2:21am
I posted above for those who see some trades taken from pivot or closed at pivot or near this zone.
But forgot to say if youre new to this you better get used with hunt for correction from 61 far levels using PA and chart structure before try hunt price at pivot cos otherwise things can be confused.
Take what you can, give nothing back
  • #24,699
  • Feb 4, 2019 2:51am Feb 4, 2019 2:51am
Quoting Davit
{quote} Hi NG Welcome.I appreciate your efforts coming back to pivots.Your trade kind of iffy.1st I don't look at TDI crosses but lets go along with it.Where it happened was 40+pips above where your placed your shorts...beginning of the week...still has potential but not a trade I would have taken. regards another thing your lot sizes kind of unusual.Try keeping them small and consistent.

Thank you for your response Davit well noted. I really appreciate it. Getting back in the swing of things and they only way I know to do it and get going again is to post anf have constructuve feed back. Closed rhe positions positive and will not get in late in the future. Thank you again for the advice
  • #24,700
  • Feb 4, 2019 3:29am Feb 4, 2019 3:29am
AC on watchlist for longs

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"In the end you only trade yourself."
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