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Pivot Trading

  • #25,181
  • Feb 13, 2019 7:19am Feb 13, 2019 7:19am
Quoting RieseP
U/C price retraced to 50% fib bang on and looks like a leg on the upside is on the horizon i don't know much about harmonic patterns but i think there looks like there has potential to be one. wait after the CPI {image}
This fib is traced inverted
Trade What's Happening... Not What You Think Is Gonna Happen
  • #25,182
  • Feb 13, 2019 7:34am Feb 13, 2019 7:34am
Quoting ToddyS2K
{quote} This fib is traced inverted
My Bad, good job it was 50%
  • #25,183
  • Feb 13, 2019 8:16am Feb 13, 2019 8:16am
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  • #25,184
  • Feb 13, 2019 8:24am Feb 13, 2019 8:24am
Quoting snail69
{image}{image}
Happy to see Again. you are a Pip machine
  • #25,185
  • Feb 13, 2019 8:26am Feb 13, 2019 8:26am
Quoting RieseP
U/C price retraced to 50% fib bang on and looks like a leg on the upside is on the horizon i don't know much about harmonic patterns but i think there looks like there has potential to be one. wait after the CPI {image}
My friend would you check your chart...there is something odd about it...Your price does not match at all with my UC. Look at the Market Price on top right corner.
Invest in Life
  • #25,186
  • Edited 10:52am Feb 13, 2019 8:27am | Edited 10:52am
Starting a new position short in USDMXN.

Just want to contribute trade ideas to this wonderful thread.

Edit: Added to the short position (added new pic), price came back up as I was expecting, possible this happens a few more times before the big turn and burn.

This pair pays a decent swap, so I'm hoping to ride this for a few days.
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  • #25,187
  • Feb 13, 2019 8:40am Feb 13, 2019 8:40am
Quoting ToddyS2K
{quote} This fib is traced inverted
That is partially true. If you invert fibs 50 will always be 50. The 23 is somewhat close to 78, 38 is 61, and vice-versa...The way he has it drawn is for someone looking for price to move past that high. Notice the second leg on the upside...it lands on 161.8, I'd say a good number considering it lines up with his first legs distance.

I guess it depends on what you are looking for. Don't box yourself in...the market certainly doesn't.
Invest in Life
  • #25,188
  • Feb 13, 2019 9:00am Feb 13, 2019 9:00am
Quoting Mundo
{quote} My friend would you check your chart...there is something odd about it...Your price does not match at all with my UC. Look at the Market Price on top right corner.
i have sorted thanks anyway i dont use it
  • #25,189
  • Feb 13, 2019 9:08am Feb 13, 2019 9:08am
The most difficult part of trading is Faith. In your system, in your knowledge. Your brain playing tricks on you, especially when you staring at your chart all the time. Sometimes it’s good just to walk away from it. And let the time do the thing. My opinion.
  • #25,190
  • Feb 13, 2019 9:29am Feb 13, 2019 9:29am
Quoting Davit
{quote} Why don't you look at the calendar and see if there are red news on USD this week and perhaps think about your question from that info as a background. Seriously have you been reading here or sleep walking! The 5 Fundamental Truths of Trading:Mark Douglas 1. Anything can happen. 2. You don’t need to know what is going to happen next to make money. 3. There is a random distribution between wins and losses for any given set of variables that define an edge. 4. An edge is nothing more than an indication of a higher probability of one thing...
thanks this nice, i am still learning, and read from past page, how to understan PA, and do some trade using little margin and how long i can survive
as you says, forex is not easy.
  • #25,191
  • Feb 13, 2019 9:32am Feb 13, 2019 9:32am
Quoting denisius
{quote} Ты заебал по Русски пиздеть в чате где никто не говорит на русском языке. Или переводи или не...
A good one Denisius.
  • #25,192
  • Feb 13, 2019 9:35am Feb 13, 2019 9:35am
Quoting snail69
{image}{image}
Nice to have you back
  • #25,193
  • Feb 13, 2019 9:43am Feb 13, 2019 9:43am
Quoting denisius
The most difficult part of trading is Faith. In your system, in your knowledge. Your brain playing tricks on you, especially when you staring at your chart all the time. Sometimes it’s good just to walk away from it. And let the time do the thing. My opinion.
That is because trading has nothing to do with feelings, thoughts, and/or self.

This is why Davit mentioned on an earlier post the importance of EXECUTION. No matter what goes on, how one feels, or thinks if we execute the system as it is designed (since it is a profitable system) then we do it instinctively, we give ourselves a chance to enter on high probability trades and on a large range of trades we will be profitable traders.

We check news beginning of week...we wait for the appropriate news event, check where pair is at in relation to pivots...check structure, PA (I also check BRN). Then we trade accordingly. No need to be on charts anytime other than at these times.

Don't think, don't feel...be mechanical about it. Execute! I remembering hearing folks say once you get it...trading is boring. That is because it is simply execution of the same thing over and over and over...
Invest in Life
  • #25,194
  • Feb 13, 2019 10:11am Feb 13, 2019 10:11am
USDJPY reaches R138 heading to R161 .. I think the price is in a good area to sell
  • #25,195
  • Feb 13, 2019 1:11pm Feb 13, 2019 1:11pm
In investing's economic calendar, there is Japanese GDP news however, in the forum's calendar there is not. Which one is true?
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  • #25,196
  • Feb 13, 2019 1:37pm Feb 13, 2019 1:37pm
Quoting MoneyTalks58
In investing's economic calendar, there is Japanese GDP news however, in the forum's calendar there is not. Which one is true? {image} {image}
Both are true, the point is that Japanese GDP is classified medium impact / orange colour on FF.
Porta itineris dicitur longissima esse
  • #25,197
  • Feb 13, 2019 2:08pm Feb 13, 2019 2:08pm
Still making great highs and hit some SLs
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  • #25,198
  • Feb 13, 2019 2:30pm Feb 13, 2019 2:30pm
Quoting HamoodOsman
Still making great highs and hit some SLs {image}
You give to a "picking the top" a new meaning ...
  • #25,199
  • Feb 13, 2019 2:38pm Feb 13, 2019 2:38pm
i feel like i should pulled the plug on this instead i am in DD.
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  • #25,200
  • Feb 13, 2019 2:52pm Feb 13, 2019 2:52pm
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We obey the structure that results from the market's reaction
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