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Pivot Trading

  • #26,201
  • Feb 26, 2019 12:28pm Feb 26, 2019 12:28pm
AN S (potential trade looks good). I won't take it.
See how H1 PA tapped 3x on PP?

AN seems ranging between PP and S38.

EDIT: Although range is a measly 30 pips.
  • #26,202
  • Feb 26, 2019 12:28pm Feb 26, 2019 12:28pm
Quoting Mundo
Closed batch from R100...still holding last weeks trades I did not close earlier with small profit. Will reload once PA shows when. Recovering from bad cold so in and out of sleep. But this week is good week to pick up pips. Looking at tomorrow Feb 26: US Housing Starts & Building Permits (08:30 ET) Bearish USD -- House prices are falling in the US and the data is expected to reflect that. *Short USDJPY Continuation US Consumer Confidence (10:00 ET) Bullish USD -- Potential upside surprise given rise in stocks and University of Michigan Index. *Start...
Slow but profitable week. Paying close attention to pip totals as this will help when able to raise lot sizes and load up trades.
Attached Image (click to enlarge)
Click to Enlarge Name: Trade Report 20190226.png Size: 12 KB
Invest in Life
  • #26,203
  • Feb 26, 2019 12:31pm Feb 26, 2019 12:31pm
Quoting pgr45za
AN S (potential trade looks good). I won't take it. See how H1 PA tapped 3x on PP? AN seems ranging between PP and S38. EDIT: Although range is a measly 30 pips.
Not sure about that one...

NZ Trade Balance (14:45 ET) Bearish NZD -- Potential downside surprise given weaker manufacturing PMI.
*Short NZDUSD, watch crosses
Invest in Life
  • #26,204
  • Feb 26, 2019 12:32pm Feb 26, 2019 12:32pm
Quoting Mundo
{quote} Not sure about that one... NZ Trade Balance (14:45 ET) Bearish NZD -- Potential downside surprise given weaker manufacturing PMI. *Short NZDUSD, watch crosses
My bad.

Quite right you are.

On the other hand, Monthly PMI is still above 50. So, expansion.

EDIT: Also look at trade balance. On upswing.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: nz.png Size: 23 KB
Click to Enlarge Name: nz2.png Size: 19 KB
  • #26,205
  • Feb 26, 2019 12:37pm Feb 26, 2019 12:37pm
Quoting pgr45za
{quote} My bad. Quite right you are. On the other hand, Monthly PMI is still above 50. So, expansion. {image}
Not sure if I am right Just probabilities.
But if it does head to S38 which could very well do...I will be ready to load longs.
Invest in Life
  • #26,206
  • Feb 26, 2019 12:46pm Feb 26, 2019 12:46pm
Quoting Mundo
{quote} Not sure about that one... NZ Trade Balance (14:45 ET) Bearish NZD -- Potential downside surprise given weaker manufacturing PMI. *Short NZDUSD, watch crosses
Agreed. 2 weeks N showed strength, first rate decision, second Retail sales, strong numbers. Not sure how Trade balance will affect it but tomorrow Business Confidence , and that can move N even higher. Ether way short drop is expected to reload longs.
  • #26,207
  • Feb 26, 2019 12:50pm Feb 26, 2019 12:50pm
GC will stretch higher. Current PA all about it no doubts. If that would be a Thursday or Friday I might worry about it but it is Tuesday. G overextended on all pairs. Anything can happen. Just need to be in the right place in the right time to Short it!

G is dangerous toy to play with. It’s expensive to trade and it can jump higher than anyone could think. That’s why I tread carefully with very small orders.
  • #26,208
  • Feb 26, 2019 1:41pm Feb 26, 2019 1:41pm
Quoting Mundo
{quote} Slow but profitable week. Paying close attention to pip totals as this will help when able to raise lot sizes and load up trades. {image}
Update just closed batch on UJ...closed my EU long before spike that saw coming...Was patient with UJ not so much with EU...overall added additional 260 pips to week.
Attached Image (click to enlarge)
Click to Enlarge Name: Trade Report 20190226(1).png Size: 12 KB
Invest in Life
  • #26,209
  • Feb 26, 2019 1:47pm Feb 26, 2019 1:47pm
Quoting Mundo
{quote} Update just closed batch on UJ...closed my EU long before spike that saw coming...Was patient with UJ not so much with EU...overall added additional 260 pips to week. {image}
Good job with UJ!!!
  • #26,210
  • Feb 26, 2019 2:28pm Feb 26, 2019 2:28pm
With small position I did not want to skip GC
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 42 KB
  • #26,211
  • Feb 26, 2019 2:36pm Feb 26, 2019 2:36pm
Now it looks tempting to short.
Attached Image (click to enlarge)
Click to Enlarge Name: hgmm5r4.png Size: 44 KB
  • #26,212
  • Feb 26, 2019 2:37pm Feb 26, 2019 2:37pm
Harmonic 1-1, lets see if it plays out
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  • #26,213
  • Feb 26, 2019 3:22pm Feb 26, 2019 3:22pm
Will be shorting EU around 1440.
  • #26,214
  • Feb 26, 2019 3:27pm Feb 26, 2019 3:27pm
Quoting pgr45za
Will be shorting EU around 1440.
my plan is to wait for PA in these specific areas and stay aware of USD news AND profit taking from USD bears for end of the month
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDH4.png Size: 108 KB
  • #26,215
  • Feb 26, 2019 3:29pm Feb 26, 2019 3:29pm
4:45pmNZD
Trade Balance
Forecast Negative

7:30pmAUD
Construction Work Done q/q
Forecast Positive

Be ready for some AUD/NZD fireworks!
  • #26,216
  • Feb 26, 2019 3:54pm Feb 26, 2019 3:54pm
Quoting Mundo
{quote} Not sure about that one... NZ Trade Balance (14:45 ET) Bearish NZD -- Potential downside surprise given weaker manufacturing PMI. *Short NZDUSD, watch crosses
Not trading yet...not a good time of day due to high spreads...But fundamentally have been pretty good this month.
3:45pm NZD Trade Balance -914M -300M 12M
Invest in Life
  • #26,217
  • Edited 4:37pm Feb 26, 2019 4:00pm | Edited 4:37pm
Quoting Mundo
{quote} Not trading yet...not a good time of day due to high spreads...But fundamentally have been pretty good this month. 3:45pm NZD Trade Balance -914M -300M 12M
Impressive numbers, if the australain numbers come out neutral or positive, we might see AUDNZD get back to 1.0500
  • #26,218
  • Feb 26, 2019 4:52pm Feb 26, 2019 4:52pm
Quoting Mundo
{quote} Not trading yet...not a good time of day due to high spreads...But fundamentally have been pretty good this month. 3:45pm NZD Trade Balance -914M -300M 12M

Although disappointing results for NZD, I don't see big impact at the moment. We'll see...
Discipline and winning attitude
  • #26,219
  • Feb 26, 2019 7:33pm Feb 26, 2019 7:33pm
EC got some
Attached Image (click to enlarge)
Click to Enlarge Name: EURCADM15.png Size: 42 KB
In trading, you have to be defensive and aggressive at the same time
  • #26,220
  • Feb 26, 2019 8:08pm Feb 26, 2019 8:08pm
3160xx was yesterday open which is acting support.
Lots of key data on CAD tomorrow so plenty of time to move this south.
Blue line daily open.Everything on my chart has purpose.
Attached Image (click to enlarge)
Click to Enlarge Name: USDCADH1.png Size: 37 KB
In trading, you have to be defensive and aggressive at the same time
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