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Pivot Trading

  • #26,261
  • Feb 27, 2019 7:27am Feb 27, 2019 7:27am
Quoting david7
{quote} {quote} Exactly, thats why I stay away from it. I expect GBP to fall in March, but as long as I dont see enough and strong confirmation I wont short it.
The fact is I'm already in, shorted GC and long EG.
If this is good or bad time will tell, probably if it was a matter of here and now I wouldn't enter.
Porta itineris dicitur longissima esse
  • #26,262
  • Feb 27, 2019 7:31am Feb 27, 2019 7:31am
Quoting darshanaint
{quote} Tomorrow USD Advanced GDP expected to down.
According to Bloomberg, Powell mentioned that labor market in US still has slack.
They interpreted this as advance GDP tomorrow to be weaker than expected (if Powell knows something we don't).
That would go well with weakest housing starts.
  • #26,263
  • Feb 27, 2019 7:35am Feb 27, 2019 7:35am
Quoting pgr45za
{quote} According to Bloomberg, Powell mentioned that labor market in US still has slack. They interpreted this as advance GDP tomorrow to be weaker than expected (if Powell knows something we don't). That would go well with weakest housing starts.
So better wait for tomorrow
  • #26,264
  • Feb 27, 2019 7:37am Feb 27, 2019 7:37am
Quoting Davit
Since we are on daily open subject. I look for price on a glace where the bias is. If it is under D O then market bias is bear if above bull however since true liquidity starts from London you must not make hasty assessment.Its there also for measuring pip distance moved from D O Pairs that move well during Asia are obviously Asian currencies Yen NZD AUD and their crosses. Other majors don't usually move much. This is why AUD/NZD can move great deal on Asia session. {image}
For evidence of this, see NJ H1. See how around 6am the DO line served as resistance and then she fell.
  • #26,265
  • Edited 7:50am Feb 27, 2019 7:38am | Edited 7:50am
After the news and with the right PA. In the M30 you will see that was ready to go north
Attached Image(s) (click to enlarge)
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Trade What's Happening... Not What You Think Is Gonna Happen
  • #26,266
  • Feb 27, 2019 7:39am Feb 27, 2019 7:39am
Quoting darshanaint
{quote} So better wait for tomorrow
I, myself, expect U to remain dovish (bearish) with Powell's dovishness.
Even so, equities (Nasdaq and so) should continue to climb the worry wall.
China trade deal is imminent, Europe's slowdown seems transient (as per Weidmann) and GS says China is strengthening.

EDIT: GC short progressing nicely.
  • #26,267
  • Feb 27, 2019 7:40am Feb 27, 2019 7:40am
Quoting darshanaint
{quote} Tomorrow USD Advanced GDP expected to down.
Who knows, I liked where price is sitting at after the retest. Will see how it develops till EOD.
Trade with confidence, trade without fear.
  • #26,268
  • Feb 27, 2019 7:48am Feb 27, 2019 7:48am
I have a question for the more experienced in this trading approach if I may.
I understand the system and have been following for some time however I have a question with one particular aspect.

Example:
I enter at the 61.8 to 100 zone with small lots. And ideally exit at the pivot.

But what happens when you enter for a small lot and price starts to go your way.
At what stage do you commit more lots, as Davit often does.
At times I have added more lots to see price move against me, and if I don't add more lots the profit is very small.

See EU at the moment,

I realize this may be down to experience with the system, and I follow the news, but any pointers would be greatly appreciated.

Thanks
Attached Image (click to enlarge)
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  • #26,269
  • Feb 27, 2019 7:51am Feb 27, 2019 7:51am
Quoting Mct63
I have a question for the more experienced in this trading approach if I may. I understand the system and have been following for some time however I have a question with one particular aspect. Example: I enter at the 61.8 to 100 zone with small lots. And ideally exit at the pivot. But what happens when you enter for a small lot and price starts to go your way. At what stage do you commit more lots, as Davit often does. At times I have added more lots to see price move against me, and if I don't add more lots the profit is very small. See EU at...
The answer is study PA anywhere from M5 to H4. Watch for pin bars (rejection candles).
  • #26,270
  • Feb 27, 2019 7:53am Feb 27, 2019 7:53am
Quoting pgr45za
{quote} The answer is study PA anywhere from M5 to H4. Watch for pin bars (rejection candles).
Thanks, I'll try that.
  • #26,271
  • Feb 27, 2019 8:03am Feb 27, 2019 8:03am
Quoting Mct63
{quote} Thanks, I'll try that.
In addition it comes down to experience and comfort level (and margin). Depending on how the structure looks to me, I may go deeper then normal.
Trade with confidence, trade without fear.
  • #26,272
  • Feb 27, 2019 8:06am Feb 27, 2019 8:06am
Quoting Mct63
I have a question for the more experienced in this trading approach if I may. I understand the system and have been following for some time however I have a question with one particular aspect. Example: I enter at the 61.8 to 100 zone with small lots. And ideally exit at the pivot. But what happens when you enter for a small lot and price starts to go your way. At what stage do you commit more lots, as Davit often does. At times I have added more lots to see price move against me, and if I don't add more lots the profit is very small. See EU at...

I should be the last to answer your question, because your question was directed to the more experienced in this trading approach.
I would tell you that there is no cake recipe for your doubt.
If you have the account the size of his account.
and if you can do management your risk as well as he does, and if you can still see the market as he sees , then you commit more lots, as often as he does
  • #26,273
  • Feb 27, 2019 8:14am Feb 27, 2019 8:14am
Thanks all, I appreciate the time you all have taken to reply to this.

As Davit says trading is more than an art than a science.

Other that this aspect I seem to be getting a reasonable handle of it.
  • #26,274
  • Feb 27, 2019 8:20am Feb 27, 2019 8:20am
Quoting Mct63
I have a question for the more experienced in this trading approach if I may. I understand the system and have been following for some time however I have a question with one particular aspect. Example: I enter at the 61.8 to 100 zone with small lots. And ideally exit at the pivot. But what happens when you enter for a small lot and price starts to go your way. At what stage do you commit more lots, as Davit often does. At times I have added more lots to see price move against me, and if I don't add more lots the profit is very small. See EU at...
Watch MD Again! And Again and Again and Again!!!!!!
Consistent! You have to be consistent!
Determine your amount of lots- Period. Not more not less per trade.
Davits system is your gide.
Enter the same amount of orders when price in your position. Let’s say 5 total. Enter 2 first then another 2 then 1. As your price progressing . Use ADR . If your 20 day 50 pips and price make 30 already towards you then POSSIBLY you still have another 20 to go.
Determine your SL and TP.
You took EU for example- ok, so let’s say you entered at 61, your stop above 100, which makes it roughly 100 pips( give or take, I didn’t count exactly)
your target for example WP.
PA determines over several Candles, not One.
weather is going to be 1 h 30 min or 15 it’s up to you.
And then you wait. “ Trade ether work or not” PERIOD.
make 20-25 trades like this( sample size) . See your results at the end.
  • #26,275
  • Feb 27, 2019 8:23am Feb 27, 2019 8:23am
Quoting Mct63
Thanks all, I appreciate the time you all have taken to reply to this. As Davit says trading is more than an art than a science. Other that this aspect I seem to be getting a reasonable handle of it.
Also look at the market structure diagram posted here: https://www.forexfactory.com/showthr...4#post12044964

These are constant patterns repeated almost weekly.
Trade with confidence, trade without fear.
  • #26,276
  • Feb 27, 2019 8:23am Feb 27, 2019 8:23am
might reload higher later on
Attached Image(s) (click to enlarge)
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  • #26,277
  • Feb 27, 2019 8:26am Feb 27, 2019 8:26am
Some quick pips... ADR is exhausted... tonight we expect good AUD data
Attached Image (click to enlarge)
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Trade What's Happening... Not What You Think Is Gonna Happen
  • #26,278
  • Feb 27, 2019 8:32am Feb 27, 2019 8:32am
Quoting ToddyS2K
Some quick pips... ADR is exhausted... tonight we expect good AUD data {image}
im in with you
Attached Image (click to enlarge)
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  • #26,279
  • Feb 27, 2019 8:57am Feb 27, 2019 8:57am
building short GBPCAD
  • #26,280
  • Feb 27, 2019 8:59am Feb 27, 2019 8:59am
Quoting TamRoofer
{quote} im in with you {image}
closed it
entry was too quick, PA not responding at all
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