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Pivot Trading

  • #26,301
  • Feb 27, 2019 10:19am Feb 27, 2019 10:19am
Attached Image (click to enlarge)
Click to Enlarge Name: GBPCADM30.1.png Size: 12 KB
We obey the structure that results from the market's reaction
  • #26,302
  • Feb 27, 2019 10:33am Feb 27, 2019 10:33am
there's no way I'm opening any GBP trades right now (remember parliament vote in 1h30)

but...

GbpCad EurGbp and GbpUsd all showing a possible H1 engulfing candle

No panic for those in DD guys, fix a hard stoploss to your max loss you want and look at the show these MM are putting on
If it starts to fall, this will retrace 400-500 pips in the next days
Remember we are in the last days of the month, these guys want their bonus!
  • #26,303
  • Feb 27, 2019 10:49am Feb 27, 2019 10:49am
Wow!!! First time I notice that, go back to GbpCad H4 last tops and look at what dates it started to meltdown...?!!! 1 Jan, 1 Feb, next fall down, 1 March?
  • #26,304
  • Feb 27, 2019 10:52am Feb 27, 2019 10:52am
Quoting TamRoofer
Wow!!! First time I notice that, go back to GbpCad H4 last tops and look at what dates it started to meltdown...?!!! 1 Jan, 1 Feb, next fall down, 1 March?
Thats the Rally I am Hoping for
  • #26,305
  • Feb 27, 2019 10:52am Feb 27, 2019 10:52am
EG
will bring good opportunities for the traders
Attached Image (click to enlarge)
Click to Enlarge Name: Ashampoo_Snap_Wednesday, February 27, 2019_21h52m05s_022_.jpg Size: 142 KB
Trading is about paying attention. Davit
  • #26,306
  • Feb 27, 2019 10:57am Feb 27, 2019 10:57am
Quoting Mundo
Here is how to trade pivots (TS use weekly pivot, not daily Pivot..) As price travels progressively away from weekly pivot it becomes more likely to go into correction. 61 S/R key zone 78R/S is Scott Carney's last chance for reversal (spikes stops taken before reversal) 100R/S another major zone. Should price smash 100 S/R then you are in strong trend supported by fundamentals. {image}
Agree Friend,

But price drops can also happen very fast beyond R100.

Regards,
We obey the structure that results from the market's reaction
  • #26,307
  • Feb 27, 2019 11:02am Feb 27, 2019 11:02am
I compile a weekly summary of the EIA report in a excel file.
The data is taken from p6 of the EIA report.

For anyone interested in this type of information please see attached.

This is my own analysis and is a rule of thumb approach.

I think Oil will range from 60 to 50.
Will look to short again closer to 60.
Attached File(s)
File Type: xlsx Oil Wk8.xlsx   115 KB | 190 downloads
File Type: pdf EIA Summary Data.pdf   12 KB | 248 downloads
  • #26,308
  • Feb 27, 2019 11:12am Feb 27, 2019 11:12am
Quoting Mct63
I compile a weekly summary of the EIA report in a excel file. The data is taken from p6 of the EIA report. For anyone interested in this type of information please see attached. This is my own analysis and is a rule of thumb approach. I think Oil will range from 60 to 50. Will look to short again closer to 60. {file} {image}
Thanks. Very useful.
  • #26,309
  • Feb 27, 2019 11:12am Feb 27, 2019 11:12am
Quoting denisius
We are all in DD on GC. Question is wether we can manage DD or get out? According to our system we are way above 100 Pivot. Time to consider “ was it supported fundamentally “ probably. Brexit bs pushing it higher because there is No Brexit yet. All that hanging really in the air. If GB leaving EU with No deal that might will take G down a notch but overall LEAVING EU is good for G. Pound was always independent currency. Very strong by itself.
For what it is worth I have made the following observation in regard to this system of trading.

If price goes past the 61.8 - 100 Fib pivot levels and does not return to the weekly pivot. This can be regarded as a 'missed pivot'.

The probability of price returning to next week's pivot is very high.

You can use the following indicator which I got from Davits thread to check this out. Set the number of weeks to say 20 and look back on any missed pivots and you'll see that price almost always return to the following weeks pivot, only in exceptional cases is this not true.

This may allow you to average out to a win or BE.
Attached File(s)
File Type: ex4 ZergzHistoDavidPivotColor.ex4   52 KB | 308 downloads
File Type: mq4 ZergzHistoDavidPivotColor.mq4   10 KB | 387 downloads
  • #26,310
  • Edited 11:29am Feb 27, 2019 11:15am | Edited 11:29am
Quoting Mundo
Here is how to trade pivots (TS use weekly pivot, not daily Pivot..) As price travels progressively away from weekly pivot it becomes more likely to go into correction. 61 S/R key zone 78R/S is Scott Carney's last chance for reversal (spikes stops taken before reversal) 100R/S another major zone. Should price smash 100 S/R then you are in strong trend supported by fundamentals. {image}
Mundo is, of course, correct.

But, as no one can predict the future, and it's all about probabilities ... and as adults we are the ones responsible for DD and money management, all is ok.
Each one knows and is responsible for getting out.

Yes, we trade swings, but sometimes (when fundamentals change), swings become trends. No biggie! Just get out, dust yourself off and move forward. If you (or I) were too commited with too many lots, you'll learn not to repeat the same in the future.


EDIT: Whether G is stronger with Brexit, I beg to differ. Ever since Brexit was decided, G has lost ground. I wonder why that is?
  • #26,311
  • Feb 27, 2019 11:35am Feb 27, 2019 11:35am
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  • #26,312
  • Feb 27, 2019 11:40am Feb 27, 2019 11:40am
Quoting fibo38
{image}

where u getting this? its not on ff
  • #26,313
  • Feb 27, 2019 11:41am Feb 27, 2019 11:41am
Quoting Halfcents
{quote} where u getting this? its not on ff
Fibo is a member of the UK Parliament
  • #26,314
  • Feb 27, 2019 11:43am Feb 27, 2019 11:43am
[quote = pgr45za; 12055943] {quote} Fibo es miembro del Parlamento del Reino Unido [/ quote]


Look:
https://www.myfxbook.com/forex-economic-calendar
  • #26,315
  • Feb 27, 2019 11:43am Feb 27, 2019 11:43am
Quoting Halfcents
{quote} where u getting this? its not on ff
myfxbook calendar
  • #26,316
  • Feb 27, 2019 11:45am Feb 27, 2019 11:45am
Quoting pgr45za
{quote} Fibo is a member of the UK Parliament
Fibo = Financial Investor of Brexit Organization
Invest in Life
  • #26,317
  • Feb 27, 2019 11:46am Feb 27, 2019 11:46am
You can follow the vote here
Inserted Video
Don't jump in the sewer...
  • #26,318
  • Feb 27, 2019 11:52am Feb 27, 2019 11:52am
Trade taken on EG
Attached Image (click to enlarge)
Click to Enlarge Name: Ashampoo_Snap_Wednesday, February 27, 2019_22h48m30s_023_.jpg Size: 126 KB
Trading is about paying attention. Davit
  • #26,319
  • Feb 27, 2019 12:03pm Feb 27, 2019 12:03pm
Trading GBP in the current Brexit environment is much like waiting to get kicked in the balls. Its not a matter of when, just how painful it will be.
Trade with confidence, trade without fear.
  • #26,320
  • Feb 27, 2019 12:03pm Feb 27, 2019 12:03pm
Quoting Mct63
{quote} For what it is worth I have made the following observation in regard to this system of trading. If price goes past the 61.8 - 100 Fib pivot levels and does not return to the weekly pivot. This can be regarded as a 'missed pivot'. The probability of price returning to next week's pivot is very high. You can use the following indicator which I got from Davits thread to check this out. Set the number of weeks to say 20 and look back on any missed pivots and you'll see that price almost always return to the following weeks pivot, only in exceptional...
This is great stuff. That would take GC to about 1.74000 since next weeks PP would be around that area.
Invest in Life
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