Pivot Trading

nice green numbers USD bulls back

In it.
Also in AU short.
Looking to short EC as well, nearing very favourable zone.

That's a problem when you place so many orders you get nervous and get out prematurely

AU, nice green numbers on PPI. Am seeing long term support at 0.71313 (aqua blue line), so if it breaks that I will hold for longer gain, otherwise will close earlier.

Yes it is sir AUD comes back from R100

Importance of Daily Open and Market Open Hours (London, New York) Price Action - Pivot Levels (Zones) - Events (PDF File below)
Refer: Post 27,124 March 14 12.53pm and Davit’s Post 27,039 March 13.
Following many PM’s this Post may further clarify and add strength to the importance of the Daily, London and New York Open Hours.
Do some “homework” and observe how they offer Support and Resistance and especially with reversals where they lie between Pivot Levels.
Apparently, many traders may not have the correct settings for these Opening Hours?

The International Standard for the FX Trading Day Open is 5pm EDT.

Check your Broker, Market Watch Hours. Market Watch should show 0.00 for 5pm EDT.
1. Use Daily_Open Line Indicator.
2. Check Using:
i. Daily Open (Candle OHLC) on Daily Chart
ii. Compare Candle (OHLC) on H1 that this agrees
iii. To Confirm:
a) Select Properties, check Period separators.
b) This should show the start of the Trading Day as 0.00 (5pm EDT).
c) Daily_Open Line Indicator should Start Trading Day on the Period Separator Line.
3. Applying the Daily_Open Line Indicator 3-times to a Chart.
i. Daily Open Default Setting, Inputs: Time Zone Data is 0. Should agree with 5pm EDT.
ii. London Market Open (3pm EDT) is +10 hours = Time Zone Data setting 10
iii. New York Market Open (8am EDT) is + 15 hours = Time Zone Data Setting 15
4. Frankfurt Open - I do not apply to a chart but may be of use. I trade from USA, EDT.
5. There are specific High Probability Trading Strategies for the London Open.
Refer to Kathy Lien’s publications and her YouTube Video.
6. London Open Fake Out! Very often a strong feature at the London Open is a “head fake” or Fake Out then, reversal. Look at the accompanying Chart GBPUSD H1 (Image1) – Background changed for better contrast. Use Zoom feature to view detail.
7. Take any FX Chart with the correct settings and confirm the importance of the Daily, London and New York Opening hours.
8. Settings on Standard Davit Template (Colors User Choice): (Image 2)
a. Daily Open : Solid Line, Color Dodger Blue.
b. London Open : Dashed Line, Royal Blue.
c. New York Open : Dashed Line, Red.
Price Action - Pivot Levels (Zones) - Events
Price Action, Pivot Levels (Zones) and Economic Announcements first and foremost.
Market Open Hours often act as Support/Resistance levels. These Opening Hours may often act as reversal levels between Weekly Pivot Levels. WATCH.

Micheal always a pleasure when you post.Take notice guys here is a trader with many years of experience.

something to be mindful

Edit just noticed it says Since Bullard speaks instead of until He has not spoken yet... 9.40 so it should say until

still better then others...Not a big deal I always check calendar FF or dailyfx and go over it.
thanks

nice one! missed this trade...

EC around R61 area

Happy, thanks Davit

Closed AU
trades closed last 24hrs DO strong R 7141 hence getting out
Read Gmo chart.

Hey hey hey are u the old Kojak? Wow
Welcome back here my friend

CJ with a nice move

Hi Davit which broker are you using?

WTI rolling over nicely.

Agree

AU: first trade closed yet, now reloaded the second one, pointing to R38.

Watching this at R61