Pivot Trading

EC there she goes

Hello,

I am new in this thread and first of all a big thank you to Davit and all the other contributors. It is simply amazing. I spent the last few weeks reading up and trying out the system myself. Still trying to get the hang of it. It looks simple on the outside, but has a lot of little intricacies you have to consider.

From what I learned so far is that we trade swings at the 61-100 level. If PA agrees we then pull the trigger and scale into positions (setting a "money stop" rather than a "pip stop"). We also, as a big part of the system, factor in news events and the possible impact it can have, since those are often creating setups. If we have a ranging market, the price more often than not bounces between S38 and R38.

Considering all of this, I have a question regarding a trade a lot of you made yesterday. It's the "low hanging fruit" AJ trade. I'm eager to learn so that's why I'd like to know the reasoning behind it. I too took the trade (admittedly because I saw it here), but then I thought it's in violation of the basic rules. What am I missing? I closed my trade way to early (before the big drop to the WP), because I wasn't comfortable regarding the reasoning AND with the AUD Meeting Minutes coming up, I felt like I was gambling. Rule Nr 1 is preservation of capital after all.

I'm sure you all took this trade because it presented a good oppurtunity. I just would like to know why. We had/have important AUD Events this week. Did you expect sort of an exhaustion because of last week's rallye?

Thank you in advance and thanks again for this wonderful thread.

above my weekly target plan... so relax now

closed AJ need my margin for other trades since this obviously not moving south
Happy with the gain 845 in 8hrs

EC and EU closed at TP because of spike due to the unexpected news.

"Anything can happen." Mark Douglas

with you

Closed EC, standing on the sidelines until rednews on wed and thu!

Changed target to R38 (don't want to get too greedy)
Will wait for a possible bounce off the 38 and reload after CAD news on Wed.

Exellent PP trade

Nice idea with the background colours, might have to steal that one.

Also still riding the EC, might as well take advantage of positive swap ay lads

Cheers Nigel

AUD/NZD: Short
Target range: S78 to S100

EC - NC Check also DO
Refer Page 1428, Post 28,551, Apr 11 8.53am
Check Daily Open is correct!
Check 8.30am CAD News to come!

US Oil - WTI
Can it Close above Daily Open? CAD News + OPEC in the wind!

WTI
https://dailypriceaction.com/daily-s...crew_powered=1

EJ

AJ attempting to crack PP...I will take partial profits. AU might have more room for a further downside move. I'll be taking partial profits

NZD Data coming if prints green, would be nice to push AZ down so we can buy at a better price. Currently staying out of CAD pairs because looking at the calender, CAD data is projected to be negative and today's Manufacturing Sales m/m is projetced -0.1%. I would not want to predict what Opec meeting will be about. If they decide to weaken CAD, it would be best to buy it later with positive swap. EURCAD currently at a very nice zone R61-R78. USDCAD also in a ranging market. Maybe a spike up to R78. Good to have an open mind and take what the market will offer.

EC: Will be interesting to see how this H4 candle closes. My EC trades have been swinging from profit to DD. EUR took a punch on news that some ECB wonks think their bosses are wrong on Eurozone's economic outlook. Anyway, I accept risk

Agree with you, a bit more PA is needed.

EC on the move.