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Pivot Trading

  • #29,441
  • Apr 25, 2019 7:50am Apr 25, 2019 7:50am
Maybe things are not as rosy in Disneyland
Unemployment claims kept going higher...
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In trading, you have to be defensive and aggressive at the same time
  • #29,442
  • Apr 25, 2019 7:50am Apr 25, 2019 7:50am
NU has been trading above DO for the last 8 hrs
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  • #29,443
  • Apr 25, 2019 8:00am Apr 25, 2019 8:00am
Quoting Davit
{quote} not true.Seriously if you got nothing worth posting don't post.Blue line is Daily Open and Price has been below it since!!!!! {image}
I think hes right, your daily open line starts at the 4pm candle
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  • #29,444
  • Apr 25, 2019 8:05am Apr 25, 2019 8:05am
with all the retail closing in usa i am not surprised that unemployment ticks up, it had to at some point.

manufacturing still seems good, but retail looking awfull. i see store closings all over driving around.
  • #29,445
  • Apr 25, 2019 8:17am Apr 25, 2019 8:17am
Quoting FXFutures
open each chart and figure why it counter trended at a certain level and why some didn't. Your success rate will explode.
very important to keep on the head, and done every time

Thank you friend

regards
  • #29,446
  • Apr 25, 2019 8:22am Apr 25, 2019 8:22am
Ok, bad week for me. But it is what it is. Not big deal. Now it’s time to analyze what da heck is going on.
AUD- past 3 weeks printing bad to average data and finally loose it. Ether despite to bad CPI or simply someone cashed out and send it to correction.
USD- pushed through all supports and resistance, created new breakouts on EU and INDEX.
What is it? Test of new highs with potential move higher or manipulation? Core durable coming better but Unemployment growing.
Almost all pairs we love , price went through all pivots, which we haven’t seen for a while.
Golden Week for J, not expecting much on night time trading during that period.
Not sure how to approach at this moment. Will give market sometime to settle.
  • #29,447
  • Apr 25, 2019 8:31am Apr 25, 2019 8:31am
Quoting marcnathan88
Took me a lot of patience and some drawdowns waiting for these trades to materialize. It's all worth it and this is what trading is all about. I wait for the best setups to come and wait some more to see the trades get in profit. {image} {image} {image} {image} {image}
Well done. Great set ups and your patience was well rewarded. Also noted how your small your lot sizes were. This gave you the room to open multiple positions without over exposing yourself. This is something I will look to emulate.
  • #29,448
  • Apr 25, 2019 8:37am Apr 25, 2019 8:37am
Quoting Heimrich
{quote} I think hes right, your daily open line starts at the 4pm candle {image}
Hi Gents, my line begins when Asia opens that's midnight my local time (GMT+3) but I am open to correction and guidance.
  • #29,449
  • Apr 25, 2019 8:41am Apr 25, 2019 8:41am
Quoting Trendzy
{quote} Hi Gents, my line begins when Asia opens that's midnight my local time (GMT+3) but I am open to correction and guidance.
You would want to change it to the NY open. That is the universal TF that we're looking at for DO.
Trade with confidence, trade without fear.
  • #29,450
  • Apr 25, 2019 8:42am Apr 25, 2019 8:42am
Quoting Trendzy
{quote} Hi Gents, my line begins when Asia opens that's midnight my local time (GMT+3) but I am open to correction and guidance.
I am going to check today again at 5pm see if my line is correct.Last time was accurate and will check again.
below is from trading site.Dont know if its correct ....but posting it anyway
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In trading, you have to be defensive and aggressive at the same time
  • #29,451
  • Apr 25, 2019 8:46am Apr 25, 2019 8:46am
Took this and closed just now
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  • #29,452
  • Apr 25, 2019 8:50am Apr 25, 2019 8:50am
Some reading matter:
https://uk.investing.com/analysis/do...llar-200207602

Whilst I think about it, thought i'd share a simple Chrome browser plugin people may find handy: RSS Feed Reader. I often use this for viewing the news, rather than having to manually trawl through websites.

Simply google the news source you want to feed through, for example:
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Select which feed interests you most:
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Copy the URL displayed in your address bar & add it into your chrome extension.
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It'll look something like this when working:
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Hope it helps someone,
Ben
  • #29,453
  • Apr 25, 2019 9:10am Apr 25, 2019 9:10am
Dollar Index reject from 98 level. AU, NU, GU, EU coming from bottom. Very interesting being waiting for this.
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  • #29,454
  • Apr 25, 2019 9:12am Apr 25, 2019 9:12am
Going to go ride my motorcycle to clear my head! My CB750
Inserted Video
In trading, you have to be defensive and aggressive at the same time
  • #29,455
  • Apr 25, 2019 9:20am Apr 25, 2019 9:20am
Quoting esk1mooo
Some reading matter: https://uk.investing.com/analysis/do...llar-200207602 Whilst I think about it, thought i'd share a simple Chrome browser plugin people may find handy: RSS Feed Reader. I often use this for viewing the news, rather than having to manually trawl through websites. Simply google the news source you want to feed through, for example: {image} Select which feed interests you most: {image} Copy the URL displayed in your address bar & add it into your chrome extension. {image} It'll look something...
Nice share Ben thanks.

Checked out some of your photo's - very impressive. I see you go walking in the Lakes a bit. I try to get up there at least once a year for my fix of walking & decent pubs!

Had a weeks break with friends and family over Easter Holidays. Had some great weather for this time of year. Walked to my local beach and took this panoramic shot on my phone which came out pretty well (for a phone!) - I live on the North Devon coast:
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Back to trading now. Have sat on the sidelines a bit getting the feel for the market again but currently short a couple of positions on EUR/NZD:
EUR/NZD 15Min Chart:
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  • #29,456
  • Apr 25, 2019 9:29am Apr 25, 2019 9:29am
Quoting Cryptosurf
{quote} You would want to change it to the NY open. That is the universal TF that we're looking at for DO.
Hi Cryptosurf.
For clarification....

The 24 hour trading day/cycle ENDS at 5PM New York time. MT4 will show the start time for the last Hourly candle before New York close as 23:00.

The NEW 24 hour trading day begins 1 millisecond after New York close. The start time for that first candle of the cycle will be 00:00.

The blue Daily Open marked on Trendzy's chart adjacent to the S100 is correctly identifying the Daily Open price level.

I hope that helps.
Cheers
  • #29,457
  • Apr 25, 2019 9:30am Apr 25, 2019 9:30am
Stalking the dealer
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  • #29,458
  • Apr 25, 2019 9:32am Apr 25, 2019 9:32am
NZD seems to be gaining steam although I can't seem to find any particular news that is driving this - maybe just technicals.

UJ has been on wild ride - from R100 to S100 in less than 24 hours...
  • #29,459
  • Apr 25, 2019 9:40am Apr 25, 2019 9:40am
Quoting Davit
Going to go ride my motorcycle to clear my head! My CB750 https://www.youtube.com/watch?v=e4LpaOF5IzQ
I thought you would be a ducati rider myself. there a piece of art in itself.
  • #29,460
  • Apr 25, 2019 9:46am Apr 25, 2019 9:46am
with the open there are "three schools". (NY open, london open and asia open)
i prefer the daily open of my broker, but have also included the other opens in my chart.
the disadvantage is that the volume at this time is very low and not representative.
the NY open represents the highest volume possible. all volume-important markets are open.
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trading is like dancing, don't think and just listen to the music!
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