Attachments: Pivot Trading

Pivot Trading

#29,481
Apr 26, 2019 2:45am Apr 26, 2019 2:45am

Trendzy
| Joined Apr 2019 | Status: Trader | 40 Posts

In my three years of trading, I have read so many books on trading (specifically technical analysis) from cover to cover but came across one that briefly discussed pivots. I even started taking the CMT (chartered market technician) course but I haven't come across this method. This is quite bizarre considering how logical this method is.

#29,482
Apr 26, 2019 2:57am Apr 26, 2019 2:57am

Egbert
Joined Aug 2017 | Status: The Weekly Pivot is the only verdic | 1,081 Posts

Quoting Trendzy

Disliked

In my three years of trading, I have read so many books on trading (specifically technical analysis) from cover to cover but came across one that briefly discussed pivots. I even started taking the CMT (chartered market technician) course but I haven't come across this method. This is quite bizarre considering how logical this method is.

Ignored

Are you marketing the course now?

We obey the structure that results from the market's reaction

#29,483
Edited 4:11am Apr 26, 2019 3:45am | Edited 4:11am

GoRich
| Joined Apr 2019 | Status: Trader | 2 Posts

CHN supports foreign investors to invest more in the country by collecting less taxes.
I think it will be positive for AUD & NZD.

#29,484
Apr 26, 2019 3:58am Apr 26, 2019 3:58am

Davit
Joined Feb 2012 | Status: Trader | 21,377 Posts

Hi guys
What have we learned this week? and Weeks prior? Why I insist on Calendar analyses and like to suggest looking ahead 2weeks to get an idea why market does what it does.
We have Feds Rate and NFP next week 2 huge events and market buoyant from recent stock market highs is extremely bullish on USD however Newtons law of for every action there is a reaction is still valid. Yes There will be corrections coming and most likely after next week's NFP
Strap your seat belts and just wait out.

Selling the yen on +swap are great trade opportunities now
CJ AJ NJ in my view great longs

In trading, you have to be defensive and aggressive at the same time

#29,485
Apr 26, 2019 4:07am Apr 26, 2019 4:07am

kingdomk
| Joined Oct 2009 | Status: Trader | 206 Posts

NU and EU. Will try holding out until the GDP figures later today. Still expecting a massive correction

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#29,486
Apr 26, 2019 4:17am Apr 26, 2019 4:17am

Trendzy
| Joined Apr 2019 | Status: Trader | 40 Posts

Quoting Egbert

Disliked

{quote} Are you marketing the course now?

Ignored

Haha very funny Sir. I am one of those guys who believe that the Job of a trader is to trade and Trading is a skill that can't be taught, but it can be learned-Colm O'Shea

#29,487
Apr 26, 2019 4:27am Apr 26, 2019 4:27am

mch1970
Joined Nov 2014 | Status: Trader | 206 Posts

Wild week with some big moves and potentially more to come today with USD advance GDP as the key economic release.

Been limited with trades this week, but wanted to show one of the additional tools in the pivots arsenal that I often make use of - using prior weekly 'missed pivots' as a guide for potential areas of price action to tend towards. It's not for everyone - just an illustration of how it helps me to plan my trades.

I've used EJ as an example. Big upside moves over the past 3-4 weeks, left a missed weekly pivot for EJ in early April. Last week saw some consolidation and rejection of the 126.75 level and I went short with a couple of trades that worked out well. This week however has seen significant downward momentum with a lot of Yen strength, but it also meant that missed pivot from early April came into play and it was eventually taken out at 124.30 (around the S138-S161 area) and with a nice 4hr pin bar, i've taken a small long to see if price bounces back to around S100 or beyond. Now I have no idea where price will go. It could retrace and test further lows for the week - or it could bounce, given the significant extended down move. I'm basically playing with probability, having seen this set-up work for me previously. If it doesn't - no big deal, as will just move onto the next set-up.

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However this isn't a fluke of price action. If trading AJ - the exact same process occured. Missed pivot in the first week of April - pivot revisited this week, with price bouncing thereafter. Powerful stuff these pivots. Green pips all

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#29,488
Apr 26, 2019 4:30am Apr 26, 2019 4:30am

Davit
Joined Feb 2012 | Status: Trader | 21,377 Posts

market really expects today's advance GDP to be very green (hence the extreme USD gains) however should it print red anticipate sharp corrections.
We had government shutdown,nasty storms hence Red number may not be too unrealistic....

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In trading, you have to be defensive and aggressive at the same time

#29,489
Apr 26, 2019 4:32am Apr 26, 2019 4:32am

Zenji
| Joined Feb 2019 | Status: Trader | 3 Posts

Trade complete.

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#29,490
Apr 26, 2019 4:40am Apr 26, 2019 4:40am

Davit
Joined Feb 2012 | Status: Trader | 21,377 Posts

Quoting Ratel

Disliked

Biggest leasons I learned this week is more on the psychology and discipline side. As an example I kept on adding LONGS to AJ as it was heading south. I got caught in the trap of thinking that it must surely reverse at some point. And it will reverse, but I was too early on it. Not a problem to leave the trades open but then your pockets need to be deep enough to do so. What got me was that I should have stuck to my deeper personal preferences. For instance, I don't like getting into a trade once the 78 line is crossed convincingly. Once the price...

Ignored

Just maybe you should learn that giving is part of taking.Guys who only take will fail in long term.You got no senior traders here subscribed NOT this thread or myself but writing here your "journey"
I suggest you think why you here and in the meantime I wont respond to you or any feedback on trading until I see commitment to this system.
I dislike freeloaders! Actions speak louder then words.

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In trading, you have to be defensive and aggressive at the same time

#29,491
Apr 26, 2019 4:58am Apr 26, 2019 4:58am

2be
Joined Mar 2007 | Status: Trader | 2,126 Posts

Quoting 2be

Disliked

{quote} For many Fx pairs I always have US session close well marked, and also the London open. Weekly pivots are very useful, though I also use some extentions, Going Long on E/U at 1.1137, near the US open level, Below S100 Lately I trade indices esp DOW, but put few fx trades as well. Good trades to all, 2be

Ignored

Closing the longs on E/U with a little profit a fraction above 1.1144, currrent PA makes me less commited to keep that positon running.
Respecting this thread's main trust I do not want to introduce confusion by ccommenting on other insights that are subjectivelly involved in trading, and are outside of the scope of this very worthy thread.

On other note I do admire Davit for his hard work, commitment and content to keep this thread running and on course.

Few years ago I used to trade several majors and few crosses, but lately I switched to Indices, mainly DOW and to DAX.

In moments of maddness I am tempted to start a thread regarding thrading one of these indices, but I am pleased to confirm that when equilibrium returns, so far I have been able to sucessfully restrain myself from this idea. I try not to spend too much time on any forum, and getting too involved might be a burden I am not too keen to carry atm.
Saying that, I wish the very best to Davit and the rest of you, espacially to those who contribute positive and worthy content.

2be

Make sure losses are small and profits are bigger!

#29,492
Apr 26, 2019 4:59am Apr 26, 2019 4:59am

Ratel
Joined Jan 2018 | Status: Trader | 826 Posts

Quoting Davit

Disliked

{quote} Just maybe you should learn that giving is part of taking.Guys who only take will fail in long term.You got no senior traders here subscribed NOT this thread or myself but writing here your "journey" I suggest you think why you here and in the meantime I wont respond to you or any feedback on trading until I see commitment to this system. I dislike freeloaders! Actions speak louder then words. {image}

Ignored

Yep, I was subscribed to other threads and traders till I came across this thread. I believe that this thread is the only place I want to be at. I cancelled other subscriptions, although I must admit I need to maybe clean up more.
But I can assure you. I am working hard at this. I haven't felt I could add any value with posts therefore I stuck to the idea of read more, say less. I also do my calender analyses every week, even though it is in my own language.
If you insist, I will start posting trades I take in future, no problem. Definitely don't see myself as a freeloader, just as a student at the moment.
No comment expected.

#29,493
Apr 26, 2019 5:04am Apr 26, 2019 5:04am

Ratel
Joined Jan 2018 | Status: Trader | 826 Posts

Quoting 2be

Disliked

{quote} Closing the longs on E/U with a little profit a fraction above 1.1144, currrent PA makes me less commited to keep that positon running. Respecting this thread's main trust I do not want to introduce confusion by ccommenting on other insights that are subjectivelly involved in trading, and are outside of the scope of this very worthy thread.

Ignored

I see your point, I will remove my previous post. Was written as a way to clean my head a bit.

#29,494
Apr 26, 2019 5:05am Apr 26, 2019 5:05am

General Lee
| Joined May 2010 | Status: Trader | 684 Posts

watching GBPUSD

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#29,495
Apr 26, 2019 5:06am Apr 26, 2019 5:06am

RieseP
Joined Nov 2016 | Status: Trader | 908 Posts

Don't you just love it when your DD starts to evaporate and the pips turn green. Correct MM .... You shouldn't panic, you will 90% have opportunity to recover most of your DD and be in profit. I just closed partial positions across the board and will reload once the new swings start in my direction. Good day trading. And you noobs that posting ridiculous comments making out your next Ray Dalio...... I suggest you buy colouring book. This is tactical warfare and only the strong will survive.

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#29,496
Apr 26, 2019 5:33am Apr 26, 2019 5:33am

Davit
Joined Feb 2012 | Status: Trader | 21,377 Posts

Quoting Ratel

Disliked

{quote} Yep, I was subscribed to other threads and traders till I came across this thread. I believe that this thread is the only place I want to be at. I cancelled other subscriptions, although I must admit I need to maybe clean up more. But I can assure you. I am working hard at this. I haven't felt I could add any value with posts therefore I stuck to the idea of read more, say less. I also do my calender analyses every week, even though it is in my own language. If you insist, I will start posting trades I take in future, no problem. Definitely...

Ignored

I gave you a chance but obviously you think its not worth your time subscribing here.
You are removed
This thread gets stronger of your removal because of folks like you dragging everyone down instead of lifting people up.Saves me energy to channel on people who deserve it.

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