Pivot Trading Journal

Another one now ill waiting them out

I'm not sure - but anything can happen of course ...
A lot of news on NZD ...

Yeah! Ur right got caught in searching in pivots didn't see the news

PPE: Pivots - Price Action - Events

IR tomorrow ...

AC
I'm watching this too...

Today's calendar.


16:00
BoC Interest Rate Decision

AC & AN in the zone ...

AC - IR CAD!

Is 4th Time A Charm For USD/CAD? What To Expect From BoC

Don’t underestimate the power of persistence. Three times this month USD/CAD tested but failed to close above 1.35 and including the move in April, there have been four failures. Clearly this is important resistance for the pair and with the right catalyst, 1.35 will break easily. Despite unambiguously positive Canadian data, USD/CAD has been in an uptrend for the last 6 weeks and on the eve of the Bank of Canada’s monetary policy announcement, investors are positioning for a cautious outlook. If they are right and the central bank ignores the improvements in the labor market and retail sales, the fourth time could be the charm for USD/CAD this month.

According to recent economic reports, the Canadian economy is on fire. April was a record-breaking month for job growth, the housing market is strong and core retail sales saw strong gains last month. Housing, which has been one of the central bank’s main concerns also took a turn for the better and manufacturing activity expanded at a faster pace. Inflation eased on a monthly basis but is back at 2% year over year. Two weeks ago, BoC Governor Poloz said housing is benefiting from solid fundamentals and he expects growth to pick up later this year. However that wasn’t his attitude at the last monetary policy meeting or even earlier this month.

When the BoC met in April, there was widespread improvement in the economy as well as noticeable upticks in retail sales and trade. However the central bank completely looked past these reports and lowered their economic projections on the assumption that housing and consumption would weaken in the months ahead. They BoC also expressed concerns about global growth and the trade war. Since then, Canada’s economy continued to outperform but Sino-U.S. trade relations deteriorated significantly, oil prices are down 10% and stocks peaked. China is Canada’s second most important trade partner behind the U.S. and the prospect of weaker growth in both countries poses a big threat to Canada’s 6-month outlook. Canada does not exist in a silo and the BoC could err on the side of caution, which could be enough of a disappointment for USD/CAD to close above 1.35 for the first time since early January.

Here’s A Look At How Canada’s Economy Changed Since The April Meeting:

Source: Investing.com

Maybe you were right ...

Tomorrow morning at 4:00 am - Annual Budget Release !

Already closed one position and now ill let the rest play out in last resort closeing break even

Unchanged as expected.
Spike at R78 on tick ...

Optimistic Bank of Canada bucks the dovish dollar-bloc trend

A more upbeat Bank of Canada has edged back from the more dovish line it struck in April, as policymakers grow more confident that the earlier slowdown was temporary. Unlike in other dollar-bloc economies, we think Canadian interest rates will remain on hold through 2019

The market vs policymakers – who’s right?
The Bank of Canada (BoC) kept interest rates on hold at 1.75% at Wednesday's meeting, but more importantly, the central bank is showing no inclination to begin loosening policy, despite the recent flare-up in global trade tensions.
Having taken a more dovish line back in April, the Governing Council struck a more upbeat tone on growth, which it expects to regain momentum over the next few quarters. This follows a recent interview, where BoC governor Stephen Poloz mentioned how – once growth headwinds dissipate – interest rates could feasibly start rising again. This suggests that the medium-term policy bias is still, if anything, tilted slightly towards further tightening.

In contrast, markets are now not far off pricing in a full rate cut over the next 12 months, while a 3-month bill is now yielding more than a 10-year bond.
...
Source: ING’s Economic and Financial Analysis

Nice catch ...
Did you sell it from WP?

Another one lets wait it out

yes

Too much information on the char for me.
I used to use market profile a few years ago in Sierra Chart ...

It seems you've got your own style of pivot trading. Inputs on the pullback ...