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Pivot Trading

  • #31,201
  • Jul 4, 2019 4:33am Jul 4, 2019 4:33am
I closed all EA at 6030 and waiting for rebound trade. Love to see this go higher.Euro decline seem imminent specially with Brexit looming and ECB giving hints may cut rates further.
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In trading, you have to be defensive and aggressive at the same time
  • #31,202
  • Edited 4:57am Jul 4, 2019 4:44am | Edited 4:57am
Quoting Gmo
Friday July 5 NFP..... http://www.bkassetmanagement.com/fea...payrolls_13309
I like K L a lot.She has keen observations which stem from years of being in the market.
I like the last paragraph the best
"
USD/CAD will also be on the move with Canadian labor market numbers scheduled for release. Canada’s economy has been on fire but in the context of slower global growth and a very strong currency it won’t take much to disappoint CAD traders. USD/CAD is trading at 8-month lows and a small miss could trigger a voracious short squeeze ahead of next week’s Bank of Canada monetary policy announcement. "

In the context of CAD keep in mind EC has basically priced in any good news may unfold on Friday.I anticipate upward move irregardless what numbers print.
In trading, you have to be defensive and aggressive at the same time
  • #31,203
  • Jul 4, 2019 10:44am Jul 4, 2019 10:44am
Its hot in Boston 90+Humid unbearable outside so decided to stay home and watch the festivities of 4th of July from home.I know better did go down Boston to watch the fireworks on similar day situation and it was not fun basically took 2hrs just to get out of there barely able to walk through the crowd.
I did it and now will watch from home with the grill I built myself and enjoy scene from comfort of my home...in the process if I see a set up and make money then will make it lot better.
Maybe I am just getting older and nature, quietness and riding motorcycles away from people appeals lot more.I guess I am not a crowd kind of guy more like solitary traveler.Its the modern bombardment of information from everywhere that gets old and tiring turn the TV and get blasted with stupid commercials and mundane programs turn it off go to work and get blasted TV from employee break room and CNN on all the Time.It seems inescapable....Why anytime I get to be alone I enjoy the stillness and quietness since that's only time you can actually think.....and be yourself.
In trading, you have to be defensive and aggressive at the same time
  • #31,204
  • Edited 11:15am Jul 4, 2019 10:55am | Edited 11:15am
Hi Guys, Leaving for TEXAS in a few hours. Time to see my 220+cousins there, and yep will take in River Walk and The Alamo there in San Antonio. For those who like to read provided is #1-#5 Traders World Magazine. Personally I like reading about Gartley, Gann and Elliott as pioneer traders who made their mark on what we do today. If I have continued to learn something of importance in this thread it is: Study Fundamentals thoroughly then do it again, Make a wise decision on when to enter the trade(check out several time frames), and don't let a good trade turn into a bad one(exit if you need to as there is always another bus to catch). See you guys Sunday Evening !!! Remember, the coolest traders are on this thread. HAPPY 4th EVERYBODY !!!
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File Type: pdf #4.pdf   841 KB | 3,282 downloads
File Type: pdf #5.pdf   1.0 MB | 3,021 downloads
You NEVER will be the person you could be, without pressure & discipline
  • #31,205
  • Jul 4, 2019 11:21am Jul 4, 2019 11:21am
Quoting DiamondMiner
Hi Guys, Leaving for TEXAS in a few hours. Time to see my 220+cousins there, and yep will take in River Walk and The Alamo there in San Antonio. For those who like to read provided is #1-#5 Traders World Magazine. Personally I like reading about Gartley, Gann and Elliott as pioneer traders who made their mark on what we do today. If I have continued to learn something of importance in this thread it is: Study Fundamentals thoroughly then do it again, Make a wise decision on when to enter the trade(check out several time frames), and don't let a...
Enjoy your trip buddyand thanks for the PDF's
In trading, you have to be defensive and aggressive at the same time
  • #31,206
  • Jul 4, 2019 11:49am Jul 4, 2019 11:49am
Still short on EG at this level and comfortable holding.Longer trajectory is 87 and below.Does hold lot of margin so 50-70pip decline will net me 700-1k profit
most profitable pair for me last 7days .At this level only trade is sell.
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In trading, you have to be defensive and aggressive at the same time
  • #31,207
  • Jul 4, 2019 10:34pm Jul 4, 2019 10:34pm
ABN AMRO look at the implications for the next Federal Open Market Committee interest rate decision (meeting is on 30-31 July). ABN AMRO set the stage for Friday's data:

  1. Markets will be particularly sensitive to incoming data as we approach (the FOMC)
  2. The key question for markets remains whether the Fed will cut 25bp or 50bp, rather than whether they will cut at all
  3. a 25bp cut is fully priced by OIS forwards
  4. a 50bp cut is 2/3 priced

The bank expects +175K, which is above consensus (160K), citing

  1. the May number was a very weak +75k (the Jan-April average was +195k).
  2. … likelihood of some payback for the May weakness

OK, for Fed implications:

  1. June nonfarm payrolls will therefore attract even more attention than usual
  2. A somewhat weak print (120-150k) would not have a significant market impact, but if we were to see another sub-100k reading, markets would likely take it to mean a higher likelihood of a 50bp rate cut, at least as a kneejerk reaction
  3. For the Fed, we doubt such a figure would be enough by itself to lead to a 50bp cut, and so we suspect such a market reaction would not last (by the same turn, we doubt a strong print would derail cuts).

Stay low, Go fast - No luck, All skill
  • #31,208
  • Jul 5, 2019 12:17am Jul 5, 2019 12:17am
Quoting DiamondMiner
Hi Guys, Leaving for TEXAS in a few hours. Time to see my 220+cousins there, and yep will take in River Walk and The Alamo there in San Antonio. For those who like to read provided is #1-#5 Traders World Magazine. Personally I like reading about Gartley, Gann and Elliott as pioneer traders who made their mark on what we do today. If I have continued to learn something of importance in this thread it is: Study Fundamentals thoroughly then do it again, Make a wise decision on when to enter the trade(check out several time frames), and don't let a...
Ya'll come back now you here. I spent several years of my life down in the Lone Star State. I like it down there. It's just gotten a little too busy these days for my liking. I used to spend a lot of time south of the Alamo down in the Rio Grande Valley. Have a good trip to the Alamo.
Fib Traders get it right 61.8% to 78.6% of the time. NR
  • #31,209
  • Edited 1:57am Jul 5, 2019 1:40am | Edited 1:57am
Quoting Romanov102
New confirmed Crab pattern developed on EA Daily I'm not surprised by this going even higher. RBA hinting at rate cuts when they've been at ridiculously low rates for years is crazy. I think these central bankers have run out of ideas on how they can fix their bogus fiat currencies, and their deficits keep ballooning because they are all fiscally irresponsible beyond belief. One day the implosion will come and the whole system will fall apart. Oddly enough back in the day when outlaws made counterfeit money in the USA they called them criminals...
Your post from 5/18/19 achieved 1st in 2 weeks. T2 next week? Pivot + Harmonic = Money machine

------------------------------------------------
My bonus credit account progress this week , until 1k i'll try withdraw all
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Stay low, Go fast - No luck, All skill
  • #31,210
  • Edited 7:47am Jul 5, 2019 7:34am | Edited 7:47am
HE is bad unemployment increase which offsets Job gains
Overall its RED for USD IMO
PA does not agree we'll see
In trading, you have to be defensive and aggressive at the same time
  • #31,211
  • Jul 5, 2019 7:36am Jul 5, 2019 7:36am
Holding my SELL positions on CAD EC and AC (sell CAD means buy EC AC)
Not good data and chance increase BOC may cut
In trading, you have to be defensive and aggressive at the same time
  • #31,212
  • Jul 5, 2019 9:10am Jul 5, 2019 9:10am
EC Daily
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Fib Traders get it right 61.8% to 78.6% of the time. NR
  • #31,213
  • Jul 5, 2019 9:12am Jul 5, 2019 9:12am
Result updated
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Green pips everyone...
Combination of Edge, Pivot Zone, ADR and magic of PA is A+ Probability
  • #31,214
  • Jul 5, 2019 10:02am Jul 5, 2019 10:02am
I finally closed my UJ long for good profit + swap.
Jobs data for US was a bit mixed with respect to forecast therefore JPY remained strong against the dollar.

It has been a good week, now I have to carefully manage my exposure on AUD long on AC and AJ over EC long that isn't performing well.
Despite bad jobs data CAD remains strong, if there will be hints of a rate cut then it should weakens.
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Porta itineris dicitur longissima esse
  • #31,215
  • Jul 5, 2019 10:09am Jul 5, 2019 10:09am
AUDNZD
As I have posted before (May 24) I have enjoyed the "sedate" manner of AN. Plodding away with good pip gains over last 5-6 weeks.
Yellow rectangles show entry exits, yes on occasions related to News, some short positions taken.
Like Davit, I usually always sell NZD but fundamentals change this. Some trades shorting NZD against AUD. Most trades buying AUD or selling NZD.
With larger accounts I prefer not to post number of trades or lot size or $ gains.
Simply, Davit's methodology gives consistent results.
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  • #31,216
  • Jul 5, 2019 10:20am Jul 5, 2019 10:20am
USDJPY
EWI Elliott Wave International posted a chart of UJ.
As a long term member I continue to follow wave action coupled with application of Weekly Pivots as per Davit.
Although Davit's preference is always sell UJ with the current scene, yes long as a marked correction is due??
Attached Image (click to enlarge)
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Should UJ thrust from the triangle, they have a long term target at 116.75!
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  • #31,217
  • Jul 5, 2019 1:06pm Jul 5, 2019 1:06pm
Quoting bubincka
I finally closed my UJ long for good profit + swap. Jobs data for US was a bit mixed with respect to forecast therefore JPY remained strong against the dollar. It has been a good week, now I have to carefully manage my exposure on AUD long on AC and AJ over EC long that isn't performing well. Despite bad jobs data CAD remains strong, if there will be hints of a rate cut then it should weakens. {image} {image}
@bubincka: this UJ trade was perfect. When did this trade begin?
  • #31,218
  • Jul 5, 2019 1:34pm Jul 5, 2019 1:34pm
closed rest of EG
Had a nice week have some DD on other pairs that should correct soon.
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In trading, you have to be defensive and aggressive at the same time
  • #31,219
  • Jul 5, 2019 3:25pm Jul 5, 2019 3:25pm
Quoting renkotop
{quote} @bubincka: this UJ trade was perfect. When did this trade begin?
Hi renkotop,

I entered first position on 31/05/2019 @12:12.

The swap I collected has been a good reward.

Best regards,
Bubincka
Porta itineris dicitur longissima esse
  • #31,220
  • Jul 6, 2019 2:49am Jul 6, 2019 2:49am
Quoting bubincka
{quote} Hi renkotop, I entered first position on 31/05/2019 @12:12. The swap I collected has been a good reward. Best regards, Bubincka
Thank you for Reply bubincka!
Renko
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